KUALA LUMPUR: Malaysia has unveiled the National Trade Blueprint (NTBp) to enhance its competitiveness through improved business ecosystem.
Prime Minister Datuk Seri Ismail Sabri Yaakob said the five-year strategic plan comprised eight strategic thrusts and 40 recommendations to strengthen Malaysia's position in the international arena.
Sustainable development in international trade was critical to the broader economic recovery in the post-Covid-19 world, Ismail Sabri added.
"NTBp addresses necessary structural changes for the export sector to thrive through strengthening of trade facilitation, logistics, standards conformance, market access, sustainability, digitalisation and technology, investment and branding," he said at the virtual launch today.
The recommendations would be implemented by eight working groups comprising of specialists from public and private sectors, he added.
Ismail Sabri said NTBp reflected the government's clear ambitions to further develop Malaysia's position and competitiveness in international trade.
"More importantly, this blueprint is set to supplement the policies outlined in the 12th Malaysia Plan towards meeting its targets with clear, actionable, and focused recommendations," he said.
The blueprint also complements other existing policies and masterplans, towards the central goal of an improved export framework, aligning with the current trade landscape and business community needs.
He said blueprint called for effective deliberation and execution on the recommendations it has outlined, to enhance trade competitiveness.
"I believe implementation of the blueprint, which involves collaborative efforts and strong commitment from various ministries, agencies and private sector within the business ecosystem, will bear success.
"The blueprint will elevate the nation's trade competitiveness and strengthen its position as a leading export country. We must understand the need to continuously improve our trade strategies in line with ever-changing landscapes," he said.
Ismail Sabri said products and services that Malaysia exports ought to evolve the country become a more diversified economy over time.
"This is what the blueprint must achieve. It should not just be about improving trade numbers quarter by quarter, but something more meaningful.
"Therefore, the blueprint should act as a catalyst to identify Malaysia's future sources of competitiveness, based on an informed understanding of the global supply and demand market with a uniform collaboration between the government and private sector," he added.
While benefitting the Malaysian business community, he said the blueprint would also affect the rakyat in a positive manner.
"Besides advocating an economic agenda that is aligned with the nation's social landscape, the blueprint's key thrusts and recommendations strive towards inclusivity, fair distribution of wealth, narrowing of inequality gaps, elevating livelihood of Malaysians, as well as providing positive impacts for the nation through higher income generation."