Malaysia needs to update maritime law to keep up with times, says judge FMTNews
Almost 90% of Malaysia’s trade is seaborne and the maritime industry contributes about 40% of the country’s gross domestic product.
This will provide confidence, certainty and predictability to people of commerce, both domestically and internationally, she added.“It is not only in times of enterprise and profit but also when things go wrong. To that extent, insolvency laws also need to meet international standards. “Thailand plans to construct a land bridge connecting the Gulf of Thailand and the Andaman Sea, which would allow ships to transfer cargo from East to West and West to East via the Grand Canal or Crown land bridge. That would seriously impact our maritime industry,” she added.
She said the body of law governing shipping and admiralty practice was international and evolving to meet the needs of changing times, bringing a perennial challenge for the legal fraternity, which often contended with intricate shipping issues.
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