KUALA LUMPUR , Jan 12 (Bernama) -- The logistics industry is among the services sector that needs to be beefed up as trade remains as an important lifeline for Malaysia , International Trade and Industry Minister, Datuk Seri Mustapa Mohamed said.

"The government is committed to lowering the costs of logistics in order to maintain Malaysia 's competitiveness as a trading nation," he said in his speech at the Malaysian International Chamber of Commerce and Industry Services Summit here Tuesday.

Among others, he said the government would cooperate with the private sector in issues relating to regulations, procedures and infrastructure needed for the sector to perform well.

"Efforts are being made to further consolidate and integrate the logistics sector to not only provide better and competitive services to domestic manufacturers but also to provide logistics services to neighbouring countries", he added.

Asked later if the government would initiate a regulated consolidation for the sector, Mustapa said : "Not in this point of time."

Malaysia was establishing new capacities and facilities in ports and airports and was improving its infrastructure to position the country as a regional hub for logistics.

-- BERNAMA