PUTRAJAYA (Sept 7): Malaysia opines that every nation-state should be brave to move towards creating a peaceful and harmonious multi-polar world that respects international diplomacy.

In expressing Malaysia’s stand at the 7th Eastern Economic Forum (EEF), with the theme 'On the Path to a Multipolar World', Prime Minister Datuk Seri Ismail Sabri Yaakob said the world today is moving towards multi-polarity that brings with it not only threats, but opportunities that should be optimised by all.

Ismail Sabri said all countries need to accept and adapt to the new distribution of power in crafting a more prosperous, sustainable and just future.

From Malaysia’s perspective, no country can exist on its own, he added.

"Therefore, Malaysia adopts a friendly and open approach in fostering ties with any country,” he said during an online EEF plenary session.

The 7th edition of the EEF is being held in Vladivostok, Russia, from Sept 5 to 8.

According to the EEF official website, EEF was established in 2015 to support the economic development of Russia’s Far East and to expand international cooperation in the Asia-Pacific region.

Ismail Sabri said Malaysia holds strong to the principle of ASEAN Centrality, and also other basic principles on cooperation, respect for a nation’s sovereignty and assisting member countries to achieve peace and regional prosperity.

As an ASEAN founding country, Malaysia will continue to play its vital role in building the ASEAN community and regional integration, he said.

"It is Malaysia’s hope that all ASEAN dialogue partners, give their attention and respect for this principles,” he added

Elaborating on the economic aspect of a multi-polar world, Ismail Sabri said there were a number of developing countries emerging as new economic powerhouses.

There are several countries moving towards becoming additional growth catalysts, while others are striving to achieve their potential in this new system, he added.

He said that by 2040, Asian countries are expected to dominate half of the world’s Gross Domestic Product and 40% of global consumption, with the majority of them being Southeast Asian countries.

“Almost 60% of trade in Asia is among Asian countries themselves. This clearly proves that Asia is able to influence the trend of world trade by taking a regional approach,” he said.

At the plenary session of the EEF, the prime minister also drove home the point that the world is facing various challenges, from economic uncertainty, public health and geopolitics to climate change.

These threats have an unforeseen impact on the world, he said, and expressed the need for the international community to pay attention to non-traditional security issues, particularly food security.

Ismail Sabri said an overall perspective on the various types of global security threats needs to be taken into account so that a comprehensive solution can be formulated and achieved together.

Perceived imbalances, whether in terms of political and economic power or the level of development between countries and different regions, need to be acknowledged and dealt with prudently, especially by the world’s superpowers as the leading political and economic players at the international level, he said.

Ismail Sabri also said countries that still believe in hegemony would only create conflicts, tension and instability in political and social aspects.

“Any solution being sought should not only benefit one party but should involve all,” he said, adding that political and economic stability at the international level is crucial for the world to continue to move forward.

Malaysia, he said, would remain committed to moving forward together with other countries in finding the best method to deal with current challenges in a more meaningful way.