DAY 1 - MALAYSIA-KOREA TRADE MISSION, DAY 2 - WORKSHOP ON STRATEGIC TRADE MANAGEMENT

DAY 1 A new day dawns. Had a productive morning attending the 2024 Malaysia-Korea Trade Mission at the Renaissance Kuala Lumpur. It was a privilege to represent Malaysia as a platform for promoting Korean products to local businesses. Connecting with such a high-level delegation of South Korean companies across various sectors was extremely valuable. There's immense potential for Noma SWO Consult to explore partnerships, joint ventures, or distribution agreements with these companies eager to tap into the Malaysian market. This event offered a fantastic opportunity to expand our business network. We extend our sincere thanks to PDS Consulting and all government agencies involved for organizing this impactful trade mission.

DAY 2

Attended MYSSTCC (Malaysian Strategic Trade Control Community) Workshop on Strategic Trade Management (Industry engagement) I was representing Noma SWO Consult and Madam Hajah Tetty Henney Zulkifli in the capacity of President/Founder for Women in Governance & Technology Association Malaysia (WIGTA)

The event held at DoubleTree by Hilton brought together key stakeholders, including officials from the Ministry of Investment, Trade and Industry (MITI), MYSSTCC, and the US Embassy.

The workshop focused on the Strategic Trade Act (STA) 2010, a crucial piece of legislation often overlooked by exporters.

Compliance with the STA is essential to avoid legal repercussions. I strongly advocate for Malaysian exporters to become full members of MYSSTCC to benefit from their support and guidance.

The workshop provided valuable insights into strategic item classification, intangible technology transfer, licensing, and penalties under the STA. The informative presentations by MITI and MYSSTCC experts were complemented by engaging discussions on national security concerns, export controls, trade sanctions, screening processes, due diligence, and risk assessment.

Networking with fellow professionals and exchanging perspectives on real-world case studies enriched the overall experience.

Key takeaways from the event include:

- The importance of STA compliance for Malaysian exporters

- The benefits of MYSSTCC membership

- The need for enhanced understanding of national security implications in trade

- The critical role of due diligence and risk assessment in export control

This workshop underscores the significance of strategic trade management in safeguarding national interests while fostering responsible business practices.