seminar on asean economic community (aec) spreading … weekly... · 2017. 5. 30. · miti tower,...

MITI Tower, No. 7, Jalan Sultan Haji Ahmad Shah, 50480 Kuala Lumpur, Malaysia Tel: +603 - 8000 8000 Fax: +603 - 6202 9446

MITI Weekly Bulletin | www.miti.gov.my

MEDIA RELEASE

Ministry of International Trade and Industry, Malaysia

SEMINAR ON ASEAN ECONOMIC COMMUNITY (AEC)Spreading Your Wings in ASEAN: Land of Opportunities

The year 2017 started with a high prospect for ASEAN. After eight years of preparation, ASEAN leaders launched the ambitious ASEAN Economic Community (AEC) in 2015, a blueprint aimed at creating a single, seamless production base and consumer market. The work however does not stop there, with ASEAN developing a 10 year plan; the AEC Blueprint 2025 as a continuous effort and commitment to further deepen the economic integration.

This year also marks the 50th anniversary of the ASEAN carrying the theme of “Partnering for Change, Engaging the World.” Since its establishment, ASEAN has evolved into one of the world’s most dynamic regions with accelerated economic performance in recent years. That has been attributable to ASEAN’s economic co-operation and integration initiatives taking concrete shape over the past two decades. The economic development of ASEAN, which now has a population of 630 million people, has grown rapidly registered a strong pace of Gross Domestic Product (GDP) at 4.7% in 2016. For 2017, GDP growth rate is projected at 4.8% respectively. With a record of US$2.55 trillion GDP in 2016, ASEAN is the third largest economy in Asia and the sixth largest economy in the world. ASEAN aspires to becoming the fourth largest economy in the world by 2030. The AEC has not only provided a sound basis for ASEAN rapid growth but also creating opportunities and diversities.

Despite the promising growth and liberalisation of tariffs among the ASEAN Member States, intra-trade ASEAN remains stagnant at around 20 – 25%. The major impediment in achieving higher intra-trade is behind the border measures or non-tariff measures/barriers (NTMs/NTBs) within ASEAN. YAB Dato' Sri Mohd Najib bin Tun Abdul Razak, Prime Minister of Malaysia at the 30th ASEAN Summit cited that to achieve the US$9.2 trillion GDP by 2050, there has to be a 20% reduction in fixed trade costs. In this regard, ASEAN is currently working towards implementing various trade facilitative measures, such as national single windows seamlessly linked to the ASEAN Single Window as well as harmonisation of standards and customs procedures. In addition, Malaysia is taking the lead the other ASEAN Member States in identifying appropriate mechanism to address the NTMs/NTBs issue in ASEAN with a view to reduce and subsequently eliminate all barriers to trade.

To further enhance the growth in this region, at the recent RCEP Intersessional Ministerial Meeting held from 21-22 May 2017 in Hanoi, Viet Nam, ASEAN and its Dialogue Partners made commitment to work towards substantial completion of RCEP negotiation by end of this year. The RCEP when concluded would create one of the world's largest free-trade areas. The RCEP countries make up close to 50% of the global population, about 30% of the global GDP and 29% of global trade.With all these development, Malaysian entrepreneurs indeed stand to gain more opportunities and greater market access abroad.

BENEFITS OF AEC FOR MALAYSIA To commemorate the golden celebration of ASEAN@50 this year, MITI as Malaysia’s national coordinator for the economic pillar, will also be organising various

programmes and activities. Today’s seminar on AEC among many, serves as another platform for MITI to showcase and provide a solid testimonial to Malaysians at large, the benefits as well as opportunities drawn from the ASEAN regional integration. Seminar aims at raising awareness about the opportunities in ASEAN under the AEC. Taking into account limited presence of Malaysian entrepreneurs abroad, the Seminar was exclusively designed to inspire Malaysian entrepreneurs, especially among the Micro, Small and Medium Enterprises (MSMEs), to explore and expand their businesses into the ASEAN market. In this aspect, three identified speakers (Malaysian entrepreneurs based in ASEAN or doing business with ASEAN) were brought to the seminar to share first-hand information as living testimonials to the audience. The three speakers presented their case at length and highlighted their personal experience, particularly on expectations, domestic regulations and in addition, socio-cultural details to observe, gained throughout their years of business involvement in ASEAN.

