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OFFICIAL PORTAL OF THE
MINISTRY OF INVESTMENT, TRADE AND INDUSTRY
Home- About MITI
- Transforming Industry
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- Overview
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- Chairman Statement of the 33rd ASEAN Summit
- Chairman Statement of the 34th ASEAN Summit
- Chairman Statement of the 35th ASEAN Summit
- Chairman Statement of the 36th ASEAN Summit
- Chairman Statement of the 37th ASEAN Summit
- Chairman Statement of the 38th and 39th ASEAN Summit
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- ASEAN Publication
- ASEAN Agreement on Electronic Commerce
- APEC
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- Business Process Analysis for Asean Single Window
- Malaysia's Trade Performance 2024
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Glossary
International Payment Methods
Cash in Advance: Time of Payment : Before Shipment Goods Available to Buyer : After Payment Open Account Time of Payment : As agreed; e.g.: 30 days Goods ... [read more]
On-carriage
Domestic: subsequent transportation beyond main carriage International: transportation from the arrival pint on the buyer’s side [read more]
Invisible hand
Adam Smith's shorthand for the ability of the free market to allocate factors of production, goods and services to their most valuable use. If everybody acts from self-interest, spurred on by the profit motive, then ... [read more]
Invisible trade
Exports and imports of things you cannot touch or see: services, such as banking or advertising and other intangibles, such as copyrights. Invisible trade accounts for a growing slice of the value of world trade. [read more]
Keynesian
A branch of economics, based, often loosely, on the ideas of Keynes, characterised by a belief in active government and suspicion of market outcomes. It was dominant in the 30 years following the Second World War, and especially ... [read more]
Omni-modal
Used with terms that use all modes of transportation (truck, airplane, vessel, train) [read more]
Kleptocracy
Corrupt, thieving government, in which the politicians and bureaucrats in charge use the powers of the state to feather their own nests. [read more]
Labour Force
Refers to those who, during the reference week, are in the 15 - 64 years age group (in completed years at last birthday) and who are either employed or unemployed. [read more]
Oligopoly
When a few firms dominate a market. Often they can together behave as if they were a single monopoly, perhaps by forming a cartel. Or they may collude informally, by preferring gentle non-price competition to a bloody ... [read more]
Lead Shepard
The head of a working group under the Steering Committee on Economic and Technical Cooperation (SCE) of APEC, within some SCE fora this position is called Chair. This is to differentiate with Convenor, who is the Chair of a forum under the Committee ... [read more]
Leaders
Term used for heads of APEC member economies participating in the annual Informal Sessions of the APEC Economic Leaders’ Meetings (AELM). Terminology is in accordance with the common principle of APEC which refers to APEC participants as ... [read more]
Non-Tariff Barrier
Government law, regulation, policy, condition, restriction, or specific requirement, and private sector business practice or prohibition, that protects a domestic industry from foreign competition. [read more]
Less Than Full Reciprocity
Principle which requires developed countries to undertake higher reduction compared to developing countries. [read more]
Lipstick Effect
A theory that states that during periods of recession or economic downturn, consumers will eschew purchases of big-ticket luxury items and seek material solace in smaller indulgences, such as premium lipstick instead of fur coat. [read more]
Non-Ad Valorem Tariff (Non-AVE)
Non-ad valorem duty refers to either specific duties, compound duties or mixed duties. [read more]
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