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STRATEGIC TRADE ACT (STA) 2010

STRATEGIC TRADE ACT 2010

THIS law is put in place to strengthen the country’s ability to curb the export, transshipment, transit and brokering of materials linked to weapons of mass destruction (WMD), which include electronics, avionics and software.

The law gives the authorities the power to act against those who design, develop and produce WMD, such as biological weapons, biological agents, chemical weapons, toxins and nuclear weapons, as well as strategic goods or goods and technology that could be used to produce arms and related materials.

Companies are required to apply for export permits for strategic items within three months. To support the move, eight multinational companies – Intel, Panasonic, Infineon, Texas Instruments, DHL, Motorola, Ericsson and Dallab Crytography – have agreed to be among the first to register.

The act, approved by Parliament on May 6 last year, is in line with Malaysia’s commitment to implement the United Nations Security Council Resolution 1540, which requests all member states to establish comprehensive legal and regulatory measures to control the exports of strategic items and technologies.

Article taken from the New Sunday Times dated 2 January 2011
 


Last Updated 2017-01-11 10:47:22 by Fauziah Osman

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