The speakers were invited based on their successful ventures in ASEAN.

(i) Speaker 1: Ms. Rina Neoh (based in Singapore) Founding Partner of Mercatus Capital(ii) Speaker 2: YM Ungku Raad Azeraai (based in Manila) Founding Partner Naah!im Bakery(iii) Speaker 3: Arvin Menon (based in Selangor) Managing Director, VG Offshore Containers International

Minister of International Trade and Industry, Dato’ Sri Mustapa Mohamed said, “ASEAN offers vast opportunities to be explored by the Malaysian business community and entrepreneurs. Our companies are big in ASEAN, but in line with our efforts to foster closer economic integration within the region, we need more SMEs to venture out into other ASEAN markets. This is to ensure that the benefits from an economically integrated ASEAN are more inclusive”.

Under the following theme, “Spreading Your Wings in ASEAN: Land of Opportunities”, the composition of audience was made up of mostly MSMEs, representatives from the Malaysian Association of ASEAN Young Entrepreneurs Association (MAAYE) and students from related fields.



MALAYSIA

Balance of Payments (BOP)

Current Account BalanceRM5.3 bil

RM25.3 billion

Goods-RM6.2 billion

Services-RM13.8billion

Income

Financial AccountRM8.8 bil (net outflow)

Direct Investment RM3.8 bPortfolio Investment -RM3.1 b

Financial Derivatives RM0.6 bOther Investment RM14.2 b

Q1 2017

Reserve AssetsRM1.8 bil

10.9

8.2

5.2

10.8

6.2

3.1

7.3

12.5

5.3

0

5

10

15

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

2015 2016 2017

RM billion Current Account

-29.2

0.4

-33.2

6.6 7.811.1

-5.8

-14.2-8.8

-40

-20

0

20

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

RM billion Financial Account

15.7

-8.4

-17.0

6.0

27.6

-8.8-14.6

-19.0

1.8

-40

-20

0

20

40

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

RM billion Reserve Assets

BOP Performance, Q1 2015-Q1 2017

FDI & DIA Performance

RM17.0bForeign Direct Investment

(FDI) in Malaysia

RM8.7bDirect Investment

Abroad(DIA)

2015 2016 2017

2015 2016 2017

Source : Department of Statistics, Malaysia



Trade in Services, Q1 2017


RM36.4b

1.1%

RM42.6b

2.2% Total Trade RM79.1b

1.7%

Exports Services, Q1 2017

Imports Services, Q1 2017

Telecommunications, computer and information services

Travel

Other business services

RM18.1b

RM6.0b

RM4.4bTransport RM2.6b

RM2.9b Others*

ExportsRM36.4 bil.

Manufacturing services on physical inputs owned by others

RM2.5b

Note: * include Construction, Maintenance and repair services, Insurance and pension services, Financial services, Charges for the use of intellectual property, Personal, cultural and recreational services and Government goods and services

Travel

Other business services

RM11.8b

RM10.5b

RM7.4b

Transport

RM3.7b

RM6.5b Others*

Construction

ImportsRM42.6 bil.

RM2.9b

Telecommunications, computer and information services

Note: * include Maintenance and repair services, Insurance and pension services, Financial services, Manufacturing services on physical inputs owned by others Charges for the use of intellectual property, Personal, cultural and recreational services and Government goods and services

Note: % -Y-o-Y Growth



Selected Statistics Population Migration2015-2016

Internal Migration

Reasons for Migration




Malaysia’s GDP Growth Rate Exceeds CPI and Global Growth Rate

RM billionMaintain its Target Toward Fiscal Balance

Government Less Dependent on Oil RevenueRM million

Since 2009, among all income stratas, the B40 have experienced the greatest increase in CAGR Growth

Selected NTP’s Performance Report 2016

Source:https://www.pemandu.gov.my/...reports



BrazilInternational Report

Population: 206.1 millionLand area : 8,511,965 sq km

Brazil Key Economy, 2016GDP (current US$) : US$1,798.6 billionInflation rate : 8.7%Unemployment rate : 11.3%Global trade : US$328.8bil (Rank: 27)Global exports : US$185.3bil (Rank: 25)Global imports : US$143.5bil (Rank:28)

