KUALA LUMPUR, July 18 (Bernama) — The International Trade and Industry Ministry (MITI) will host an open day on Aug 1 to mark the ongoing 18th Round of the Trans-Pacific Partnership negotiations in Kota Kinabalu.
Malaysia’s participation in the talks have received various reactions from the people including political parties, non-governmental organisations, industry and business chambers representatives, the ministry said.
“Eventhough the ministry has held many meetings with various interest groups, it acknowledges that there are still many TPP-related matters that need to be explained to the people,” MITI said in a statement.
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June 18, 2015 , by admin2
MUAR (July 21): The government will not trade off Malaysia’s dignity and lead it to bankruptcy in regard to the Trans-Pacific Partnership Agreement (TPPA) negotiations held in Kota Kinabalu last week.International Trade and Industry Deputy Minister Datuk Hamim Samuri in assuring this, said the government would not ink any agreement without considering the views of all concerned parties and safeguarding the people’s rights.“This is evident from the nation’s earnings of around RM200 billion annually from international trade,” he said at a zakat (tithe) presentation to 120 orphans and breaking of fast under the SME Bank social corporate responsibility programme at the Pekan Bukit Gambir Mosque, here, last night.He further assured that the people had no cause to be anxious about the TPPA negotiations as they had not been finalised.“As a developing country that depends on international trade, Malaysia cannot isolate itself but must participate in such negotiations,” he...
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2055 ViewsJune 18, 2015 , by admin2
KUALA LUMPUR, July 22 (Bernama) — By attracting high-value investments, the Malaysian Investment Development Authority (Mida) is seeking to create a work environment ecosystem that is exciting, to lure local talent overseas back to the country.
Apart from higher salary, these younger talent are also attracted to working in a more challenging environment, said Mida’s Chief Executive Officer, Datuk Noharuddin Nordin.
Speaking to Bernama in Bangkok recently, he said while money continued to be a factor in these Generation Y talent going overseas, they were also looking for that “excitement”.
“They want to be in an environment where there’s a lot of innovation, creativity, with state-of-the-art technology being developed,” he added.
Noharuddin, who was met on the sidelines of the 12th Hitachi Young Leaders Initiative (HYLI) in Bangkok, was addressing the issue of the brain drain in Malaysia, and the promotion agency’s mechanism in tackling some of the...
Read More 2438 ViewsJune 18, 2015 , by admin2
KUALA LUMPUR, July 23 (Bernama) — The Malaysian Investment Development Authority (MIDA) has approved a sum of RM220.5 million under the Domestic Investment Strategic Fund (DISF) as of July 19, 2013 for 36 projects, which have an investment value of RM2.074 billion.
The announcement was made by International Trade and Industry Minister Datuk Seri Mustapa Mohamed today.
The RM1 billion DISF was launched by Prime Minister Datuk Seri Najib Tun Razak on July 3 last year.
“We expect by 2015 we can fully allocate the total fund as the timeline for the DISF is within the 10th Malaysia Plan,” he told a media briefing here today.
Projects involving electrical and electronics, services, transport, life sciences and machinery and advanced engineering industries amounted to RM213.7 million or 96.9 per cent of the total grants approved.
The breakdown of approvals by industry is as follows: electrical and electronics with 10 projects approved; services (eight projects); transport (five...
Read More 635 ViewsJune 18, 2015 , by admin2
JAPAN does not think it will be “short-changed” by participating in the Trans-Pacific Partnership (TPP) at an advanced stage of negotiations.
Japan, the world’s third largest economy, has been in trade and investment and economic integration negotiations for a long while.
“If we are not experienced, nobody is,” chief negotiator Koji Tsuruoka said at a media briefing on the sidelines of the 18th round of talks which started on July 15.
“Short-changed? I don’t think so … it will be up to us. Better late than never,” he added.
Japan, which got the go-ahead from its government to join the negotiations earlier this year, had to wait for the green light from the US Congress in accordance with the procedures in the US.
“Japan is happy to join the negotiations under the chairmanship of Malaysia. We’ve had useful talks for a day-and-a-half now with another day to go.
