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

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