Top Five Trading Partners, 2016

1.4 1.8

2.3 2.8

2.2 2.7

3.4 3.4 3.8

3.2 3.1 2.9

1.0

2.0 2.5

3.3 3.5 3.3 3.9

5.4 5.6 5.7 5.9 6.8

8.5

2.6

3.4

4.4

5.5 6.3

5.5

6.6

8.8 8.9 9.5 9.2

9.9

11.4

0

2

4

6

8

10

12

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017(Jan-Mar)

RM Billion

Exports Imports Total Trade

Malaysia’s Trade with Brazil, 2005 - March 2017

Exports:US$35.1 bil.Imports:US$23.4 bil.

PRC

1 2 3

4 5

Exports:US$23.3bil.Imports:US$24.1 bil.

USA


GermanyExports:US$10.3bil.Imports:US$1.8bil.

Netherlands


Argentina

Source: IMF, Worldatlas, WTO

Major Exports , 2015/2016HS

Code Product2015

RM mil.2016

RM mil.Change

(%)76 Aluminium and articles 14.0 72.6 420.1

15 Animal or vegetable fats and oils 196.8 251.3 27.7

40 Rubber and articles thereof 653.1 700.9 7.3

29 Organic chemicals 70.1 115.9 65.3

38 Miscellaneous chemical products 154.3 187.5 21.5

Major Imports , 2015/2016HS

Code Product2015

RM mil.2016

RM mil.Change

(%)26 Ores, slag, ash 2,284.4 2,933.7 28.4

17 Sugars and sugar confectionery 1,493.9 2,626.9 75.8

10 Cereals 1,370.7 1,152.1 -15.9

52 Cotton, yarn and fabric 165.3 278.3 68.4

27 Mineral fuel, oil, etc 206.1 205.3 -0.4Source : Department of Statistics, Malaysia

https://www.pemandu.gov.

my/...reports



Note: * Provisional data Source: Ministry of International Trade and Industry, Malaysia

0

20

40

60

80

100

120

140

160

180

200

0

5

10

15

20

25

30

35

40

45

50

5 M

ar

12 M

ar

19 M

ar

26 M

ar

2 A

pr

9 A

pr

16 A

pr

23 A

pr

30 A

pr

7 M

ay

14 M

ay

21 M

ay

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

Generalised System of Preferences (GSP)

Total FOB (RM mil.) Total CO

Note: The preference giving countries under the GSP scheme are Liechtenstein, the Russian Federation, Japan, Switzerland, Belarus, Kazakhstan and Norway.

Number and Value of Preferential Certificates of Origin (PCOs)

0

1,000

2,000

3,000

4,000

5,000

6,000

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,0005

Mar

12 M

ar

19 M

ar

26 M

ar

2 A

pr

9 A

pr

16 A

pr

23 A

pr

30 A

pr

7 M

ay

14 M

ay

21 M

ay

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

ASEAN Trade in Goods Agreement (ATIGA)


0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

0

200

400

600

800

1,000

1,200

1,400

5 M

ar

12 M

ar

19 M

ar

26 M

ar

2 A

pr

9 A

pr

16 A

pr

23 A

pr

30 A

pr

7 M

ay

14 M

ay

21 M

ay

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

ASEAN-China Free Trade Agreement (ACFTA)


0

200

400

600

800

1,000

1,200

0

100

200

300

400

500

600

5 M

ar

12 M

ar

19 M

ar

26 M

ar

2 A

pr

9 A

pr

16 A

pr

23 A

pr

30 A

pr

7 M

ay

14 M

ay

21 M

ay

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

ASEAN-Korea Free Trade Agreement (AKFTA)


0

50

100

150

200

250

300

0

20

40

60

80

100

120

140

160

5 M

ar

12 M

ar

19 M

ar

26 M

ar

2 A

pr

9 A

pr

16 A

pr

23 A

pr

30 A

pr

7 M

ay

14 M

ay

21 M

ay

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

ASEAN-Japan Comprehensive Economic Partnership (AJCEP)


