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BUSINESS

Look East Policy logo unveiled to mark 40th anniversary -- MITI

13/01/2022 02:32 PM

KUALA LUMPUR, Jan 13 -- The year 2022 will be a special year for Malaysia and Japan bilateral relations. It marks the 40th anniversary of the Look East Policy (LEP) initiated by Malaysia in 1982.

To commemorate the occasion, the Ministry of International Trade and Industry (MITI), which is LEP’s national secretariat, organised a logo design competition from Oct 26 to Nov 20, 2021.

The judging committee, comprising MITI, Ministry of Foreign Affairs, Public Service Department and the Embassy of Japan in Malaysia, has unanimously chosen a logo designed by Koo Kon Hen from Kuala Lumpur from a pool of 171 entries from both Malaysia and Japan. 

"The competition was to create awareness on the implementation of the Look East Policy and its contribution to Malaysia’s socio-economic development,” MITI said in a media statement today.

"The logo elegantly captures the robust economic and social connections between Malaysia and Japan by its connective lines. The colours represent the national colours of both countries."

The ministry added that the policy has contributed significantly to trade and investment and the development of human resources.

Over a span of 40 years, total trade between Malaysia and Japan rose by over 290 per cent to reach RM124.14 billion (US$29.60 billion) in 2020. Japan is Malaysia's fourth largest trading partner.

From January to November 2021, total trade between Malaysia and Japan increased by 20.8 per cent to RM135.01 billion (US$32.63 billion) compared with a year ago.

Furthermore, Japan is the largest foreign investor in Malaysia in terms of implemented projects. 

As of June 2021, a total of 2,768 manufacturing projects were implemented, involving investments totalling RM91.5 billion (US$21.9 billion).

In the area of human resources, collaborations between the Public Service Department (JPA) and Japanese institutions and organisations have benefited 17,062 Malaysians, including 6,715 students who were given scholarships to further their studies in Japan, particularly in engineering, science and technology. 

A total of 10,347 government officers participated in training courses in multiple areas including management and technical skills.

To mark the 40th anniversary of the Look East Policy, MITI is inviting individuals, organisations and relevant parties to submit programme proposals throughout 2022. 

For more information, visit its website at https://www.miti.gov.my/index.php/pages/view/8195

-- BERNAMA

 


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