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MITI's Portal
 

Glossary

Labour Force

Refers to those who, during the reference week, are in the 15 - 64 years age group (in completed years at last birthday) and who are either employed or unemployed. [read more]

LC

Letter of Credit - A Letter of Credit  or Documentary Credit (DC) is a written undertaking by the bank given to an exporter/seller at the request of the importer/buyer, to pay the exporter/seller at sight or at a determinable future date up to ... [read more]

Lead Shepard

The head of a working group under the Steering Committee on Economic and Technical Cooperation (SCE) of APEC, within some SCE fora this position is called Chair. This is to differentiate with Convenor, who is the Chair of a forum under the Committee ... [read more]

Leaders

Term used for heads of APEC member economies participating in the annual Informal Sessions of the APEC Economic Leaders’ Meetings (AELM). Terminology is in accordance with the common principle of APEC which refers to APEC participants as ... [read more]

Less Than Full Reciprocity

Principle which requires developed countries to undertake higher reduction compared to developing countries.  [read more]

LEV

Low emission vehicle -  is a vehicle that meets the average emissions standard within the LEV programme. [read more]

Lipstick Effect

A theory that states that during periods of recession or economic downturn, consumers will eschew purchases of big-ticket luxury items and seek material solace in smaller indulgences, such as premium lipstick instead of fur coat.  [read more]

LMW

Licensed Manufacturing Warehouse (Gudang Pengilangan Berlesen (GPB)) - In Malaysia, a Manufacturing Bonded Warehouse is known as Licensed Manufacturing Warehouse established under the provision of section 65/65A of the Customs Act 1967. An LMW ... [read more]

Long Products

Long products include hot rolled bar, cold rolled or drawn bar, rebar, railway rails, wire, rope (stranded wire), woven cloth of steel wire, shapes (sections) such as U, I, or H sections, and may also include ingots from continuous casting, ... [read more]

LPG

Liquefied Petroleum Gas also referred to as GPL, LP or autogas is a blend primarily of two hydrocarbon gases, propane and butane. [read more]