0

100

200

300

400

500

600

700

800

0

50

100

150

200

250

300

350

5 M

ar

12 M

ar

19 M

ar

26 M

ar

2 A

pr

9 A

pr

16 A

pr

23 A

pr

30 A

pr

7 M

ay

14 M

ay

21 M

ay

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

ASEAN-India Free Trade Agreement (AIFTA)


0

200

400

600

800

1,000

1,200

0

20

40

60

80

100

120

140

5 M

ar

12 M

ar

19 M

ar

26 M

ar

2 A

pr

9 A

pr

16 A

pr

23 A

pr

30 A

pr

7 M

ay

14 M

ay

21 M

ay

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA)




Note: * Provisional data Source: Ministry of International Trade and Industry, Malaysia

Number and Value of Preferential Certificates of Origin (PCOs)

0

100

200

300

400

500

600

700

800

900

1,000

0

100

200

300

400

500

600

700

800

9005

Mar

12 M

ar

19 M

ar

26 M

ar

2 A

pr

9 A

pr

16 A

pr

23 A

pr

30 A

pr

7 M

ay

14 M

ay

21 M

ay

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

Malaysia-Japan Economic Partnership (MJEPA)


0

50

100

150

200

250

0

20

40

60

80

100

120

140

5 M

ar

12 M

ar

19 M

ar

26 M

ar

2 A

pr

9 A

pr

16 A

pr

23 A

pr

30 A

pr

7 M

ay

14 M

ay

21 M

ay

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

Malaysia-Pakistan Closer Economic Partnership (MPCEPA)


0

2

4

6

8

10

12

14

16

0.0

0.1

0.2

0.3

0.4

0.5

0.6

0.7

0.8

5 M

ar

12 M

ar

19 M

ar

26 M

ar

2 A

pr

9 A

pr

16 A

pr

23 A

pr

30 A

pr

7 M

ay

14 M

ay

21 M

ay

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

Malaysia-New Zealand Free Trade Agreement (MNZFTA)


0

10

20

30

40

50

60

70

80

90

100

0

2

4

6

8

10

12

14

16

5 M

ar

12 M

ar

19 M

ar

26 M

ar

2 A

pr

9 A

pr

16 A

pr

23 A

pr

30 A

pr

7 M

ay

14 M

ay

21 M

ay

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

Malaysia-China Free Trade Agreement (MCFTA)


0

50

100

150

200

250

300

350

400

450

500

0

50

100

150

200

250

5 M

ar

12 M

ar

19 M

ar

26 M

ar

2 A

pr

9 A

pr

16 A

pr

23 A

pr

30 A

pr

7 M

ay

14 M

ay

21 M

ay

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

Malaysia-India Comprehensive Economic Cooperation Agreement (MICECA)


0

100

200

300

400

500

600

0

10

20

30

40

50

60

70

5 M

ar

12 M

ar

19 M

ar

26 M

ar

2 A

pr

9 A

pr

16 A

pr

23 A

pr

30 A

pr

7 M

ay

14 M

ay

21 M

ay

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

Malaysia-Australia Free Trade Agreement (MAFTA)


0

50

100

150

200

250

300

350

0

50

100

150

200

250

300

350

400

5 M

ar

12 M

ar

19 M

ar

26 M

ar

2 A

pr

9 A

pr

16 A

pr

23 A

pr

30 A

pr

7 M

ay

14 M

ay

21 M

ay

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

Malaysia-Turkey Free Trade Agreement (MTFTA)




Source : Bank Negara, Malaysia

Malaysian Ringgit Exchange Rate with Selected Countries,January 2016 - April 2017

