Malaysia unveils five-year national trade blueprint

Kuala Lumpur (VNA) – Malaysian Prime Minister Ismail Sabri Yaakob has unveiled the National Trade Blueprint (NTBp) for 2021 - 2025 to strengthen the country’s position as a leading export country and enhance its trade competitiveness.

Speaking at a virtual launch on October 25, the PM said the plan consists of eight strategic thrusts and 40 recommendations, noting that the NTBp addresses necessary structural changes for the export sector to thrive through strengthening trade facilitation, logistics, standards conformance, market access, sustainability, digitalisation and technology, investment and branding.

It reflects the government's ambitions to further develop Malaysia's position and competitiveness in international trade. More importantly, the blueprint is set to supplement the policies outlined in the 12th Malaysia Plan, he added.

The Malaysian leader emphasised the importance of effectively implementing the 40 recommendations to enhance trade competitiveness, requiring eight working groups be set up with the participation of both public and private sectors.

He held that the country need to continuously improve its trade strategies in line with ever-changing landscapes while developing export products and services when it becomes a more diversified economy over time.

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, according to the PM./.