Trade facilitation is an important part of the supply chain. Facilitating the trade processes especially in automating the traders’ submission of regulatory documents is extremely crucial for enhancing the management of the supply chain, especially with increased volumes of international trade.
This leads to businesses’ need to rely on information and communication technologies as the ICT play a very pivotal role in reducing the complexity of international trade and minimising the transaction and purchasing costs.
Like other countries, Malaysia has taken initiatives to transform the trade facilitation process of the supply chain via a single window system. It has taken concrete steps over the last three decades to evolve and implement various trade facilitation initiatives, particularly in the area of customs policies, legislations, procedures and practices.
The trading community in Malaysia is vibrant. It comprises traders, manufacturers, importers, exporters, forwarders, shipping agents, warehouse and depot operators, and also includes transport and logistics community, banking and insurance agencies as well as cross border links. Smooth communication is key for this community to run business more effectively and efficiently.
The exchange of electronic trade documents between the public and private sectors of the trade and logistics community are safe, secure and efficient through an e-commerce and single platform access. All required trade related documents can be prepared, submitted, applied for, and even approved online on a single point platform thus eliminating the need for manual and duplicated efforts.
❝Malaysia is one of the world’s most open economies. Trade is equivalent to 130% of its GDP. Its trade policy, which is fairly liberal and transparent, has contributed to its economic growth, which has averaged 5% over the past few years, in spite of the vagaries of global economic environment.❞