US Dollar

Pakistani Rupee

Egyptian Pound

Cambodian Riel

Nepalese Rupee

United Arab Emirates Dirham

4.34814.4072

3.60

3.70

3.80

3.90

4.00

4.10

4.20

4.30

4.40

4.50

4.60

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr

2016 2017

RM

USD 1 = RM

4.14604.2060

3.40

3.50

3.60

3.70

3.80

3.90

4.00

4.10

4.20

4.30


2016 2017

RM

PKR 100 = RM

0.5553

0.2436

0.00

0.10

0.20

0.30

0.40

0.50

0.60


2016 2017

RM

EGP 1 = RM

0.1071

0.1098

0.085

0.090

0.095

0.100

0.105

0.110

0.115


2016 2017

RM

KHR 100 = RM

4.0376

4.2657

3.30

3.40

3.50

3.60

3.70

3.80

3.90

4.00

4.10

4.20

4.30

4.40


2016 2017

RM

NPR 100 = RM

118.38119.99

95.00

100.00

105.00

110.00

115.00

120.00

125.00


2016 2017

RM

AED 100 = RM



Sources: Ministry of International Trade and Industry Malaysia, Malaysian Palm Oil Board, Malaysian Rubber Board, Malaysian Cocoa Board, Malaysian Iron and Steel Industry Federation, Bloomberg and Czarnikow Group.

Commodity Prices

Notes: All figures have been rounded to the nearest decimal point * Refer to % change from the previous week’s price i Average price in the year except otherwise indicated

CRUDE PETROLEUM (BRENT)-per bbl-

26 May 2017 : US$52.2, 2.7%*

Average Pricei : 2016: US$45.3 2015: US$53.6

CRUDE PALM OIL-per MT-

26 May 2017 : US$749.5, 1.1%*Average Pricei : 2016: US$702.2 2015: US$616.9

RUBBER SMR 20-per MT-

26 May 2017 : US$1,559.0, 0.1%*

Average Pricei : 2016: US$1.394.5 2015: US$1.364.3

COAL -per MT-26 May 2017 : US$44.1, unchangedAverage Pricei : 2016: US$45.6 2015: US$49.9

COCOA SMC 2-per MT-

26 May 2017 : US$1,274.1, 7.3%*

Average Pricei : 2016: US$1,609.8 2015: US$2,077.0

SCRAP IRON HMS-per MT-

26 May 2017 : US$280.0 (high), unchanged US$260.0 (low), unchangedAverage Pricei : 2016: US$243.2 2015: US$239.6

HIGHEST and LOWEST 2016/2017

Highest 6 Jan 2017 : US$57.1 30 Dec 2016 : US$56.8

Lowest

5 May 2017 : US$49.1

15 Jan 2016 : US$28.9

Crude Petroleum

(Brent)-per bbl-

Highest 20 Jan 2017 : US$843.0 30 Dec 2016 : US$797.5

Lowest

15 Jan 2016 : US$545.5 28 Apr 2017 : US$673.0

Crude Palm Oil -per MT-

Domestic Prices26 May 2017

Steel Bars(per MT)

RM1,930 – RM2,080

Billets(per MT)

RM1,800 – RM1,900

SUGAR -per lbs-26 May 2017 : US¢ 15.1, 8.1%*

Average Pricei : 2016: US¢18.2 2015: US¢13.2



Data for April not available Ministers attending the recent APEC MRT 2017

Commodity Price Trends

Sources: Ministry of International Trade and Industry Malaysia, Malaysian Palm Oil Board, Malaysian Rubber Board, Malaysian Cocoa Board, Malaysian Pepper Board, Bloomberg and Czarnikow Group, World Bank, World Gold Council, The Wall Street Journal.

