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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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MITI, SCE To Jointly Conduct Talent Development Programme
October 13, 2015 , by admin2

KUALA LUMPUR, Sept 8 (Bernama) — The Ministry of International Trade and Industry (MITI) has teamed up with Singapore Corp Enterprise (SCE) to conduct a talent development programme for officers from MITI and its agencies.

Deputy Minister, Datuk Ahmad Maslan, said the eight-month programme, from September 2015 to April 2016, was the first of its kind for Malaysian civil service and would involve 122 officers.

“The platform, called the Economic Policy Leaders programme, would enhance the professionalism and charisma of the officers,” he said after the signing of the memorandum of understanding between MITI Deputy Secretary-General, Datuk Jayasiri Jayasena, and SCE Chief Executive Officer, Kong Wy Mun, here today.

Also present was Temasek Foundation Chief Executive Officer, Benedict Cheong.

Ahmad said the programme would be held in Malaysia and will be followed by a learning visit to Iskandar, Johor and Singapore.

The cost of approximately RM750,927 would be equally funded...

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Malaysia Must Adopt Strategic Tools To Improve Labour Productivity - Ahmad Husni
October 13, 2015 , by admin2

PUTRAJAYA, Aug 11 (Bernama) — Enhancement of management skills, niche technology and effective organisation, are the strategic tools identified to improve labour productivity, said Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah.

He said as labour productivity is expected to grow 3.7 per cent annually to RM92,300 by 2020, Malaysia also needs to improve and increase workers’ skills.

“The required advanced skills and technology is the best competitive edge for economies to move up the value chain and beyond the simple production processes and products,” he added.

Ahmad Husni told the media this after chairing the 2016 Budget Focus Group on “Improving Labour Productivity: Public and Private”, here today.

“Looking back at last year’s performance, national labour productivity growth, covering both the public and private sectors, was at 3.5 per cent to RM61,708 per employee from RM60,437 in 2013,” he said.

He said by sector, construction registered the...

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AEC To Spur Investments From ASEAN Into Malaysia
October 13, 2015 , by admin2

KUALA LUMPUR, Aug 10 (Bernama) — Foreign Direct Investments (FDI) in Malaysia from its ASEAN peers is expected to gain momentum with the ASEAN Economic Community (AEC) becoming a reality from Dec 31 this year.

Minister of International Trade and Industry (MITI) Datuk Seri Mustapa Mohamed said the sustained removal of barriers among the 10-member grouping, had led to an expansion in intra-ASEAN trade and investments, from US$1.22 billion in 2000 to US$24.4 billion in 2014.

“This accounts for 17.9 per cent of the total US$136.2 billion FDI inflows into the region last year,” he told reporters at the AEC Open Day here Monday.

Mustapa said similarly, intra-ASEAN trade accounted for 24 per cent of the total ASEAN trade or US$608 billion.

Meanwhile, ASEAN’s per capita income now stands at US$4,130 with intra-ASEAN trade expected to grow to 30 per cent by 2020.

He also said being the ASEAN Chairman this year, Malaysia wants to prepare local small and medium enterprises...

