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...

Sidang Kemuncak ASEAN ke 19 telah membincangkan beberapa cadangan ekonomi yang telah dikemukakan oleh Majlis Komuniti Ekonomi ASEAN. Dalam keadaan ekonomi dunia yang tidak menentu dan juga keraguan terhadap pemulihan segera ekonomi Eropah, pemimpin-pemimpin ASEAN dan rakan-rakan dialog telah bersetuju supaya ASEAN dan negara-negara Asia Timur perlu bekerjasama dan mempercepatkan integrasi ekonomi rantau ini. Pada keseluruhannya, kadar pelaksanaan purata langkah-langkah AEC bagi Fasa 1 dan 2 adalah 75.6 peratus.Kadar pelaksanaan purata bagi Malaysia untuk kedua-dua fasa adalah 88.55 peratus. Ini menunjukkan bahawa ASEAN menghadapi cabaran untuk merealisasikan Komuniti Ekonomi ASEAN pada tahun 2015, kecuali ASEAN menggandakan usaha bagi melaksanakan langkah-langkah integrasi ekonomi yang telah dipersetujui. Maklum balas yang diterima daripada sektor swasta menunjukkan bahawa ASEAN perlu memberi keutamaan kepada aspek-aspek berikut: (i) fasilitasi perdagangan; (ii) standard...

 

The Trans-Pacific Partnership (TPP) is a trade and investment liberalization initiative involving nine countries - Australia; Brunei; Chile; Malaysia; New Zealand; Peru; Singapore; United States; and Viet Nam. The aim of the TPP is the creation of a Free Trade Agreement (FTA) that will enhance trade and investment among the TPP partner countries and set new standards in the conduct of global trade.   To date, nine rounds of negotiations have been held. On November 11, 2011 during the APEC Summit in Honolulu, TPP Leaders were presented with the broad outline of a draft agreement which highlights the shared aspirations and ambitions of the nine countries involved. This was achieved despite the complexity of the issues discussed and the different developmental status of the negotiating partners.   TPP members are targeting to conclude negotiations in 2012, with July 2012 as an important milestone to agree on substantially all areas.  The Intersessional meeting scheduled from 5 –...

Date     :19 December 2011 (8.30 am – 4.30 pm) Venue   : Matrade Exhibition & Convention Centre (MECC) URL      : http://bit.ly/tH9j85

 

 

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.    Bilateral Trade Japan is...

The 10th negotiating round of the Trans-Pacific Partnership was held from 5-9 December 2011 Kuala Lumpur. The main purpose of the meeting was to discuss the way forward in light of the recent instructions from the TPP Leaders to redouble their efforts in 2012 to conclude negotiations.    The KL negotiations was a mini round and only selected negotiating Groups met, including Investment, Services, Rules of Origin and Intellectual Property Rights. There were also market access negotiations on goods, agriculture and textiles. Close to 200 participants attended this round.   Progress was achieved in all the Working Groups, as negotiators narrowed the differences in the text and market access negotiations.   All 20 Working Groups will be developing a detailed work programme, including milestones for progress, inter-sessional activities and other steps needed for concluding work in their respective areas.   Plans are underway to hold the 11th round in Australia in March 2012....