Ministry of Domestic Trade and Cost of Living was established on 27 October 1990. The objectives of Ministry are to promote the development of a viable, competitive and sustainable domestic economy, specifically in the Distributive Trade Sector.
The Distributive Trade Sector is one of the main contributors to the National GDP and it acts as a buffer to economic stability, especially during the times of uncertainty and unpredictable situation of the global economy. Distributive trade needs to be strong so as to counterweigh any instability in the economy.
At the same time, the Ministry is committed in protecting the interest dan rights of consumers. This includes development of an ecosystem of consumers and businesses that complements each other towards self-regulation, in line with the aspirations of people in a developed country. It is hoped that matured and ethical consumers and business can be developed, with the outcome of an economically and socially balanced nation.
In 2009, the Ministry’s roles and functions were expanded to cover the Franchise and Co-operative Sectors.