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National Trade Blueprint a five-year strategic plan on trade competitiveness, says Ismail Sabri

National Trade Blueprint a five-year strategic plan on trade competitiveness, says Ismail Sabri

25 Oct 2021

The five-year strategic plan of the National Trade Blueprint launched on Monday (Oct 25) will elevate Malaysia’s trade competitiveness and strengthen its position in the international arena, Prime Minister Datuk Seri Ismail Sabri Yaakob said.

He said the blueprint with its eight strategic thrusts and 40 recommendations would address necessary structural changes for the export sector to thrive through the strengthening of trade facilitation, logistics, standards conformance, market access, sustainability, digitalisation and technology, investment and branding.

The premier said these recommendations would be implemented by eight working groups comprising specialists from the public and private sectors.

“The blueprint reflects 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 during the virtual launching ceremony of the National Trade Blueprint on Monday.

Ismail Sabri called for effective deliberation and execution of the recommendations to enhance trade competitiveness.

“I believe the implementation of the blueprint, which involves collaborative efforts and strong commitment from various ministries, agencies and the private sector within the business ecosystem, will bear success,” he said.

The premier said it also complements other existing policies and master plans towards the central goal of an improved export framework.

This is aligned with the current trade landscape and business community needs, he noted.

“We must understand the need to continuously improve our trade strategies in line with the ever-changing landscape. The products and services that we export ought to evolve as we become a more diversified economy over time,” he said.

Ismail Sabri also said 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 the private sector,” he added. 

While benefiting the Malaysian business community, the blueprint will also affect the rakyat in a positive manner, he said.

“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 livelihoods of Malaysians as well as providing positive impact on the nation through higher income generation,” he explained.

The premier expressed his confidence that Malaysia would achieve new heights of economic expansion, driven by strong export growth that is supported by a robust business ecosystem with commitment from all parties in the value chain. 

“Working together towards a common goal, we can navigate challenging scenarios to achieve superior trading outcomes in the long term with the spirit of Keluarga Malaysia,” he added.

Source: Bernama