KUALA LUMPUR, April 12 (Bernama) -- Malaysia has been a major beneficiary of globalisation, despite major challenges to the nation, says Minister of International Trade and Industry Datuk Seri Mustapa Mohamed.

Citing the Asean Economic Community (AEC) which was established in 2015, he said the regional economic integration agenda could help Malaysia move up the value chain with good production and corporation among small and medium enterprises.

"The world is getting smaller, that is why ASEAN nations (including Malaysia) want to be part of the global value chain as it not only brings growth to the region but also increases the nation's income as well as provide quality jobs to the country," he said at a plenary session titled "Nextgen Competition" at the 12th Invest Malaysia Kuala Lumpur (IMKL 2016) here today.

For Malaysia, Mustapa said one of the challenges faced by the government currently was to make Malaysians, especially those from the rural areas, understand the changes taking place.

"The world is moving fast, and it is through education and training that we can inform, especially those from the rural areas, as to what is going on in the world now," he said.

Mustapa added that the government would make sure that the implementation mechanism was there to overcome challenges and transform Malaysia into a developed country.

Besides, Mustapa said the government should also ensure that the policies in the country moved in tandem with global changes.

"Policy makers have to be on the mark and move fast to tap into this new reality. As such, we are on track and have plans like the Economic Transformation Programme and Government Transformation Programme to ensure our future is safe and secure.

"If we want to become a high-income nation, we need to embrace innovation, high-technology and enhance the roles assumed by local and multinational companies," he said.

Mustapa also urged enterprises to view challenges, brought about by globalisation, as opportunities. " at the 12th Invest Malaysia Kuala Lumpur (IMKL 2016) here today.