Miti Blog

Ministry of International Trade and Industry Malaysia Official Blog

Tag Archives: FTA

Malaysia-OIC bilateral trade to rise 19% this year
November 18, 2015 , by vox vox

KUALA LUMPUR: Bilateral trade between Malaysia and the Organisation of Islamic Cooperation (OIC) countries is expected to rise by 19% by the end of this year and by 25% next year, said International Trade and Industry (Miti) Minister Datuk Seri Mustapa Mohamed.

“Today, OIC countries’ share of global merchandise trade is still low. We are still trading with other countries (non-Islamic nations).

“Because of this, Malaysia has successfully signed a bilateral free trade agreement (FTA) with Turkey and Pakistan as a catalyst to boost bilateral trade between the Muslim nations,” he said.

He said Muslim nations had much to offer to the world, as they always had, from knowledge and resources to culture and products.

“And now, the Muslim world also has big opportunity in the halal economy and in trade and investment in halal goods and services.

“This opportunity should not be missed by OIC nations as many non-Islamic nations are already seeing the profit in this industry...

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Malaysia Sasar Eksport Lebih Banyak Produk Pertanian Ke Turki
October 13, 2015 , by admin2

KUALA LUMPUR: Perbadanan Pembangunan Perdagangan Luar Malaysia (Matrade) menyasarkan untuk meningkat eksport barangan pertanian ke Turki tahun ini, diperkukuh oleh permintaan yang semakin meningkat ke atas buah-buahan tropika di negara itu.

Pesuruhjaya Perdagangan Matrade di Istanbul Idzham Abd Hamid berkata buah-buahan tropika seperti nanas, belimbing dan buah naga, mendapat permintaan tinggi di Turki.

Istanbul kini mengimport sebagaian besar buah-buahan tropika dari Belanda.

“Kita patut merebut peluang untuk mengeksport (lebih banyak) buah-buahan tropika kita ke negara itu,” katanya kepada pemberita di uar seminar Perjanjian Perdagangan Bebas (FTA) Malaysia-Turki, di sini, Rabu.

 

Eksport utama Malaysia ke Turki bagi tempoh Januari hingga Julai 2015 terdiri daripada barangan pertanian, dengan dagangan bagi segmen itu bernilai  RM386 juta, diikuti barangan pembuatan (RM1.2 bilion) dan barangan perlombongan  (RM3.3 juta).

Seminar bertema ‘Memanfaatkan FTA...

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Mustapa: Asean on track for progressive trade liberalisation
October 13, 2015 , by admin2

Asean countries are on track for progressive liberalisation of trade within the region, covering 128 sub-sectors via the Asean Framework Agreement on Services (AFAS).

The liberalisation will boost the services sector’s contribution to the region’s gross domestic product (GDP) from the current 40% to 50%, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed.

He said AFAS will be a platform for services providers to take advantage of the market openings as well as to benefit from new ideas and processes arising out of the opening of the services sector.

Efforts has been put into concluding the AFAS 10th package by year-end to provide wider and better opportunities for members in tapping the benefits of the services sector,” he said in his opening address at the inaugural Asean Service Provider Confederation (ASPC) meeting yesterday.

His speech was read by Malaysia External Trade Development Corp (Matrade) CEO Datuk Dzulkifli Mahmud. Last year, Asean...

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Malaysia Perhebat Terokai Turki Susulan Permeteraian MTFTA
October 13, 2015 , by admin2

KUALA LUMPUR, 4 Ogos (Bernama) — Malaysia akan memperhebat penerokaan pasaran Turki susulan pelaksanaan Perjanjian Perdagangan Bebas Malaysia-Turki (MTFTA) yang dimeterai pada Sabtu, kata Menteri Perdagangan Antarabangsa dan Industri Datuk Seri Mustapa Mohamed.

Beliau berkata Malaysia akan mempromosikan pelaburan dan perkhidmatan di Turki, selain perdagangan.

“Ia pengubah permainan dan satu cara yang wajar dilakukan, terutamanya apabila mengambil kira Malaysia mempunyai pelaburan bernilai US$2 bilion (US$1 =RM3.85) di Turki.

“(Pelaburan) Kita agak besar di Turki menerusi Khazanah Nasional Bhd dan Malaysia Airports Holdings Bhd (MAHB),” katanya kepada pemberita selepas menerima kunjungan hormat Menteri Luar Turki, Mevlut Cavusoglu di pejabatnya, di sini hari ini.

Khazanah Nasional memegang 75 peratus kepentingan dalam rangkaian hospital terbesar Turki manakala MAHB mengambil alih operasi Lapangan Terbang Antarabangsa Sabiha Gokcen Istanbul dan LGM Havalimani Isletmeleri...