746.0739.0

746.0

725.0

691.0 693.0

715.0

673.0

688.8

711.5

741.0

749.5

600

620

640

660

680

700

720

740

760

10 Mar 17 Mar 24 Mar 31 Mar 7 Apr 13 Apr 21 Apr 28 Apr 5 May 12 May 19 May 26 May

US$

/mt

Crude Palm Oil

1,385.3

1,474.6

1,568.8

1,491.0

1,532.4

1,424.2

1,262.8

1,299.61,268.3

1,368.4 1,374.5

1,274.1

1,200

1,250

1,300

1,350

1,400

1,450

1,500

1,550

1,600


US$

/mt

Cocoa

18.018.2

17.7

16.8 16.816.6 16.5

16.1

15.315.5

16.4

15.1

14.0

14.5

15.0

15.5

16.0

16.5

17.0

17.5

18.0

18.5


US¢

/lbs

Sugar

2,010.02,033.5

1,902.0

1,834.5

1,756.0

1,627.51,598.5 1,589.0

1,487.5 1,487.5

1,558.0

1,559.0

1,400

1,500

1,600

1,700

1,800

1,900

2,000

2,100


US$

/mt

Rubber SMR 20

6,900 7,088 7,113

7,281

6,917 6,851 6,730

6,337

6,085 5,965

4,516

3,984

4,366

4,605

4,188

4,565

3,000

3,500

4,000

4,500

5,000

5,500

6,000

6,500

7,000

7,500

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May

2016 2017

USD

/ to

nne

Black Pepper

* until 26 May 2017



Sources: Ministry of International Trade and Industry Malaysia, , Malaysian Iron and Steel Industry Federation, Bloomberg and Czarnikow Group, World Bank, World Gold Council, The Wall Street Journal.

44.1 44.1 44.1 44.1 44.1 44.1 44.1 44.1 44.1 44.1 44.1 44.1

43.5

43.6

43.7

43.8

43.9

44.0

44.1

44.2


US$

/mt

Coal

1,481

1,531

1,531

1,571 1,551

1,594

1,629 1,639

1,592

1,666

1,737 1,728

1,791

1,861

1,901 1,921

1,400

1,500

1,600

1,700

1,800

1,900

2,000


2016 2017

US$

/ to

nne

Aluminium

4,472 4,599

4,954 4,873

4,695 4,642

4,865 4,752 4,722

4,731

5,451

5,660 5,755

5,941 5,825

5,684

4,000

4,500

5,000

5,500

6,000

6,500


2016 2017

US$

/ to

nne

Copper

8,507 8,299

8,717 8,879

8,660

8,928

10,263

10,336

10,192

10,260

11,129 10,972

9,971

10,643

10,205

9,609

7,000

7,500

8,000

8,500

9,000

9,500

10,000

10,500

11,000

11,500


2016 2017

US$

/ to

nne

Nickel

48.5 48.848.0

50.6

52.2

53.2

49.6 49.3

46.2

47.8

50.349.8

51.451.8

50.8

52.8

55.255.9

52.0 51.7

49.1

50.8

53.6

52.2

40

42

44

46

48

50

52

54

56

58


US$

/bbl

Crude Petroleum

Crude Petroleum (WTI)/bbl Crude Petroleum (Brent)/bbl




Sources: Ministry of International Trade and Industry Malaysia, Malaysian Iron and Steel Industry Federation, Bloomberg and Czarnikow Group, World Bank.

944.0

954.0

967.0

942.0

969.0

977.0981.0

948.0

911.0

925.0

946.0

964.0

860.0

880.0

900.0

920.0

940.0

960.0

980.0

1,000.0


US$

/oz

Platinum

310.0

320.0

330.0 330.0

300.0 300.0

295.0

290.0

280.0 280.0 280.0 280.0290.0

310.0 310.0 310.0

290.0 290.0

275.0

280.0

270.0 270.0 270.0

260.0

250

260

270

280

290

300

310

320

330

340

3 Mar 13 Mar 17 Mar 24 Mar 31 Mar 14 Apr 21 Apr 28 Apr 5 May 12 May 19 May 26 May

US$

/mt

Scrap Iron

Scrap Iron/MT (High) Scrap Iron/MT(Low)

41.88

46.83

56.20

60.92

55.1351.98

57.26

60.8957.79 59.09

73.10

80.02

80.41

89.4487.65

70.22

30.0

40.0

50.0

60.0

70.0

80.0

90.0

100.0


2016 2017

US$

/dm

tu

Iron Ore

17.1

17.3

17.6

18.218.4

18.6

17.9

17.3

16.316.5

16.9

17.3

15.0

15.5

16.0

16.5

17.0

17.5

18.0

18.5

19.0


US$

/oz

Silver

38.7

39.5

40.1 40.0

40.7

41.3 41.2

40.7

39.5 39.6

40.3

40.7

37.0

37.5

38.0

38.5

39.0

39.5

40.0

40.5

41.0

41.5

42.0


US$

/oz

Gold




Roundtable Discussion with 50 Singaporean and Singapore-based Companies, 25 May 2017

MITI Programme



MITI Programme

18 May 2017,

26 May 2017



SEMINAR ON ASEAN ECONOMIC COMMUNITY (AEC), 26 May 2017MITI Programme



Announcement

Sila layari http://tube.smecorp.gov.my/ untuk membuat permohonan.



