Malaysia ranks 19th most globalised country

Malaysia's open economy, strong trade and business ties worldwide has earned the country the 19th most globalised nation based on A.T. Kearney's Globalisation Index 2006.

"Malaysia was one of the two countries in Asia to be placed in the top 20, including the US, Canada and New Zealand," the Minister of International Trade and Industry, Datuk Seri Rafidah Aziz said at the Industry Excellence Awards 2006, where 32 companies were acknowledged for their achievements in various categories.

In her keynote address at the event, the Minister urged Malaysian companies to benchmark their performance against global competitors so as to compete effectively in the world market. Malaysian manufacturers and exporters would be able to increase their exports, if they are able to meet the international market requirements, such as complying with standards, whether mandatory or voluntary, related to issues such as health, environment and quality.

Companies in the chemicals and chemical products industry would be able to gain access to the European Union (EU) market, if there are able to comply with the requirements of the EU Regulations on the Registration, Evaluation and Authorization of Chemicals, she said.

Electrical and Electronics (E&E) products makers should strive to use environment-friendly materials to replace hazardous materials, which would be in line with the EU directive on Waste from Electrical and Electronics Equipment.

Similarly to enhance market acceptance of Malaysian wood-based furniture and other wood-based products, manufacturers should use wood sourced from sustainably-managed forests.

On the food products industry, the Minister said Malaysian food products would be readily accepted worldwide, if local food processors are able to met the international health and safety standards such as Hazard Analysis and Critical Control Points (HACCP) and the Codex Alimentarius the globally recognised code of practices for the food industry.