Labour Productivity Weekly Bulletin/MITI_Weekly... · MITI Tower, No. 7, Jalan Sultan Hai Ahmad...

14
1 MITI Tower, No. 7, Jalan Sultan Haji Ahmad Shah, 50480 Kuala Lumpur, Malaysia Tel: +603 - 8000 8000 Fax: +603 - 6202 9446 Source: Department of Statistics, Malaysia Labour Productivity Highest Productivity Growth Malaysia’s Labour Productivity grew 3.0% in Q1 2018 Mining & Quarrying recorded the highest labour productivity growth followed by Services and Manufacturing YoY:8.3% RM1,100,774 YoY:4.6% RM72,145 YoY:3.3% RM108,670

Transcript of Labour Productivity Weekly Bulletin/MITI_Weekly... · MITI Tower, No. 7, Jalan Sultan Hai Ahmad...

Page 1: Labour Productivity Weekly Bulletin/MITI_Weekly... · MITI Tower, No. 7, Jalan Sultan Hai Ahmad Shah, 50480 Kuala Lumpur, Malaysia Tel: +603 - 8000 8000 Fax: +603 - 6202 9446 1 Source:

1MITI Tower, No. 7, Jalan Sultan Haji Ahmad Shah, 50480 Kuala Lumpur, Malaysia Tel: +603 - 8000 8000 Fax: +603 - 6202 9446

Source: Department of Statistics, Malaysia

Labour Productivity

Highest Productivity Growth

Malaysia’s Labour Productivity grew 3.0% in Q1 2018

Mining & Quarrying recorded the highest labour productivity growth followed by Services and Manufacturing

YoY:8.3%RM1,100,774

YoY:4.6%RM72,145

YoY:3.3%RM108,670

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2MITI 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

Source: Department of Statistics, Malaysia

Consumer Price Index (CPI) , April 2018

CPI increased by 1.4% in April 2018

+7.7%

April 2018120.9 April 2017

119.2

Notes: % refers to year-on-year change

12 Main Groups April 2018 / April 2017

April 2018 / April 2017 Mac 2018 / Mac 2017

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3MITI Tower, No. 7, Jalan Sultan Haji Ahmad Shah, 50480 Kuala Lumpur, Malaysia Tel: +603 - 8000 8000 Fax: +603 - 6202 9446

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International Report

Malaysia Singapore Hong Kong Japan USA

Malaysia was the Largest Exporter of Parts of Electronic Integrated Circuits* in 2017

Malaysia's Top Five Destinations forParts of Electronic Integrated Circuits* in 2017

NetherlandsUSD 0.2 Billion

01 02 03 04 05

US$ 3.1Billion26.3 %

US$1,024.9million

32.9 %

US$540.2million

17.4%

US$376.6million

12.1%

US$328.8million

10.6%

US$244.6million

7.9%

NOTE: % - Share in world exports

NOTE: % - Share in world exports

US$ 2.0Billion16.5 %

US$ 1.7Billion14.6%

US$ 1.7Billion14.3 %

US$ 1.2Billion

9.8%

01 02 03 04 05

Singapore China Hong Kong Korea, Republic of Thailand

* Refers to HS 854290

Source:http://www.trademap.org/Index.aspx

01 02 03 04 05

01 04

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MITI Weekly Bulletin | www.miti.gov.my

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

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

20

40

60

80

100

120

140

160

180

0

5

10

15

20

25

30

35

40

4 M

ar

11 M

ar

18 m

ar

25 M

ar

1 A

pr

8 A

pr

15 A

pr

22 A

pr

29 A

pr

6 M

ay

13 M

ay

20 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

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,0004

Mar

11 M

ar

18 m

ar

25 M

ar

1 A

pr

8 A

pr

15 A

pr

22 A

pr

29 A

pr

6 M

ay

13 M

ay

20 M

ay

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

ASEAN Trade in Goods Agreement (ATIGA)

Total FOB (RM mil.) Total CO

0

500

1,000

1,500

2,000

2,500

3,000

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

4 M

ar

11 M

ar

18 m

ar

25 M

ar

1 A

pr

8 A

pr

15 A

pr

22 A

pr

29 A

pr

6 M

ay

13 M

ay

20 M

ay

No.

of C

ertif

icat

e of

Orig

in

RM m

il.

