KUALA LUMPUR: The Ministry of International Trade and Industry (MITI) is ready to provide input to the Special Economic Committee (SEC), to help deal with the current economic and financial challenges.
Datuk Seri Mustapa Mohamed, as the minister, said the ministry is ready to propose input in four areas, namely investment, trade, small and medium-sized enterprises (SMEs) and productivity, to ensure continued economic growth.
“The newly established SEC will cover the many sectors of our economy.
“Our core focus is on trade, investment, SMEs and productivity. These are important to drive economic growth and bring about domestic recovery,” he added.
He told reporters this on the sidelines of the Merdeka month celebration at the Malaysia External Trade Development Corporation (Matrade) building here.
Mustapa also launched the Matrade childcare centre and the agency’s landscape project at the same event.
He said in enhancing international trade, Miti’s National Export Council which met regularly, had outlined some measures, for instance, its stand on China.
“China transformed itself from a focus on export and investment driven growth to one based on domestic consumption.
“Thus, we need to have a trade policy in line with what is happening in China, based on the country’s changing pattern of demand,” added Mustapa.
He said other markets such as Europe, Africa and the US are equally important, as Malaysia needs to continue diversifying its market.
“We are getting ready. While we believe the SEC might have its own proposals, we are on standby with ours (proposals), with the focus on the four areas,” he added.
Prime Minister Datuk Seri Najib Tun Razak in a Facebook posting said the formation of the SEC is to minimise the impact of any arising economic issues towards the economy.
The committee, to be chaired by Minister in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar, will meet weekly and report directly to Najib. — Bernama