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Malaysia's Trade in Services Performance
July 6, 2015 , by admin2
Total trade in services for the first quarter of 2009 amounted to RM45.2 billion, registering a slight decrease of 5.2% from that recorded in the first quarter of 2008.

In the same period, exports registered a slight increase to RM23.9 billion as compared with RM23.8 billion in Q1 2008. Imports however decreased to RM21.3 billion from RM23.9 billion in Q1 2008.Trade in services recorded a surplus of RM2.6 billion in Q1 2009.  

MALAYSIA – SERVICES EXPORTS* BY MAJOR COMPONENT, Q1 2005 – Q1 2009image

Notes: Other Services refer to communication, construction, insurance, financial, computer and information, professional and technical, personal and cultural, management and other business services rendered,royalties and license fees.  (*) excluding government transactions  In Q1 2009, travel was the largest contributor to exports of services, accounting for 51.9% of total exports, while ‘other services’ accounted for 33.1% and transportation 14.6%.

MALAYSIA – SERVICES IMPORTS*...

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Exports of Proton Cars
July 6, 2015 , by admin2
 

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Source: PROTON  Note: ‘Others’ include Saudi Arabia, Turkey, South Africa, Indonesia, Oman, Taiwan, Brunei, Cyprus, Bahrain and Singapore.

 

In 2008, the four leading export markets for Proton cars were Thailand (17.6% share), China(16.6%), Iran (12.5%) and Egypt (10.0%). These four countries accounted for 56.7% of the totalexport market for Proton cars in 2008.

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MAKING SENSE OF LIBERALISATION
July 6, 2015 , by admin2
Liberalisation means different things for different people, not only in application, but also its implications. In the context of economic development, liberalisation means the removal of restrictions in order to allow “a free flow of goods, services and people across border”. The argument for liberalisation in economic development is that freer flow of goods, services and people leads to greater efficiency, and efficiency leads to cost reduction and competitiveness. Competitiveness leads to increased sales/exports which contributes to a bigger economic pie or economic growth. Economic growth creates jobs. Factors that can impede the drive for efficiency or increase the cost of production include excessive taxes, import restrictions, poorly trained workforce, bureaucratic delays, licensing or restrictive licensing requirements. Owners of resources or ‘factors of production’, are usually seeking the best place to employ their resources so as to achieve maximum gain. In...
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MARKET DIVERSIFICATION AND NEW GROWTH AREAS
July 6, 2015 , by admin2
MITI and its agencies will intensify trade diversification efforts into non-traditional markets and promote investments in new growth areas including renewable energy industry, which are high value-added and technology-intensive. These include new trade and investment promotion strategies including to the new and emerging economies of Brazil, Russia, India and China. A total of 10 Trade and Investment Missions and 25 Specific Project Missions have been planned for 2009.
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UPDATES ON SERVICES SECTOR CAPACITY DEVELOPMENT FUND (SSCDF) AS AT 3rd JULY 2009
July 6, 2015 , by admin2
As of 3 July 2009, there were 102 applications for grants worth RM50.74 million received by MIDA. Of this total, 28 were from associations or professional bodies and 74 were from domestic service providers, two of which originated from Sarawak. The highest number of applications received was from the business and professional services sub-sector (30). Other sub-sectors which were actively applying for the SSCDF were the healthcare sub-sector with 17 applications, ICT sub-sector (14), the logistics sub-sector (12), the education sub-sector (8), the tourism sub-sector (2) and others sub-sector (19). To date, 31 applications have been approved with grants amounting to RM10.77 million. MIDF received 128 applications worth RM51.71 million for soft loans. The distributive trade sub-sector reported the highest number with 54 applications received, followed by the healthcare sub-sector (31), the business and professional services sub-sector (23), the logistics sub-sector (9), ICT...
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MALAYSIA's EFFORT ON STANDARDS
July 6, 2015 , by admin2
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...
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SOME NOTES ON FREE TRADE AGREEMENTS (FTAs)
July 6, 2015 , by admin2
Excerpts from YB Minister’s speech during MITI Dialogue 2009 MITI continues to negotiate FTAs to open markets for businesses. Malaysia has signed and implemented bilateral FTAs with Japan and Pakistan and recently concluded negotiations with New Zealand. Malaysia is also a party to five regional FTAs namely ASEAN-China, ASEAN-Korea, ASEAN-Japan, ASEAN-Australia-New Zealand and ASEAN-India. Currently, Malaysia is negotiating bilateral FTAs with the US, India, Chile and Australia, and the regional ASEAN-EU FTA. Malaysian companies should capitalise on the regional and bilateral FTAs to gain an edge over their competitors, particularly under these trying times. It should be worth noting that the number of certificates of origin issued by MITI to our exporters, under the preferential schemes of the five regional ASEAN FTAs and the ASEAN CEPT increased 13.0 per cent to 222,476 in 2008. The number of companies exporting under the various FTAs has also increased from 4,160 in 2007 to...
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Government’s Efforts in Business Facilitation
July 6, 2015 , by admin2
The Government will continue to address business related issues in an expeditious manner. The Government, through PEMUDAH, is currently implementing many new measures to further facilitate business in Malaysia, including: • establishment of the Kuala Lumpur Commercial Court by end 2009 to speed up resolution of commercial disputes; • implementation of MyCoID, a standardised identification number to be adopted for companies dealing with all Government agencies; • preparing a ‘Guidebook on Industrial Relations’ to provide guidelines on hiring and firing of workers; and • compiling an ‘Asset Search Directory’ that contains organisations and agencies that assist in identifying and tracing company assets to facilitate closing businesses. Malaysia’s reform initiatives have resulted in improvements in the public service delivery system. These improvements are reflected in the World Bank’s ‘Ease of Doing Business Index’ where Malaysia moved from 24th place in 2008...
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Figures on Textile and Apparel Industry
July 6, 2015 , by admin2
The petrochemical and chemical industry is the second largest contributor to our total exports. For the period of January to May 2009, exports of petroleum products amounted to RM997.4 million, while imports reached RM381.6 million. For the chemicals and chemical product sub-sector, imports and exports totaled RM12.7 billion and RM12.3 billion respectively. During the first five months of 2009, total investments in petroleum products (including petrochemicals) totalled RM1.1 billion, while that for chemical and chemical products amounted to RM1.5 billion. The pharmaceutical industry, which is mostly dominated by SMEs, saw an increasing demand trend in the domestic market. The pharmaceutical industry productivity in 2008 grew by 11.6 per cent, while sales value expanded by 11 per cent to RM1.4 billion in 2008. This increase is due to demand from the domestic market, arising from better health awareness and ageing population. Manufacturers must continue to expand and upgrade their...
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WOOD AND WOOD-BASED SUB-SECTOR
July 6, 2015 , by admin2
For the first five months of 2009, exports of the wood and wood-based sub-sector, encompasses both wood and paper products, fell 19.3 per cent to RM5.3 billion compared to the corresponding period last year. This was a result of dampened demand from Malaysia’s major export markets, such as the USA and Europe. To streamline and improve the efficiency of the timber sub-sector, the government launched the National Timber Policy (NATIP) on 17 February 2009. Among its objectives, NATIP serves to ensure that the industry continues to enhance its competitiveness in the global marketplace. The Government continues to promote higher value-added downstream activities through the provision of special funding and grants. These support facilities assist Malaysian companies in setting up and expanding infrastructure facilities, R&D, training and streamlining procedures to facilitate increased production. The Malaysian government has also embarked on several initiatives to enhance market...
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