ASEAN-China Free Trade Agreement (ACFTA)

Total FOB (RM mil.) Total CO

0

200

400

600

800

1,000

1,200

1,400

1,600

0

500

1,000

1,500

2,000

2,500

4 M

ar

11 M

ar

18 m

ar

25 M

ar

1 A

pr

8 A

pr

15 A

pr

22 A

pr

29 A

pr

6 M

ay

13 M

ay

20 M

ay

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

ASEAN-Korea Free Trade Agreement (AKFTA)

Total FOB (RM mil.) Total CO

0

50

100

150

200

250

300

0

20

40

60

80

100

120

140

160

4 M

ar

11 M

ar

18 m

ar

25 M

ar

1 A

pr

8 A

pr

15 A

pr

22 A

pr

29 A

pr

6 M

ay

13 M

ay

20 M

ay

No.

of C

ertif

icat

e of

Orig

in

RM m

il.

ASEAN-Japan Comprehensive Economic Partnership (AJCEP)

Total FOB (RM mil.) Total CO

0

100

200

300

400

500

600

700

800

900

0

50

100

150

200

250

4 M

ar

11 M

ar

18 m

ar

25 M

ar

1 A

pr

8 A

pr

15 A

pr

22 A

pr

29 A

pr

6 M

ay

13 M

ay

20 M

ay

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

ASEAN-India Free Trade Agreement (AIFTA)

Total FOB (RM mil.) Total CO

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

0

20

40

60

80

100

120

140

4 M

ar

11 M

ar

18 m

ar

25 M

ar

1 A

pr

8 A

pr

15 A

pr

22 A

pr

29 A

pr

6 M

ay

13 M

ay

20 M

ay

No.

of C

ertif

icat

e of

Orig

in

RM m

il.

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

Total FOB (RM mil.) Total CO

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5MITI 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

Number and Value of Preferential Certificates of Origin (PCOs)

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

0

200

400

600

800

1,000

1,200

0

50

100

150

200

250

300

350

400

450

5004

Mar

11 M

ar

18 m

ar

25 M

ar

1 A

pr

8 A

pr

15 A

pr

22 A

pr

29 A

pr

6 M

ay

13 M

ay

20 M

ay

No.

of C

ertif

icat

e of

Orig

in

RM m

il.

Malaysia-Japan Economic Partnership (MJEPA)

Total FOB (RM mil.) Total CO

0

50

100

150

200

250

0

20

40

60

80

100

120

140

4 M

ar

11 M

ar

18 m

ar

25 M

ar

1 A

pr

8 A

pr

15 A

pr

22 A

pr

29 A

pr

6 M

ay

13 M

ay

20 M

ay

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

Malaysia-Pakistan Closer Economic Partnership (MPCEPA)

Total FOB (RM mil.) Total CO

0

2

4

6

8

10

12

14

16

0.00

0.05

0.10

0.15

0.20

0.25

0.30

0.35

0.40

0.45

0.50

4 M

ar

11 M

ar

18 m

ar

25 M

ar

1 A

pr

8 A

pr

15 A

pr

22 A

pr

29 A

pr

6 M

ay

13 M

ay

20 M

ay

No.

of C

ertif

icat

e of

Orig

in

RM m

il.

Malaysia-New Zealand Free Trade Agreement (MNZFTA)

Total FOB (RM mil.) Total CO

0

20

40

60

80

100

120

0

10

20

30

40

50

60

70

4 M

ar

11 M

ar

18 m

ar

25 M

ar

1 A

pr

8 A

pr

15 A

pr

22 A

pr

29 A

pr

6 M

ay

13 M

ay

20 M

ay

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

Malaysia-Chile Free Trade Agreement (MCFTA)

Total FOB (RM mil.) Total CO

0

50

100

150

200

250

300

350

400

450

500

0

10

20

30

40

50

60

70

80

4 M

ar

11 M

ar

18 m

ar

25 M

ar

1 A

pr

8 A

pr

15 A

pr

22 A

pr

29 A

pr

6 M

ay

13 M

ay

20 M

ay

No.

of C

ertif

icat

e of

Orig

in

RM m

il.

