YB Minister, Dato’ Sri Mustapa Mohamed received a courtesy call from German Ambassador, H.E. Dr. Guenter Georg Gruber and Dr Ernst Roeder-Messell, Counsellor for Economic, Commercial and Environmental Affairs Germany at his office.

Total trade for 2009, the bulk of which went to North east Asia and ASEAN reached the RM988.2billion mark. Exports were valued at RM 553.3 billion. Total investments approved for the year in the manufacturing sector came to RM32.6 billion. This exceeded the RM27.5 billion target set under the Third Industrial Master Plan. Foreign investments garnered RM22.1billion while domestic investment raked in the rest. Total trade in services for the most part of 2009 amounted to RM141.8 billion, with exports accounting for RM72.7 billion and imports RM69.1 billion. Total investments of RM208.3 billion were approved in the services sector from 2006 – 2009 with domestic investment this time comprising 88% and foreign investment 12%. View the  media release of YB Minister’s session with foreign Ambassadors, High Commissioners and Trade Counsellors.

 

H.E. Kiat Sittheeamorn, President of the Thailand Trade Representative (TTR) led a 130-member delegation for a visit to Malaysia from 28-29 March 2010. Aimed to further strengthen the bilateral economic relations between the two countries, the visit also sought to explore potential business opportunities for both countries. The visit reinforces the commitments made by leaders of both Malaysia and Thailand when Y.A.B. Dato’ Sri Mohd Najib Tun Razak visited his Thailand counterpart, H.E. Abhisit Vejjajiva last year to bring existing bilateral relation to a higher level. A series of activities were held in conjunction with the visit, including a Seminar on Malaysia -Thailand Trade and Investment Cooperation, bilateral meetings with Minister of International Trade and Industry, Minister of Plantation Industries and Commodities, as well as the signing of a Memorandum of Understanding between British Dispensary (L.P.) Co. Ltd. and CCM Co. Ltd. Malaysia. During the bilateral...

The Institute for Management Development (IMD), based in Lausanne, Switzerland, issued its World Competitiveness Yearbook 2011 Report (WCY2011) yesterday, reporting that Malaysia’s ranking among 59 economies has declined from 10thposition in 2010 to 16th position this year. The Malaysian Government has embarked on a number of initiatives to enhance competitiveness. The Government Transformation Programme (GTP) has addressed fundamental nationwide changes through 6 national key result areas (NKRAs) (Reducing Crime, Fighting Corruption, Improving Student Outcomes, Raising Living Standards of Low-Income Households, Improving Rural basic Infrastructure, Improving Urban Public Transport). Subsequent to that in October 2010, the Economic Transformation Programme (ETP) has prioritized 11 sectors of National Key Economic Areas (NKEAs) and the Greater KL Project. The ETP has identified a total of 131 Entry Point Projects (EPP) with a total investment value of RM794.5 billion as part of...

The Malaysia-India Comprehensive Economic Cooperation Agreement (MICECA) will come into effect on 1 July 2011. The free trade agreement addresses issues related to the liberalisation of trade in goods, trade in services, investments and economic cooperation. It is Malaysia’s fourth bilateral FTA after Japan, Pakistan and New Zealand.The benefits provided by MICECA are in addition to those already made available under the ASEAN-India Trade in Goods Agreement (AITIG) which was implemented on 1 January 2010. Under MICECA, Malaysia and India will progressively reduce or eliminate tariffs on an agreed list of industrial and agricultural products between 1 July 2011 and 31 December 2019. Malaysian exporters will enjoy free duty market access for rubber products, chemical products and electrical equipment from 1 July 2011. Imports from India into Malaysia will enjoy zero or lower duties for live animals and meat, textile materials and manufactures of metal beginning 1 July 2011. For...

