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MITI's Portal





Import Duty

A tariff on import [read more]


Refer to goods brought into the country, either directly or into bonded warehouses, irrespective of whether such goods are for consumption, to be processed, used in manufacturing or subsequent re-exports to other countries. The value of imports ... [read more]


Individual Action Plan - An action plan developed and implemented by each APEC member economy to outline activities related to realizing Bogor goals of free and open trade and investment in the region. Each IAP contains 15 chapters on different ... [read more]

Inclusion List (IL)

A list which stipulates the products which are offered preferential import duties. [read more]


Rising prices, across the board. The purchasing power of a unit of currency falls as a result of inflation. For example, if the inflation rate is 2%, then a pack of gum that costs RM1 in a given year will cost RM1.02 the next year. Inflation ... [read more]


Industrialised Building System - A technique of construction whereby components are manufactured in a controlled environment - either onsite or offsite - placed and assembled into construction works. [read more]


Internal Compliance Program - A set of internal controls and procedures implemented voluntarily by a company that ensures transactions satisfy the requirements under STA 2010. An ICP is a prerequisite for companies that wish to avail themselves of ... [read more]


International Monetary Fund - referee and, when the need arises, rescuer of the world's FINANCIAL SYSTEM. The IMF was set up in 1944 at BRETTON WOODS, along with the WORLD BANK, to supervise the newly established ... [read more]

International Commercial Terms (Incoterms)

Initially created in 1936 by the International Chamber of Commerce (ICC) and have been periodically revised (Incoterms® 2010 is the 8th revision). Incoterms® reflect world-wide trade practices, as practices change, Incoterms® are revised [read more]


Industrial Linkage Programmes - is implemented to integrate local SMIs into the mainstream industrial sector to forge stronger industry linkages. [read more]


Industrial Production Index - The industrial production index measures the change in output in Malaysian manufacturing, mining, construction, and electricity, gas and water. Output refers to the physical quantity of goods produced, unlike sales ... [read more]


Internet of Things - System of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers and the ability to transfer data over a network without requiring human-to-human or ... [read more]


Information Technology Agreement - Tariff liberalization arrangement negotiated in the WTO on elimination of import duties on IT products. [read more]

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]

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]