The growth and expansion of global trade in services is rapidly gaining momentum and recognising this trend, Malaysia is keeping pace by progressively liberalising its services sector.
The task of spearheading and coordinating the development and liberalisation of trade in services (except for financial and transportation services) has been given to the Ministry of International Trade and Industry (MITI).
There are various approaches to liberalising the services sector: unilaterally, bilaterally, regionally and multilaterally through trade agreements.
Malaysia has through unilateral or autonomous liberalisation, further opened several important services sub-sectors to foreign participation with the prime objective of accelerating growth, improving quality and standards and competitiveness of this sector. This will inevitably require Malaysians to upgrade their knowledge, skills and marketability, equipping them to stand on their own in the face of competition from foreign services providers, eventually carving a viable presence globally.
This section will provide you with an overview of the autonomous liberalisation as well as with information on the services sectors that have been liberalised - 8 sectors in 2009 and 7 sectors in 2012.
You will also be able to obtain an overview of the various trade agreements that Malaysia has signed and is committed to.
Details of both autonomous liberalisation and trade agreements can be accessed in the respective sections.