No time frame set to explain strategic trade act to Malaysian exporters


  • Business
  • Thursday, 22 Mar 2012

KUCHING: The Ministry of International Trade and Industry (MITI) has not set a time frame to undertake its outreach programmes on the Strategic Trade Act 2010 (STA).

The STA is a law enacted to control the export of strategic items and technology.

Its Deputy Minister, Datuk Jacob Dungau Sagan said in this regard, there was a need for continuous efforts to be made, in view of the growing number of Malaysian exporters as well as the exported strategic products.

Speaking to reporters today after opening the STA industry outreach and internal compliance workshop here, he said a good understandings of the Act by Malaysian exporters, would enable them to know what needed to be done when exporting goods overseas.

“The (international trade) environment is dynamic and we have to keep up with it,” he added.

He said that the STA bill was passed by Parliament in June 2010 and has been in force since April last year.

Among the strategic items covered under this law are military items, nuclear materials, facilities and equipment.

Sagan said a total of 120 outreach programmes involving 4,583 participants had been carried out. To date, 309 companies had been registered under the STA.

“Apart from increasing international trade confidence in Malaysia, the Act will promote a transparent system to facilitate technology transfer to Malaysia. The transfer of technology is an integral contribution towards making (Malaysia) a high income country,” he added. - BERNAMA

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!
   

Next In Business News

Swift Haulage acquires Singapore-based Watt Wah Petroleum for RM5.17mil
TNG, Shell expects 200 shell stations to be equipped with TNG RFID solutions by year-end
MAHB, Capital A drop legal proceedings against each other
Sunway Resort completes phase one renovation project worth US$60mil
Hit by rising costs, Hup Seng Industries' profit falls 15%
FBM KLCI falls as investors brace for US inflation report; Hartalega tumbles
Malaysia Airlines to acquire 20 Airbus A330neos - sources
Oil slips as U.S. crude stockpiles rise, eyes on U.S. inflation data
Thailand hikes rate for first time since 2018 to tame hot inflation
UOB Malaysia introduces UOB Infinity to corporate clients

Others Also Read