Malaysia - Compliance Awards for Good Compliance Culture


WHY NOT ?


In Malaysia, the Ministry of International Trade and Industry (MITI) hs received 3.549 applications in 2020 for e-permit to export strategic items mostly for telecommunications and information security products, followed by electronics, military items and materials involving chemicals. 10 years after the implementation of the Strategic Trade Act (2010), MITI has now granted the STA 2010 Compliance Award in appreciation of the commitment by multinational companies which progressed remarkably in building a compliance culture through adherence to rules regulations and best practices in strategic trade management. Three top award recipients have been announced during a public event.


Luxembourg and Europe have also hidden champions in the field of export control compliance. Why not also praise their continuous efforts in improving a compliance culture in their internal trade management ? A Compliance Award is only one example how licensing authorities may build a community among those entities with whom they work daily.


Source: The Star (14 Apr 2021)





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