MITI takes proactive action to shelter consumers and industries interests Malaysian consumers and industries can expect better quality and safety products with the implementation of mandatory standards. The implementation of mandatory standards will ensure that only products of acceptable quality are imported or produced locally. The mandatory standards will ensure that products meet safety, health, and environment requirements which are aligned to international standards. Mandatory standards requirement provides a competitive edge to Malaysian exporters in the global arena, while protecting the interests of consumers in the local market. As of 31 March 2009, a total of 5,588 Malaysian Standards have been developed, out of which 3,101 standards are aligned with international standards and 173 standards have been made mandatory. The sectors in mandatory standards are 3 for iron and steel, 57 for electrical equipment and accessories, 38 for food and food products including...

ASEAN-wide: 98.94 per cent of all products have been placed in the Inclusion List (IL) of the CEPT Scheme for AFTA. Of which 97.15 per cent are at 0-5 per cent. Average tariff in 2009 is 1.65 per cent (1.95 per cent in 2008). For ASEAN-6: 99.40 per cent of all their products are in the Inclusion List (IL), of which 99.71 per cent are at duty of 0-5 per cent. Average tariff is 0.79 per cent in 2008 (1.32 per cent in 2007). For CLMV: 98.31 per cent of all their products are in the IL, of which 93.15 per cent are at duty of 0-5 per cent. Average tariff is 3.00 per cent in 2009 (3.69 per cent in 2008).

The ASEAN-India Free Trade Agreement (AIFTA) came into effect on 1 January 2010 for Malaysia and India. It is a remarkable milestone towards a freer market environment, and an important agreement for Malaysia as India is emerging as an important trading partner as well as a market for Malaysian exports. This FTA creates a market of 1.7 billion people with combined GDP of US$2.8 trillion and combined global trade of over US$2 trillion. Under the AIFTA, ASEAN Member States and India have agreed to progressively reduce and eliminate duties on substantial number of products over a period of 3-8 years beginning 1 January 2010. The Philippines, Cambodia, Lao PDR, Myanmar and Viet Nam are given an additional 2-3 years to reduce and eliminate their duties under this FTA. Dato’ Sri Mustapa Mohamed says that Malaysia is committed to eliminate import duties on 6,792 products or tariff lines by 31December 2013, while duties on another 1,266 tariff lines would be eliminated by 31 December...

Despite bracing itself for a bumpy ride, the manufacturing sector managed to garner foreign investments worth RM22.1billion ( 67.8%) of approved investments, while the services sector’s main thrust was from domestic investments, RM32.9billion ( 90.6%) for 2009.Undeniably, this is primarily due to Malaysia’s liberal and transparent business policies, productive workforce and strong financial services. “Prudent banking policies have lent credibility and confidence to investors This coupled with the proactive launching of the second stimulus package of RM 60 billion have helped us weather the beatings of the harsh economic climate , Dato’ Sri Mustapa Mohamed feels.Approved investment projects in manufacturing recently have been more capital intensive in nature, reflecting the move toward high-technology, high value-added, skills and knowledge-based industries. Who is investing ? Japan , at the moment, is our largest foreign investor with an investment of RM7 billion....

Export numbers for December 2009 show a 9.2% rise to RM54.67 billion from the preceding month. With exports overall for the year having contracted only 16.6% compared to the earlier forecast of 20%, more green shoots are coming through. Recovery was led primarily by the recovery in the electrical and electronics sector which accounted for 41.2% of Malaysia’s total exports Where’s it all going? The top five destinations were Singapore, China, Japan, the US and Thailand making Asia the main destination. China’s share of Malaysia’s total exports almost doubled in the five year period to 2009. It was 12.2% as compared with 6.6% in 2005. If taken in combination with Hong Kong, China is now Malaysia’s largest export destination accounting for 17.4% of total exports. We forecast exports will grow by 3.5% this year as they continue along the path towards recovery. In the meantime we will strive to strengthen existing FTAs as well as negotiate and conclude ongoing...

Majlis MINI Showcase Groom Big ini adalah bertujuan untuk memberi pendedahan kepada orang ramai dan usahawan mengenai program Groom Big yang dilaksanakan oleh MITI dalam menggalakkan pembangunan usahawan yang berkualiti dan berdaya saing dalam sektor pembuatan dan perkhidmatan di peringkat domestic dan global. Program ini yang bermula sejak 2005 bagi industri makanan dan minuman telah memberikan banyak manfaat kepada usahawan tempatan. Sehingga Februari 2010, sebanyak 1,500 permohonan telah diterima dari seluruh negara dan daripada jumlah itu, 819 syarikat telah diberikan khidmat perundingan yang melibatkan 1,093 projek. Bagi industri kosmetik dan herba, seramai 70 usahawan telah diberikan khidmat perundingan, manakala seramai 15 usahawan dibangunkan dalam industry seramik dan kaca.

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...

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...

 

Media Statement by:

Dato’ Sri Mustapa Mohamed Minister of International Trade and Industry   Strong FDI Performance for the First Nine Months of 2011  

1.   Malaysia’s Foreign Direct Investment (FDI) for the first nine months of 2011 was recorded at RM26.4 billion compared with RM18.6 billion for the same period in 2010 indicating a 42 per cent growth. This is based on the latest figure released by the Department of Statistics, Malaysia (DOSM). For the record, total FDI for the whole of last year was RM29.3 billion, while in 2009, total FDI was RM5.0 billion.   2.   Based on the FDI flows for the first nine months, it is likely that this year’s total FDI will exceed last year’s figure.   3.   While the FDI inflows for Q1 and Q2 2011 were strong which stood at RM10.1 billion and RM11.07 billion respectively, the inflow of FDI in Q3 moderated to RM5.17 billion. This is partly due to weaker external economic conditions, especially in the Euro Zone and the...