Highlights of the MITI Weekly Bulletin, Vol.122 include:
Trans-Pacific Partnership (TPP) Agreement Enters Fourth Round Of Negotiations
The Trans-Pacific Partnership (TPP) entered its fourth round of negotiations in Auckland, New Zealand from 5-10 December 2010. Nine countries - Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore, United States and Viet Nam - are in negotiations to create what could be the precursor to the Free Trade Area of the Asia-Pacific (FTAAP). TPP members agreed that the APEC Summit in November 2011 remains the target date for a substantive agreement in all areas of negotiations.
Progress Made in the Third Malaysia-Turkey Free Trade Agreement (FTA) Negotiations
Further progress was made in the Third Round of the Malaysia-Turkey FTA negotiations held from 30 November to 2 December 2010 in Ankara, Turkey. Negotiations on Sanitary and Phytosanitary Measures which set out the basic rules for food safety and animal and plant health standards were succesfully concluded at this Round. Malaysia’s trade with Turkey is on an increasing trend. Bilateral trade increased to RM2.06 billion in 2009 from RM920 million in 2000 or at an average annual growth rate of 13.9%.
Global System Of Trade Preferences (GSTP)
The Global System of Trade Preferences (GSTP) is a preferential trading arrangement to enhance South-South Trade through reduction or elimination of import duties between participating countries. The GSTP Agreement entered into force on 19 April 1989. Currently, there are 48 members of the GSTP, including Malaysia. Malaysia, together with ten other countries submitted the draft schedule of concessions in May 2010. The GSTP Protocol was signed in Brazil on 15 December 2010 and will come into force after ratification by at least four Member Countries.
Improvements in Asean-China FTA: Implementation of the Revised Operational Certification Procedures (OCP)
The ASEAN-China Free Trade Agreement on Goods has been implemented since 2005. On 1 January 2010, six ASEAN Member States (Brunei, Indonesia, Malaysia, the Philippines, Singapore and Thailand) and China eliminated import duties on 90% of the products. The other 10% of the products are listed in the Sensitive List (SL) and Highly Sensitive List (HSL), and the duties will be reduced/eliminated between 2012 and 2018.
Malaysia Participates in the APEC Digital Opportunity Centre
Malaysia became the 9th member of the APEC Digital Opportunity Centre (ADOC) following the signing of the Cooperation Agreement on 6 December 2010 between the Ministry of Rural and Regional Development (KKLW) and the ADOC Secretariat located in Chinese Taipei. KKLW as the implementor of the project will operate two ADOC e-Learning Centres at Medan Info Desa (MID) Kampung Gadek, Melaka and Guntung Luar, Setiu, Terengganu as pilot projects.
Malaysia-Korea Business Forum
The Malaysia-Korea Business Forum was held on 10 December 2010. This Forum is the outcome of the dynamic aspirations of business leaders to form alliances to further strengthen business ties between the Republic of Korea (ROK) and Malaysia. ROK has been active in Malaysia’s manufacturing sector.
Also featured:
• Other Economic Trends & Development
• Overseas Tender Bids (Pakistan)
Get a copy of the MWB today !
Trans-Pacific Partnership (TPP) Agreement Enters Fourth Round Of Negotiations
The Trans-Pacific Partnership (TPP) entered its fourth round of negotiations in Auckland, New Zealand from 5-10 December 2010. Nine countries - Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore, United States and Viet Nam - are in negotiations to create what could be the precursor to the Free Trade Area of the Asia-Pacific (FTAAP). TPP members agreed that the APEC Summit in November 2011 remains the target date for a substantive agreement in all areas of negotiations.
Progress Made in the Third Malaysia-Turkey Free Trade Agreement (FTA) Negotiations
Further progress was made in the Third Round of the Malaysia-Turkey FTA negotiations held from 30 November to 2 December 2010 in Ankara, Turkey. Negotiations on Sanitary and Phytosanitary Measures which set out the basic rules for food safety and animal and plant health standards were succesfully concluded at this Round. Malaysia’s trade with Turkey is on an increasing trend. Bilateral trade increased to RM2.06 billion in 2009 from RM920 million in 2000 or at an average annual growth rate of 13.9%.
Global System Of Trade Preferences (GSTP)
The Global System of Trade Preferences (GSTP) is a preferential trading arrangement to enhance South-South Trade through reduction or elimination of import duties between participating countries. The GSTP Agreement entered into force on 19 April 1989. Currently, there are 48 members of the GSTP, including Malaysia. Malaysia, together with ten other countries submitted the draft schedule of concessions in May 2010. The GSTP Protocol was signed in Brazil on 15 December 2010 and will come into force after ratification by at least four Member Countries.
Improvements in Asean-China FTA: Implementation of the Revised Operational Certification Procedures (OCP)
The ASEAN-China Free Trade Agreement on Goods has been implemented since 2005. On 1 January 2010, six ASEAN Member States (Brunei, Indonesia, Malaysia, the Philippines, Singapore and Thailand) and China eliminated import duties on 90% of the products. The other 10% of the products are listed in the Sensitive List (SL) and Highly Sensitive List (HSL), and the duties will be reduced/eliminated between 2012 and 2018.
Malaysia Participates in the APEC Digital Opportunity Centre
Malaysia became the 9th member of the APEC Digital Opportunity Centre (ADOC) following the signing of the Cooperation Agreement on 6 December 2010 between the Ministry of Rural and Regional Development (KKLW) and the ADOC Secretariat located in Chinese Taipei. KKLW as the implementor of the project will operate two ADOC e-Learning Centres at Medan Info Desa (MID) Kampung Gadek, Melaka and Guntung Luar, Setiu, Terengganu as pilot projects.
Malaysia-Korea Business Forum
The Malaysia-Korea Business Forum was held on 10 December 2010. This Forum is the outcome of the dynamic aspirations of business leaders to form alliances to further strengthen business ties between the Republic of Korea (ROK) and Malaysia. ROK has been active in Malaysia’s manufacturing sector.
Also featured:
• Other Economic Trends & Development
• Overseas Tender Bids (Pakistan)
Get a copy of the MWB today !