Tag Archives: Automotive Industry
Higher demand for quality spare parts drives the growth of the automotive after-market rapidly in Canada. The increasing number of vehicles on the road translates into demand for spare parts and offsets the intense competition and market maturity in the automotive after-market. Research also suggests that owners of used vehicles turn to the aftermarket for parts and the prevalent aggressive driving style also leads to faster wearing out of tires and other parts of the vehicles.
The automotive industry is Canada’s largest manufacturing sector, accounting for 12 per cent of manufacturing GDP and 24 per cent of manufacturing trade. The recent world economic downturn have impacted on every level of the Canadian automotive value chain, from dealers and extending to every major player in the industry including the Small and medium-sized OEM suppliers. The long term outlook of the Canadian automotive industry is mixed with some good prospects, although recovery of the overall North... Read More
The details of the first-phase of prohibition to imports of used automotive parts and components were revealed yesterday during the joint media statement by YBhg. Datuk Dr. Rebecca Fatima Sta Maria, Secretary General of Ministry of International Trade and Industry (MITI) and the Federation of Engineering and Motor Parts Traders’ Associations, Malaysia (FEMPTAM) and Federation of Automobile Workshop Owners Association of Malaysia (FAWOAM). The first phase of prohibition of imported used parts and components will commence 1 June 2011, starting with the the most critical items namely brake linings, brake pads, batteries and tyres. The decision was made through consultations between the Government and the industry players.
Under the review of the National Automotive Policy (NAP) which was announced on 28 October 2009, the Government decided to adopt this measure to address concerns of road safety, market for domestic parts and components manufacturers, as well as environment.... Read More
The International Greentech & Eco Products Exhibition & Conference Malaysia 2011 (IGEM 2011) will be held from 7-10 September 2011 at the Kuala Lumpur Convention Centre (KLCC). IGEM 2011 is organised by the Ministry of Energy, Green Technology and Water (KeTTHA) with the theme “A Green New Deal: The Next Frontier”. This event is endorsed by MITI.
The objectives of IGEM 2011 are to:
- create awareness among the industry players on the importance of green technology and eco-products for sustainable consumption and production;
- develop environmental-friendly products and services, and green supply chain and promote the reduction of carbon dioxide (CO²) emissions;
- showcase creative green technology and services, eco-products and initiatives;
- foster development of eco-prenuership and green economy; and
- promote Malaysia as a regional green economy hub for eco-products, and green technology and services.
The IGEM 2011 will continue to focus on sustainable energy, renewable... Read More
The Deputy Minister of International Trade and Industry, YB Dato’ Mukhriz Mahathir led a Trade and Investment Mission to Tokyo and Osaka, Japan from 17-21 July 2011. He was accompanied by a 48-member delegation from the various State Governments and private sector representatives.
The Mission was a follow-up to the working visit to Osaka by YB Dato’ Sri Mustapa Mohamed, Minister of International Trade and Industry on 29 June 2011. The mission highlighted Malaysia’s support in Japan’s rebuilding efforts following the March 11 natural calamities.
In Tokyo, the Deputy Minister had two sessions of Round Table Meetings with captains of industries, Japanese importers as well as trade associations. The Deputy Minister also met with eight Japanese companies to discuss ways in which Malaysian companies can participate in Japan’s rebuilding efforts. At a seminar in Osaka which was attended by 270 Japanese participants mainly from the E&E, automotive and trading industries the... Read More
The investigation on the imports of hot rolled coils (HRC) into Malaysia pursuant to the Safeguards Act 2006 was initiated on 1 May 2011 upon receiving a petition for an investigation submitted by Megasteel Sdn. Bhd. The company claimed that the imports of HRC into Malaysia have increased from 2007 to 2010 and have caused serious injury to the domestic industry in Malaysia.
Pursuant to section 20 of the Safeguards Act 2006, the Government has completed the investigation and has made a preliminary determination that there was an increase in imports by 35% during the period of injury determination i.e., from 1 January 2010 to 30 September 2010. However, the increased in imports have not caused or threaten to cause serious injury to the domestic industry.
Based on the preliminary findings, the Government decided to terminate this investigation on the imports of HRC into Malaysia on 22 August 2011, the day the notice of negative preliminary determination is published in the... Read More
The Deputy Minister of International Trade and Industry, Y.B. Dato’ Mukhriz Mahathir is on a Working Visit to Osaka, Nagoya and Tokyo, Japan from 11 until 15 December 2011. This Working Visit is in conjunction with Invest Malaysia Road Show organised by Bank of Tokyo Mitsubishi UFJ Berhad from 12 until 14 December 2011 in the three cities.
The Deputy Minister is accompanied by Government Officials, State Government Representatives and a business delegation. The objectives of the Working Visit are to:
i. follow up to the Trade and Investment Mission to Japan in July 2011;
ii. promote Malaysia as the preferred investment destination in South East Asia; and
iii. further enhance bilateral trade and investment relations between Malaysia and Japan.
Programmes arranged for the Working Visit include meetings with Japanese companies, Invest Malaysia Road Show, and factory visits.
Japan is... Read More
Services sector is new engine of growth
by: Dato’ Sri Mustapa Mohamed
THE services sector is overtaking manufacturing as the main contributor to economic growth. This will have vast implications on where people are going to find work and what skills they will need to get employed.
The government’s growth target is very clear: To become a developed nation by 2020. Using a World Bank definition, that means having a per capita income of RM49,500 (US$15,000) by the end of the decade. The per capita income level in 2010 was RM23,100 (US$7,000).This is an ambitious target and requires gross domestic product (GDP) growth of at least 7 per cent per year.
Historically, the country’s growth had been led by manufacturing. But when the government reviewed its economic policy last year, it realised that this may not be the case for much longer.
For two reasons. In developed economies, the services sector is usually the biggest contributor to economic output.
Last year,... Read More
TRADE Ministers from 153 World Trade Organisation (WTO) countries met in Geneva last week to discuss multilateral trade issues. But most will remember this as the year Russia concluded its 18-year marathon negotiations and joined the world organisation.Three other countries – Vanuatu, Samoa and Montenegro – also joined the WTO, bringing its coverage of world trade to 97%.
This is all for the good because greater inclusiveness means more countries will come under the trading guidelines of a common multilateral trading system.
For Malaysia, Russia’s accession would increase stability and openness in its domestic business environment and this will be good for our exporters. Our main exports to the Russian Federation are palm oil, electronics and electrical goods, iron and steel and rubber products.I had the privilege of chairing one of the plenary sessions as well as two working sessions – Trade and Development and the Doha Round of negotiations. I also chaired the Islamic...