The International Trade and Industry Ministry is confident the establishment of a special economic committee, as announced by Prime Minister Najib Abdul Razak, will provide good measures in weathering the current economic headwinds.

Minister Mustapa Mohamed said the committee could emulate the success of the National Economic Action Council (NEAC) which was set up during the 1997/1998 Asian financial crisis.

“This is a very timely move and we are confident the committee will be able to provide good inputs to the government to deal with the current economic and financial challenges,” he told a press conference at the end of the 47th Asean Economic Ministers’ and Related Meetings in Kuala Lumpur today.

Najib, earlier today, announced the setting up of the committee with the objective of ensuring continued growth momentum and generate prosperity during the current challenging times.

Mustapa also said the committee would consist of experts who would monitor domestic and global economic developments.

- Bernama