The Ministry of International Trade and Industry (MITI) will be launching the Strategic Trade Control Community (MySTCC) by the end of this year.
MySTCC is aims to strengthen public-private partnerships by raising awareness and ensuring compliance with the Strategic Trade Act (STA) 2010.
Deputy Minister (MITI), Lim Ban Hong said the trade control establishment would also create a pool of industry players, entities, and organisations dealing with strategic items that can provide advisory role and support to the public on matters related to Strategic Trade Management (STM).
“We are still engaging with Small Medium Enterprise (SMEs) and some Multinational Companies (MNCs) through the Internal Compliance Programme (ICP) and they have expressed their interest to contribute to MySTCC,” Lim said during the press conference at MITI building today.
Lim also stated that the Act has been an important role in addressing several major concern in international trade to protect Malaysian exporters from being exploited or involved in illicit activities.
“The mission for the implementation of the Export Control under the STA in Malaysia was very clear from the start, that is to establish the mechanism to prevent the proliferation and trafficking of Weapon of Massive Destruction or other related materials and associated delivery systems from and through Malaysia.
“Over the years, this Act has benefited the country in term of building confidence among investor especially in transferring sensitive product and technology.
“As an important transit and transhipment hub, the need to establish legal provisions to manage the transfers of dual-use items becomes even more necessary,” Lim said.