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SOME NOTES ON FREE TRADE AGREEMENTS (FTAs)
July 6, 2015 , by admin2
Excerpts from YB Minister’s speech during MITI Dialogue 2009 MITI continues to negotiate FTAs to open markets for businesses. Malaysia has signed and implemented bilateral FTAs with Japan and Pakistan and recently concluded negotiations with New Zealand. Malaysia is also a party to five regional FTAs namely ASEAN-China, ASEAN-Korea, ASEAN-Japan, ASEAN-Australia-New Zealand and ASEAN-India. Currently, Malaysia is negotiating bilateral FTAs with the US, India, Chile and Australia, and the regional ASEAN-EU FTA. Malaysian companies should capitalise on the regional and bilateral FTAs to gain an edge over their competitors, particularly under these trying times. It should be worth noting that the number of certificates of origin issued by MITI to our exporters, under the preferential schemes of the five regional ASEAN FTAs and the ASEAN CEPT increased 13.0 per cent to 222,476 in 2008. The number of companies exporting under the various FTAs has also increased from 4,160 in 2007 to...
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41st ASEAN ECONOMIC MINISTERS (AEM) MEETING
July 6, 2015 , by admin2
ASEAN Economic Ministers at their meeting in Bangkok on 13-16 August 2009 announced that the establishment of ASEAN Economic Community (AEC), especially the creation of a single market, is on track. Y.B. Dato’ Mustapa Mohamed, Minister of International Trade and Industry, led the Malaysian delegation. The ASEAN Economic Ministers noted that initiatives to create a single market have contributed to the significant increase in intra-regional and extra-ASEAN trade. Intra-ASEAN trade in 2008 was US$453 billion or 26.7% of ASEAN’s external trade. Ten years ago, intra- ASEAN trade was only US$120 billion. In 2008, ASEAN’s global trade exceeded the trillion dollar mark at US$1.69 trillion. ASEAN has also remained an attractive destination for FDI despite global challenges. ASEAN as a region has attracted investments totaling US$184.6 billion over the period 2006-2008. Internally, ASEAN is close to full integration through AFTA. A favourable environment for cross-border investment...
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SEMINAR ON OPPORTUNITIES FROM AFTA & OTHER REGIONAL FTAs
July 3, 2015 , by admin2
MATRADE in collaboration with MITI is holding a seminar today entitled “Optimising Opportunities Under AFTA & Other ASEAN Regional FTAs” from 9.00am to 1.30pm at MATRADE Hall. The objective of the seminar is to update the industry on the benefits from the FTAs that ASEAN has signed and how it could impact the way local businesses operate. It also explores how businesses can optimise opportunities that are available from the sharing of actual case studies and experiences. This seminar is among the outreach initiatives coordinated by MATRADE and MITI to develop the competency of Malaysian exporters, highlighting the market access opportunities available to them via FTAs.   Read More
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Malaysian Businesses Must Capitalise On Competitive Edge In Service Sectors
July 2, 2015 , by admin2
Malaysian businesses should capitalise on their competitive edge in the service sectors to tap preferential trade facilities under the China-Asean Free Trade Agreement (CAFTA), said International Trade and Industry Deputy Minister Datuk Mukhriz Mahathir. “I see there is less competition in the services sector as it is totally different from other sectors..it very much depends on quality. “I think Malaysians have certain inherent advantages that we should make full use of,” he told Bernama on the sidelines of the “2010 FOCAFTA” seminar here on Thursday. Mukhriz said there was massive construction going on in many parts of China where Malaysian companies could provide architecture or design services to China. “China can look up to our capablities in this aspect. This is one area we can pursue further,” he said, adding that China was a huge market which also offered business opportunities in several other sectors for Malaysians. Mukhriz said if Malaysian businesses...
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Another Milestone in FTAs
July 2, 2015 , by admin2
The ASEAN-India Free Trade Agreement (AIFTA) came into effect on 1 January 2010 for Malaysia and India. It is a remarkable milestone towards a freer market environment, and an important agreement for Malaysia as India is emerging as an important trading partner as well as a market for Malaysian exports. This FTA creates a market of 1.7 billion people with combined GDP of US$2.8 trillion and combined global trade of over US$2 trillion. Under the AIFTA, ASEAN Member States and India have agreed to progressively reduce and eliminate duties on substantial number of products over a period of 3-8 years beginning 1 January 2010. The Philippines, Cambodia, Lao PDR, Myanmar and Viet Nam are given an additional 2-3 years to reduce and eliminate their duties under this FTA. Dato’ Sri Mustapa Mohamed says that Malaysia is committed to eliminate import duties on 6,792 products or tariff lines by 31December 2013, while duties on another 1,266 tariff lines would be eliminated by 31 December...
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Meeting “country of origin” requirements - the key to qualifying for preferential tariff rates
July 1, 2015 , by admin2
 
Free trade agreements now in place between Malaysia on a bilateral and regional basis - mean Malaysian exporters are able to export their products to selected countries and can qualify for preferential rates of import duties. All the FTAs have their own specific set of Rules Of Origin (ROO). They are not standard.Exporters take note - study the ROO so as not to be denied preferential tariffs when exporting your products.  
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