National Trade Blueprint

39 National Trade Blueprint Continuously increase engagement with key markets to improve market access and connection, maintain or deepen Malaysia’s trade relationships with existing trade partners. Facilitating and Widening Market Access An efficient and open market is key to export success and competitiveness in international markets. Trade agreements expand market access, and they have been a critical catalyst in enhancing SMEs participation in the global value chains (GVCs). 8 Strategic Thrusts Thrust 5: FOCUS RATIONALE Improve market access through FTAs, MRAs, PTAs and continuous monitoring of NTMs Objective / Pain points To encourage exporters to better leverage on existing FTAs and its benefits. Leverage on PTAs and MRAs to mitigate NTMs. Key Stakeholders: MITI (Lead), MATRADE, MPC Implementation timeline : Medium-term (continuous effort) Action plans 1. Increase awareness on the existing Free Trade Agreements (FTAs) and its benefits to exporters as a short term initiative a) Agencies can collaborate with business chambers to further facilitate the information dissemination to exporters. b) Easy to understand materials can be shared with exporters to improve awareness and educate on the benefits in order to increase utilisation. c) Comprehensive study should be undertaken to identify utilisation rates among SMEs, perceived benefits, and opportunities to optimise FTA utilisation. 2. Explore feasibility of signing and/or concluding new FTAs, while enhancing existing FTAs a) Continue to advocate the best outcome for Malaysian exporters through ongoing negotiations on FTAs with selected markets. b) Conduct a study to thoroughly assess the implications of FTAs with these markets, and potential areas for enhancements. 3. Undertake short term measures through implementation of Mutual Recognition Agreements (MRAs) or Preferential Tariff Agreements (PTAs) a) Identify selected markets that would be complex for FTAs, and move ahead with PTAs as a short term measure. b) Continue efforts to harmonise national standards with international standards. c) Identify countries for which the adoption of MRAs would beneficial and start negotiations. 4. Continuously monitor Non-Tariff Measures (NTMs) for both domestic and importing countries a) PEMUDAH can be tasked to monitor NTMs. b) Maintain consistent discussions between G2G through Joint Trade Committee with relevant countries to identify and manage technical trade barriers. c) Utilise various platforms such as ASEAN and WTO to mitigate negative effects of NTMs on Malaysia’s trade. 5.1