Ministry of International Trade and Industry

While the COVID-19 pandemic has impacted the world at large, MITI and its agencies have not been lying idle. As economies contracted and unemployment rate soared across the globe, we have worked closely with other ministries and agencies to explore ways to mitigate the impact and manage the intricate balance between public health and economic sustainability. 

No doubt various industry players faced major disruptions as their businesses descended into logistic chaos and HR nightmares. Yet, not all hopes are lost as business owners turn to digitalisation, IR4.0 tech adoption and the power of eCommerce to weather the storm. 

The mobilisation of several programmes by MITI and its 13 agencies such as the introduction of the Project Acceleration and Coordination Unit (PACU), eTRADE programme and more are all efforts to resuscitate the economy and ensure a steady, progressive recovery. 

Furthermore, the recent signing of the Regional Comprehensive Economic Partnership (RCEP) - the world's biggest trade agreement - saw Malaysia and 14 other like-minded nations committed to a common interest, at a time when global growth is slowing. Standing together in the face of adversity, the agreement is said to progressively lower tariffs across many areas in the coming years. 

With numerous plans of action in place, we will continue to provide support and ensure that the Malaysian economy stands strong and continues on its upward trajectory. Let us all be cognizant of opportunities and remain steadfast to face 2021 head on. Recollective, as the name suggests, captures our efforts to the Nation’s performance in trade and investments for the month. Rest assured, we will not rest on our laurels.

Let’s stay strong and stay united in this journey.

#EconomicFrontliners

MITI Recollective Editorial Team