“We have learned a great deal and we have also expressed our views on a number of issues that...
Read More 1143 ViewsJune 18, 2015 , by admin2
THERE’S a global warfare in business and trade. To win it, we must constantly reinvent ways, innovate and devise strategies in order to grow an army of strong-willed and high-potential SMEs in the country.
I associate developing a pool of resilient and competitive SMEs like taking charge of an army battalion, just like my brother-in-law Brigadier General Damien commands a brigade of several battalions of combat troops.
Malaysia’s SMEs are the “Army of Honour” similar to that of Napo-leon’s, who are in many ways capable of revolutionising the country into a powerful empire of growth and prosperity.
In believing so, I find myself unequivocally in support of the G20 leaders for their strong stance and conviction in the potential of SMEs in providing the endogenous growth of the economy and shaping new growth strategies for both developed and developing nations.
Despite the many economic, social and political challenges in achieving greater harmonisation of the SME...
Read More 781 ViewsJune 18, 2015 , by admin2
Malaysia will pursue closer economic ties with its biggest trading partner, China, and will devise plans to attract more investment from Beijing, Malaysia’s International Trade Minister Datuk Seri Mustapa Mohamed said.
Trends showed that Chinese companies are getting more keen to do business and invest in Malaysia despite investment numbers that dwarf the high trade figures at present, Mustapa said last Friday in Cyberjaya.
Malaysia’s trade with China stood at RM302 billion in 2012 according to the latest figures released by the Ministry of International Trade and Industry, an 8% year-on-year increase in 2012. That number is set to grow further this year as trade has increased 3.8% in the first six months of 2013 despite news flow suggesting China’s economic growth is set to slow to 7.5% this year from 7.8% in 2012.
“It is our policy to further increase ties with China. But we will work to attract more investment from China as the investment is lagging behind compared to...
Read More 671 ViewsJune 18, 2015 , by admin2
KUALA LUMPUR, Aug 1 (Bernama) — A level of confidentiality is required in Trans-Pacific Partnership Agreement (TPPA) negotiations as negotiators advancing Malaysia’s strategic interests do not want to publically disclose their bargaining positions, said the Ministry of International Trade and Industry (Miti).
In a statement today, Miti said this would ensure the best outcome during the negotiations, adding regulations and the evolving process of negotiations and rules surrounding the TPPA oblige negotiators to maintain confidentiality of the negotiating texts.
Miti said while the texts have never been made public as negotiations are on-going, the Government has and will continue to share its negotiating position with stakeholders.
Miti said consultations with various stakeholders prior to joining TPPA revealed an increasing request from Malaysian companies for more open markets and trade facilitative measures.
More Malaysian companies are becoming global investors and they... Read More
599 ViewsJune 18, 2015 , by admin2
KUALA LUMPUR: Malaysian exports are likely to show further contraction in June as global demand remained weak and commodity prices continued to be sluggish.
A Business Times poll expects growth to contract by an annualised 6.93 per cent, while supported by a 4.48 per cent growth in the imports which will likely lead to a RM7.96 billion average trade balance.
The International Trade and Industry Ministry will release the data today.
OCBC Bank’s economist Gundy Cahyadi said recent data have clearly shown that there is a gap between the strength of export growth and that of industrial output growth.
“This indicates that domestic demand has managed to sustain its support on the overall economy fairly well.”
About 70 per cent of Malaysia’s manufacturing is still export-oriented, and thus, the economy needs stronger export growth to give it a boost.
“The recent trend in export growth where weakness is clearly the dominant theme is disconcerting, to say the least. Export...
Read More 580 ViewsJune 18, 2015 , by admin2
KUALA LUMPUR: The Government has decided to terminate investigations on the import of newsprint in rolls from Belgium, Germany, Sweden and the United Kingdom based on Section 26(1)(e) of the Countervailing and Anti-Dumping Duties Act 1993.
The International Trade and Industry Ministry said in a statement that the termination was in the interest of the public. — Bernama
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No announcement for today.