Former Chief Justice Zaki Azmi has proposed that the government looks into amending and replacing the Bills of Lading Act 1855.

Zaki said the country should implement The Hague Visby Rules in order for the maritime industry to remain competitive and become a regional centre for arbitration.

The Bills of Lading Act, he said is 175 years old now, and there is an urgent need for a review or to have new laws.

"Matters relating to law reform are within the purview of the Law Review and Law Reform Division of the Attorney-General’s Chambers.

"It is imperative that this division and the Transport Ministry accelerate the implementation of maritime legislation to bring them in line with current international best practices," Zaki said during the launch of the International Malaysian Society of Maritime Law.

He said maritime transport had grown exponentially and had become a backbone of international trade and global economy, from 2.65 billion tonnes in 1970 to 10.3 billion tonnes in 2015 and for this reason, the focus should also be directed to the maritime industry.

Speaking to reporters later, the former CJ also pointed out there is no piracy law, as what is there is robbery law under the Penal Code.

"I don't understand why, since piracy law is different from that," he said.

Good laws lead to better enforcement

Asked by reporters why was it taking the country so long to reform or amend the laws or formulate such laws, Zaki quipped he cannot answer as to the reasons but felt that the government may not think this to be a priority.

"But to the private sector and the people business sector, they would want to see the law come into force.

"If we do not have good laws and proper enforcement, there will pitfalls and breaches and that will cause the cost of insurance to go up. If we have good laws and proper enforcement, the insurance premium will come down and this is good for the country," he said.

Zaki when he was CJ, he had set up the first Admiralty Court to handle maritime dispute cases.

"Prior to 2010, the Malaysian legal system was not wholly prepared to meet the demands of the maritime industry. However, in just five years, Malaysia has made tremendously strides forward and is now able to satisfy the requirements and expectations of the industry," he said.

Mercantile maritime law given low priority

He also expressed concern there is a low priority given to international conventions relating to mercantile maritime law.

"It is continuous upgrading of Malaysian maritime related laws that will help to keep us at par, at the most fundamental level, with current commercial best practices," Zaki said.

"Ultimately, the defining quality in a great maritime nation is not just her ports and trade statistics, but the excellence of her maritime professionals and the quality of services offered to the domestic and international maritime industry. Do we want international maritime success badly enough to choose excellence?" he said.

Zaki said another important feature of a maritime nation is arbitration, where Malaysia's arbitration law are as good as any.

This, he added is attributed to the Arbitration Act of 2005 and its amendment in 2011.

Also present at the event was the director of the Kuala Lumpur Regional Centre for Arbitration, Professor Sundra Rajoo.