Of Technical Terms

Blue BoxBlue Box refers to production limiting subsidies and considered therefore less trade-distorting. They are exempt from the reduction commitments under the WTO Agreement on Agriculture. Examples of Blue Box include certain payments to farmers where the farmers are required to limit production, government assistance programmes to promote agriculture and rural development in developing countries.Also referred to as the “amber box with conditions” — conditions designed to reduce distortion. Any support that would normally be in the amber box, is placed in the blue box if the support also requires farmers to limit production.At present there are no limits on spending on blue box subsidies. In the current negotiations, some countries want to keep the blue box as it is because they see it as a crucial means of moving away from distorting amber box subsidies without causing too much hardship. Others wanted to set limits or reduction commitments, some advocating moving these supports into the amber box.

Bonded WarehouseDesignated area, approved by the Royal Malaysian Customs (RMC) under Section 65 of the Customs Act 1967, for storing dutiable goods.A country can change its bindings, but only after negotiating with its trading partners, which could mean compensating them for loss of trade.

Bound TariffThe maximum tariff level of a product notified to the WTO which a country commits not to exceed. If the bound duty is raised, compensation must be given to the affected parties.

Budget DeficitAlso known as Fiscal deficitOccurs when the government annual amount of spending exceeds income from taxation.When a country is running a fiscal deficit it must finance this by borrowing through the issue (sale) of new debt.A government will normally borrow money by issuing bonds or other securities and the interest rate on this debt will depend on the willingness of lenders to offer credit, the expected rate of inflation and the risk of whole partial default.The Government of a country with low or worsening credit ratings may need to negotiate loans from institutions such as the World Bank, The International Monetary Fund, Sovereign wealth funds or other governments/Overseas banks.

Budget SurplusA situation in which income exceeds expenditures.Most commonly used to refer to the financial situations of governments - individuals speak of “savings” rather than a “budget surplus.”A surplus is considered a sign that government is being run efficiently.



MITI Weekly BulletinConveys Our deepest condolences

to the victims and their familieson the attack in

Manchester, Jakarta & Philippines

Appalled by the barbaric and cowardly attack on innocent concert-goers in Manchester. My deepest condolences and prayers are with the families and friends of those affected. At this time of heartbreak, Malaysia stands united with Britain. We must be firm, determined and ready to confront terror swiftly and decisively wherever and whenever it manifests itself. We must never surrender.

Dato' Sri Haji Mohammad Najib bin Tun Haji Abdul RazakPrime Minister of Malaysia

I am disgusted by last night’s attack in Jakarta. Malaysians stand with the Indonesian people at this time. Coming so soon after the appalling Manchester bombing, this new outrage shows that terrorism has no borders, and knows no race or creed. My thoughts and prayers are with the loved ones of those affected.

Malaysia condemns the attack on Marawi City by groups linked to Daesh that led to casualties of government forces and displacement of civilians. I have full confidence in the Philippines’ handling of the crisis and we will offer our full support. The crisis must not derail the ongoing Mindanao peace process.

Condolences

21 May 2017

24 May 2017

25 May 2017



Dear Readers,

Kindly click the link below for any comments in this issue. MWB reserves the right to edit and republish letters as reprints. http://www.miti.gov.my/index.php/forms/form/13

MITI Weekly Bulletin Editorial Committee

Wishes Happy Kaamatan &

Gawai Harvest Festival 2017

MITI @ Your ServiceIntegrity Unit

Email: [email protected] Norazilawati RohanuddinPrincipal Assistant Director

Rozi RahmanInvestigation Officer

Nooradila Abdul HadiAssistant IT Officer

Rodziah Mohd RadziAdministrative Assistant

seminar on asean economic community (aec) spreading … weekly... · 2017. 5. 30. · miti tower,...

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