Mandatory standards requirement provides a competitive edge to Malaysian exporters in the global arena, while protecting the interest of consumers in the local market. As of 31 March 2011, a total of 6,450 Malaysian Standards (MS) have been developed. A total of 3,811 standards are aligned with international standards (59.1%) and 328 standards have been made mandatory (5.09%). Mandatory standards aim to improve and set an acceptable quality of imported and local products in Malaysia’s market. The three elements of safety, health and environment are safeguarded by mandatory standards. MITI through the Committee on Mandatory Industrial Standards (CMIS) has been tasked to identify and coordinate the implementation of mandatory standards for manufactured products with a view to promote quality and safety. The CMIS has established four taskforces comprising members from both the public and the private sectors to identify products that would be made mandatory. These include building...

The 2011 APEC Economic Policy Report (AEPR) was released on the sidelines during the meetings of APEC officials in Big Sky, Montana, United States from 7-21 May 2011. The report shows the progress of individual APEC economies in pursuing domestic structural reforms. It also evaluates APEC’s work in raising awareness of the importance of structural reforms, and building the capacity of its member economies, particularly developing ones, to carry them out. The AEPR 2011 shows various research results which underscore the importance of undertaking structural reform to achieve economic growth. A study by APEC has found that reform in key infrastructure industries in member economies has resulted in lower prices for consumers, increased consumer choice and improved efficiency and productivity. It has also estimated that further reform in the energy, telecommunications and transport sectors of the APEC region will generate USD175 billion a year in additional income. Many programmes...

The Investment Committee (IC) established in October 2010 is a joint initiative of MITI and PEMANDU to ensure better coordination in the area of investments between all Government and investment agencies involved in investment promotion. The IC also looks into the objectives and targets of the Economic Transformation Programme (ETP) to ensure that this initiative is fully realised. The IC is co-chaired by Y.B. Minister of MITI and CEO of PEMANDU. Members of the Committee are representatives from the Ministry of Finance (MOF), Economic Planning Unit (EPU), Bank Negara Malaysia (BNM), Performance and Management Delivery Unit (PEMANDU), Ministry of International Trade and Industry (MITI), Malaysian Industrial Development Authority (MIDA) and Department of Statistics Malaysia (DOSM). Ministry of Federal Territories and Urban Wellbeing and Regional Corridors Authority are co-opted when necessary. The IC’s main focus is to promote and facilitate overall investment in achieving the...

YB Dato’ Sri Mustapa Mohamed, Minister of International Trade and Industry presented to the public the ‘Malaysia International Trade and Industry Report 2010’ on 14 June 2011 at MATRADE Exhibition and Convention Centre (MECC). Five hundred guests comprising of representatives from foreign missions, trade associations, industrial organisations and exporters, economists and business students from thirteen universities in Klang Valley participated in the launching ceremony. The Report contains highlights of Malaysia’s trade, investment, industrial and entrepreneurship activities and developments in 2010. The Malaysian economy grew by 7.2% in 2010 and demonstrated the country’s underlying strength and resilience. Strong domestic demand and a steady recovery in global trade helped deliver a strong turnaround in 2010. The Minister emphasised that private sector will continue to assume the main role of driving the nation’s economic growth. To facilitate private sector’s...

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...

Dato’ Sri Mustapa Mohamed, Minister of International Trade and Industry (MITI) made a five-day working visit to Brussels and London from 11-15 July 2011 in conjunction with the official visit of Prime Minister to the United Kingdom from 12-15 July 2011.   The visit was successful in further strengthening and enhancing economic, trade and investment relations with Belgium and the United Kingdom. The Minister held bilateral talks with Mr. Karel De Gucht, EU Trade Commissioner on 11 July 2011 in Brussels. Among the topics discussed were Malaysia-European Union Free Trade Agreement negotiations, halal issues and WTO Doha Development Agenda negotiations. He also held business meetings with the Belgian companies, who have shown their interest to invest and expand their operations in Malaysia where the Minister assured that MIDA will provide assistance to them.   In London, the Minister attended a Roundtable Session with captains of the industries. Issues highlighted include...

The US-ASEAN Business Council conducted its annual Senior Executives Business Mission to Malaysia from 19-21 July 2011 aimed at promoting stronger business-to-business linkages between Malaysian and US multinational companies (MNCs). The delegation comprised of 43 senior business executives representing 20 US MNCs and to date, it is the largest delegation to Malaysia. This visit demonstrated that there is a growing interest by US MNCs to invest in Malaysia. On 20 July 2011, the delegation met Dato’ Jacob Dungau Sagan, Deputy Minister (Industry) and several views on bilateral trade and economic issues were exchanged. Issues related to the Trans-Pacific Partnership (TPP) were also discussed. The Deputy Minister also took the opportunity to brief the delegation on Malaysia’s reform agenda, in particular the Government Transformation Programme (GTP) and Economic Transformation Programme (ETP). The US delegation applauded Malaysia’s approach to engage more private sectors in...

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:

The IGEM 2011 will continue to focus on sustainable energy, renewable...

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...