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MITI's Portal
 

Glossary

Zero For X Tariff Reduction

Developed countries to undertake immediate elimination compared to developing countries. [read more]

Zeroing

An investigating authority usually calculates the dumping margin by getting the average of the differences between the export prices and the home market prices of the product in question. When it chooses to disregard or put a value of zero on ... [read more]

WTO Sectoral Initiatives

Tariff elimination for selected sectors, with the requirement of participation by members contributing 90 per cent of world trade. Developed members want key developing members such as China, India and Brazil to be part of sectoral initiatives. [read more]

WTO Ministerial Meeting

The WTO’s top decision-making body. Meeting of the full membership of the WTO once in two years. [read more]

Withholding tax

A tax that is collected at source, before the taxpayer has seen the income or capital to which the tax applies. In other words, that part of the income or capital due in tax is withheld from the taxpayer, who therefore cannot ... [read more]

Wafer Fabrication

Procedure composed of many repeated sequential processes to produce complete electrical or photonic circuits. [read more]

Vertical Approach

Approach to address NTBs based on specific sectors. For example harmonization of standard in lighter. [read more]

Value Chain

The process or activities by which a company adds value to an article, including production, marketing, and the provision of after-sales service. [read more]

Unregulated sectors

The working definition for unregulated services sector is services sectors that is not regulated by any act, regulations, government guidelines, government licensing requirement and are not supervised by any government agencies. [read more]

Unemployment rate

(Number of unemployed persons/ Number of persons in labour force) X 100 [read more]

Unemployed

Refers to both actively and inactively unemployed persons in the labour force. The actively unemployed include all persons who did not work during the reference week but were available for work and actively looking for work during the reference ... [read more]

Unbound Tariff

Tariff level of a product not notified to the WTO.  [read more]

Twin Deficit Hypothesis

The twin deposit hypothesis makes a connection between current account deficit and fiscal deficit. The theory suggests that tax cuts can increase fiscal deficit and results in increased consumption, which will lower the national savings rate. In ... [read more]

Twin deficits

A situation where an economy is running both a fiscal deficit and a deficit on the current account of the balance of payments (BOP). [read more]

Transparency

Trade policies, laws and regulations are publicly available and predictable. [read more]