The Government of Malaysia has agreed to enforce mandatory standards effective 1st November 2011on 6 tariff lines of aluminium sheets and foils.The enforcement of the mandatory standards has been gazetted under the Customs Order (Import Prohibition) (Amendment) (No.3) 2011 on 30th September 2011 involving the following Customs Harmonised System (HS) tariff lines: aluminium plates, sheets and strip of a thickness exceeding 0.2 mm, whether or not alloyed 7606.11.000 7606.12.000 aluminium foil of a thickness not exceeding 0.2mm, not backed: 7606.91.000 7606.92.000 rolled but not further worked other 7607.11.000 7607.19.000 2. The implementation of mandatory standards on aluminium productsis to ensure raw materials used in end-products meet the quality and safety requirements, minimise the importation of sub-standards products, as well as support the development and competitiveness of the local aluminium industry by producing high quality products that meet international...

Sustained economic reform is essential. If there’s one lesson we can take away from the economic turmoil in the West, it’s that the failure to change will drive prosperity away. After decades of uninterrupted growth, Western nations are losing their edge in a cut-throat global environment which has seen Asia and Latin America emerge as alternative economic powerhouses. The fact that Eurozone leaders were contemplating seeking assistance from China and Brazil last weekend to bailout Greece speaks volumes on how the balance of economic power has shifted eastwards and the failure of the developed nations to reform their economies.  Malaysia, on the other hand is seeing a rise of investor confidence. This is in part due to the bold economic reforms we have undertaken since 2009, including liberalization. The proof is the fact that both the World Economic Forum (WEF) and the World Bank have recently highlighted Malaysia’s...

Moving out of the middle-income trap means, among other things, building an economy that has the capacity to innovate and use innovations to compete in the market place. So being able to convert ideas into products is a key to success. What is our record in this regard? Introduction To reach developed nation status by 2020, the Government has projected that the country needs to grow by 6% annually. And this growth has to be productivity-driven. Not only must we be able to put bricks and mortar together, but we must also be able to work smarter and be more creative and innovative. An innovation-driven economy must have the ability to commercialize ideas that individuals or R&D centres produce. It also must have the capacity to commercially exploit patented ideas and resources for public use.   Where do we stand? The latest World Economic Forum (WEF) Global Competitiveness Report ranked Malaysia the 21st most competitive out of 142 economies it surveyed. However, in the...

YB Dato Sri Mustapa Mohamad, Minister of International Trade and Industry (MITI), stressed that the uncertain global economic scenario reflects the importance of the multilateral trading system in ensuring that economies resist protectionism. MITI Minister said this in the APEC Ministerial Meeting held in Honolulu, United States of America, on 11 November 2011. Minister Mustapa highlighted that the WTO has been an important body in ensuring that global trade is conducted according to rules and disciplines that have been collectively agreed, and that markets are kept open. Dato’ Sri Mustapa also drew attention to the fact that global supply chains are more integrated today and therefore vulnerable to the impacts of natural disaster, as seen in the Fukushima incident and the Thai floods. “Given our interdependence, we must resist protectionism and instead focus on measures that facilitate trade.” On the Doha Round, MITI Minister noted that negotiations over...

Baru-baru ini pada 16 Nov 2011, Timbalan Menteri MITI, YB Dato’ Mukhriz Mahathir telah menghadiri majlis memeterai pengeluaran bersejarah panel solar yang ke 3,000 mega-watt di Kilang First  Solar Malaysia Sdn Bhd di Kulim Hi-Tech Park.Dato’ Mukhriz berkata melalui usaha kerajaan banyak syarikat berkelas dunia telah memulakan operasi pengeluaran panel solar di Malaysia. Dengan menawarkan insentif seperti pelupusan cukai keuntungan syarikat pengeluar panel solar selama 15 tahun, kadar faedah yang rendah dan infrastruktur yang baik, Malaysia kini menjadi pilihan utama destinasi pelaburan langsung asing (FDI) dalam sektor ini. Menurut Dato’ Mukhriz lagi, kerajaan komited untuk memastikan Malaysia menyediakan persekitaran terbaik bagi pelaburan asing dan domestik bagi memastikan sektor ini berkembang pesat. Penggunaan 100% tenaga kerja tempatan di First Solar Malaysia membuktikan kejayaan Malaysia sebagai destinasi pelaburan yang mampu bersaing dengan negara lain terutama...