Malaysia-India Comprehensive Economic Cooperation Agreement (MICECA)

Total FOB (RM mil.) Total CO

0

100

200

300

400

500

600

0

20

40

60

80

100

120

140

4 M

ar

11 M

ar

18 m

ar

25 M

ar

1 A

pr

8 A

pr

15 A

pr

22 A

pr

29 A

pr

6 M

ay

13 M

ay

20 M

ay

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

Malaysia-Australia Free Trade Agreement (MAFTA)

Total FOB (RM mil.) Total CO

0

50

100

150

200

250

300

350

0

50

100

150

200

250

4 M

ar

11 M

ar

18 m

ar

25 M

ar

1 A

pr

8 A

pr

15 A

pr

22 A

pr

29 A

pr

6 M

ay

13 M

ay

20 M

ay

No.

of C

ertif

icat

e of

Orig

in

RM m

il.

Malaysia-Turkey Free Trade Agreement (MTFTA)

Total FOB (RM mil.) Total CO

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6MITI Tower, No. 7, Jalan Sultan Haji Ahmad Shah, 50480 Kuala Lumpur, Malaysia Tel: +603 - 8000 8000 Fax: +603 - 6202 9446

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Source : Bank Negara Malaysia

Malaysian Ringgit Exchange Rate with Selected Countries,January 2017 - April 2018

US Dollar

Canadian Dollar

New Zealand Dollar

Swiss Franc

Saudi Riyal

Myanmar Kyat

4.4596

3.8862

3.50

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

2017 2018

RM

USD 1 = RM

3.3755

3.4288

3.0211

3.0530

2.80

2.90

3.00

3.10

3.20

3.30

3.40

3.50

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

2017 2018

RM

CAD 1 = RM

3.1735

3.2126

2.84142.8176

2.60

2.70

2.80

2.90

3.00

3.10

3.20

3.30

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

2017 2018

RM

NZD 1 = RM

4.42094.4697

4.0186

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

2017 2018RM

CHF 1 = RM

118.9006

103.6265

95.0

100.0

105.0

110.0

115.0

120.0

125.0

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

2017 2018

RM

SAR 100 = RM

0.3296

0.2921

0.2932

0.270

0.280

0.290

0.300

0.310

0.320

0.330

0.340

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

2017 2018

RM

MMK 100 = RM

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7MITI 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

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

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-

25 May 2018 : US$78.5, 0.1%*Average Pricei : 2017: US$55.0 2016: US$45.3

CRUDE PALM OIL-per MT-

25 May 2018 : US$663.1, 1.2%*Average Pricei : 2017: US$719.7 2016: US$702.2

RUBBER SMR 20-per MT-

25 May 2018 : US$1,453.0, 1.5%*Average Pricei : 2017: US$1,646.6 2016: US$1,394.5

COAL -per MT-25 May 2018 : US$59.6, 2.1%*Average Pricei : 2017: US$57.2 2016: US$45.6

COCOA SMC 2-per MT-

25 May 2018 : US$1,744.3, 2.3%*Average Pricei : 2017: US$1,439.0 2016: US$1,609.8

SCRAP IRON HMS-per MT-

25 May 2018 :US$350.0(high), unchanged* US$340.0 low), 3.0%* Average Pricei : 2017: US$314.5 2016: US$243.2

HIGHEST and LOWEST 2017/2018

Highest 18 May 2018 : US$78.5 29 Dec 2017 : US$66.9

Lowest

9 Feb 2018 : US$62.8

23 June 2017 : US$45.5

Crude Petroleum

(Brent)-per bbl-

Highest 9 Mar 2018 : US$691.5 20 Jan 2017 : US$843.0

Lowest

30 June 2017 : US$650.0 23 Feb 2018 : US$653.5

Crude Palm Oil -per MT-

Domestic Prices25 May 2018

Steel Bars(per MT)

RM2,350 – RM2,500

Billets(per MT)

RM2,050 – RM2,300

SUGAR -per lbs-25 May 2018 : US¢12.4, 6.2%*Average Pricei : 2017: US¢15.8 2016: US¢18.2

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MITI Weekly Bulletin | www.miti.gov.my

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.

