THE newly formed Ministry of International Trade and E-Commerce will plan, formulate, recommend and implement trade development and promotional policies for international trade, foreign direct investment (FDI), e-Commerce and international business collaboration.

Its minister Dato Sri Wong Soon Koh said the ministry would also seek export opportunities for local companies, develop strategies and supportive policy guidelines to enhance competitiveness in attracting FDI.

“The ministry will also nurture and develop local companies to enhance their position regionally and globally, establish global networking and to set up ‘e-Commerce Innovation Centre’.

“It will also craft key strategies to ensure the state’s competitiveness as a destination for FDI and e-Commerce.”

Wong, in his winding-up speech yesterday, said the ministry has also outlined six strategies to exploit the strength of the state ICT sector and promote platforms for e-Commerce.

The strategy also will look at IT as business administration and utilise e-Commerce for business-to-business trading within the state and other countries.

Wong also urged local companies to capitalise on e-Trade which is an initiative under the Digital Malaysia programme to accelerate export with RM5,000 financial assistance provided to the qualified companies.

“There are only eight local companies registered with the programme according to records of the Suruhanjaya Syarikat Malaysia (SSM), and we feel that there is more room for involvement,” he said.

He also said the ministry had an intent to turn part of the Tebedu Industrial Estate into a Free Zone to encourage economic activities to the Tebedu-Entekong border area once issues related to border trade were resolved.

“The ministry will also continue to pursue resolving issues with the Indonesian government to ensure free flow of goods and services as well as investment at the border,” he said.