The manuscript examines the fabrication of rare earth magnesium alloy WE43, and its performance under wire electrode discharge machining (WEDM) conditions. It focuses on WEDM parameter optimization using multi criteria decision making (MCDM) techniques. WE43 alloy manufactured using casting method were characterized using advanced microscopy and spectroscopy techniques to analyze the microstructure, phase structure, and mechanical properties. WEDM experiments explores the effect of pulse current, pulse-on time, pulse-off time, and voltage on the material removal rate (MRR) and surface roughness (SR). MCDM methods, like Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) and Complex Proportional Assessment (COPRAS), are used to identify optimal machining conditions, with both approaches agreeing on the same optimal parameter set: pulse current of 15 A, pulse-on time of 5 µs, pulse-off time of 15 µs, and voltage of 30 V. This combination produces the best balance between MRR and SR, confirmed by additional experiments. The findings highlight the potential of the WE43 alloy for applications requiring precision machining, offering valuable insights for industrial use and future research.