KUALA LUMPUR (April 9): The Ministry of International Trade and Industry (MITI) expects to launch and establish the Strategic Trade Control Community or MySTCC by year end.
MySTCC is anticipated to strengthen public-private partnerships in creating awareness and compliance with the Strategic Trade Act (STA) 2010.
Deputy Minister Senator Datuk Lim Ban Hong said the trade control establishment would also create a pool of industry leaders, organisations and entities that deal with strategic items that can provide advisory roles and support on matters related to strategic trade management to the public.
“We are currently still engaging with some multinational companies (MNCs) and small and medium enterprises (SMEs) through the Internal Compliance Programme (ICP).
“They have expressed their interest to contribute to MySTCC,” he told a press conference in conjunction with the STA’s 10th anniversary celebration and conference here today.
Strategic items refer to goods and technology controlled under the STA 2010, prescribed in the Strategic Trade (Strategic Items) Order 2010.
The ICP is a trade facilitation measure accorded to eligible companies with internal control and procedures to safeguard their interest and protect them from being taken advantage of by proliferators.
To date, Malaysia has 617 registered STA permit applicants, among which 131 are ICP companies.
Meanwhile, Lim said the act had been playing a pivotal role in addressing several major concerns in international trade, particularly to provide control over export, transhipment, transit, brokering of strategic items including arms and related material, and other activities that will or may facilitate the design, development and production of weapons of mass destruction and their delivery systems.
“This is to protect the nation from the proliferation of weapons of mass destruction.
“Over the years, it has benefited the country in terms of building confidence among investors, especially in transferring sensitive products and also technology. It also provides protection to Malaysian exporters from being exploited or involved in illicit activity activities,” he said.