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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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MITI Weekly Bulletin Volume 104
June 26, 2015 , by admin2
MITI Weekly Bulletin Highlights of the MWB this week includes: Malaysia-New Zealand FTA Under the Malaysia-New Zealand Free Trade Agreement (MNZFTA) which came into effect on 1 August, Malaysia and New Zealand will progressively reduce or eliminate tariffs on their respective industrial and agricultural products by 2016. Malaysian exporters will enjoy free duty on … T&I Mission to Seoul and Busan, Republic of Korea and working visit to Shanghai, The People’s Republic Of China The 62-member Trade & Investment delegation to the Seoul, Busan and led by Y.B. Dato’ Sri Mustapa Mohamed recorded potential Korean and Chinese investment interests in solar industries, green technology, automotive and petrochemical industries as well as …… Termination of Anti-dumping and Anti-subsidy Investigations on Imports of Stainless Steel The European Commission (EC) on 14 July 2010 has terminated the anti-dumping and anti-subsidy investigations on stainless steel fasteners and parts thereof (SSF)...
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MITI Weekly Bulletin Volume 105
June 26, 2015 , by admin2
MWB-Vol105-12Aug2010 Highlights of the MITI Weekly Bulletin, Vol. 105 includes: Global Foreign Direct Investment in 2009 In 2009 global foreign direct investment (FDI) inflows shrank by 37.1% (y-o-y) to US$1,114.2 billion, while outflows fell by 42.9% to US$1,101 billion. In 2010, the United Nations Conference on Trade and Development (UNCTAD) expects global FDI inflows to reach more than US$1.2 trillion. Developing and transition economies such as Brazil, the Russian Federation, India and China (BRIC) are expected to lead the FDI recovery and will remain favourable destinations for FDI. Investments In Manufacturing And Manufacturing Related Services (January – May 2010) F rom January to May 2010, a total of 334 projects were approved in the manufacturing sector with investments amounting to RM8.9 billion. Domestic investments amounted to RM4.5 billion (50.6%) while foreign investments totaled RM4.4 billion (49.4%). Potential for Bird’s Nests Export to Hong Kong I n 2009, Hong Kong...
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MITI Weekly Bulletin Volume 107, 26 August 2010
June 26, 2015 , by admin2
MWB-Vol107-26Aug2010 Highlights of the MITI Weekly Bulletin, Vol. 107 includes: Malaysia to Become a Global Photovoltaic Industry Player Photovoltaics (PV) has been used for over half a century in a range of applications and is recognised globally as they offer solutions to meet increasing energy demand. Malaysia has the potential to become one of the leaders in solar PV manufacturing. With investments from top ranking global companies like Q-Cells, First Solar and SunPower, Malaysia is poised to become a global hub for solar PV manufacturing by 2011. It is estimated that the cumulative revenues from the PV industry will contribute up to 4% of the national GDP by 2020. Updates on the Indonesia–Malaysia–Thailand GrowthTriangle The Indonesia–Malaysia–Thailand Growth Triangle (IMT-GT) was formed in July 1993, with the objective of accelerating and facilitating economic development in participating regions/countries through greater integration of trade and commerce in the sub-regions. Six...
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MITI Weekly Bulletin Volume 108, 1 September 2010
June 26, 2015 , by admin2
MITI Weekly Bulletin Volume 108 Highlights of the MITI Weekly Bulletin, Vol. 108 include: Investments in Manufacturing and Manufacturing-related Services (January - June 2010) From January to June 2010, a total of 455 projects were approved with investments amounting to RM13.2 billion. Foreign investments were RM7.5 billion (56.8%) while domestic investments were RM5.7 billion (43.2%). A total of 270 projects were new projects with RM7.2 billion (54.5%) investments. Main areas of investment …. Standards on Supplying Furniture To The UK Malaysian exporters wishing to supply furniture products to government agencies in the UK must adhere to the UK Government Buying Standards on Furniture. The Standard emphasises on the sourcing of furniture that utilises materials with low environmental impact and from sustainable sources. UK Deregulates Import of Fresh Fruits and Vegetables Beginning 20 July 2010, the UK Government has de-regulated its import control on fruits and vegetables from non-EU sources which...
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MITI Weekly Bulletin Volume 109, 7 September 2010
June 26, 2015 , by admin2
 

mwb-109-7sept2010

 

 

Highlights of the MITI Weekly Bulletin, Vol. 109 include:

Barriers to Free Trade: APEC Business Leaders Voice Concern At the 3rd APEC Business Advisory Council (ABAC) Meeting held in Bangkok from 24-27 August, 2010, business leaders from 21 APEC economies expressed their concern over new trade protection measures that have emerged in the wake of the global financial crisis. While most APEC economies have not resorted to such measures and have in fact liberalised trade and investment, business leaders noted that some have continued to take trade restrictive measures. Progress of Malaysia-Turkey Free Trade Agreement (MTFTA) Negotiations Malaysian and Turkish officials held their second meeting of Malaysia-Turkey Free Trade Agreement (MTFTA) from 23 to 25 August 2010 in Kuala Lumpur, Malaysia. The MTFTA is expected to boost trade and investment between the two countries. Turkey is an attractive market for Malaysian products as it has a large population base of 77...
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