691.5

673.5676.0 677.0 675.8 674.5

665.5

654.0

641.7 641.5

655.0

663.1

610

620

630

640

650

660

670

680

690

700

9Mar 16Mar 23Mar 29Mar 6Apr 13Apr 20Apr 27Apr 4May 11May 18May 25May

US$

/mt

Crude Palm Oil

1,673.3

1,720.21,699.5

1,719.2

1,672.5 1,662.6

1,849.91,888.0

1,918.9 1,915.5

1,785.3

1,744.3

1,200

1,300

1,400

1,500

1,600

1,700

1,800

1,900

2,000

9Mar 16Mar 23Mar 29Mar 6Apr 13Apr 20Apr 27Apr 4May 8May 18May 25May

US$

/mt

Cocoa

12.8

12.712.6

12.4 12.312.2

11.9

11.5 11.5

11.2

11.7

12.5

10.0

10.5

11.0

11.5

12.0

12.5

13.0

9Mar 16Mar 23Mar 29Mar 6Apr 13Apr 20Apr 27Apr 4May 11May 18May 25May

US¢

/lbs

Sugar

1,453.0

1,463.0

1,361.5

1,384.5

1,353.0

1,398.5

1,425.5

1,388.5

1,438.5 1,435.51,431.5

1,457.0

1,280

1,300

1,320

1,340

1,360

1,380

1,400

1,420

1,440

1,460

1,480

9Mar 16Mar 23Mar 29Mar 6Apr 13Apr 20Apr 27Apr 4May 8May 18May25MayU

S$/m

t

Rubber SMR 20

6,90

0 7,08

8

7,11

3 7,28

1

6,91

7

6,85

1

6,73

0

6,33

7

6,08

5

5,96

5

4,51

6

3,98

4

4,36

6 4,60

5

4,17

0 4,47

4

4,46

3

3,97

4

2,95

0

3,47

6

4,11

4

2,500

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 Jun Jul Aug Sep

2016 2017

USD

/ to

nne

Black Pepper

62.0 62.3

65.964.9

62.1

67.4 67.468.1

69.770.7

71.3

67.965.566.2

70.5 70.3

67.1

72.6

74.174.6 74.9

77.178.5

76.4

50

55

60

65

70

75

80

9Mar 16Mar 23Mar 29Mar 6Apr 13Apr 20Apr 27Apr 4May 11May 18May 25May

US$

/bbl

Crude Petroleum

CrudePetroleum(WTI)/bblCrudePetroleum(Brent)/bbl

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MITI Weekly Bulletin | www.miti.gov.my

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.

63.863.4

63.0

60.8

59.2 59.258.9

56.6 56.6 56.6

58.3

59.6

52.0

54.0

56.0

58.0

60.0

62.0

64.0

66.0

9Mar 16Mar 23Mar 29Mar 6Apr 13Apr 20Apr 27Apr 4May 11May 18May 25May

US$

/t

Coal

1,79

1 1,86

1 1,90

1

1,92

1

1,91

3

1,88

5

1,90

3

2,03

0 2,09

6

2,13

1

2,09

7

2,08

0

2,21

0

2,18

2

2,06

9

2,25

5

1,400

1,500

1,600

1,700

1,800

1,900

2,000

2,100

2,200

2,300

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

2017 2018

US$

/ to

nn

e

Aluminium

5,75

5 5,94

1

5,82

5

5,68

4

5,60

0

5,72

0

5,98

5

6,48

6

6,57

7 6,80

8

6,82

7

6,83

4 7,06

6

7,00

7

6,79

9

6,85

2

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

2017 2018

US$

/ to

nn

e

Copper

9,97

1 10,6

43

10,2

05

9,60

9

9,15

5

8,93

2 9,49

1

10,890

11,2

16

11,3

36 11

,972

11,4

95

12,865

13,5

96

13,3

93

13,938

7,000

8,000

9,000

10,000

11,000

12,000

13,000

14,000

15,000

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

2017 2018

US$

/ to

nn

e

Nickel

Commodity Price Trends

410.0 410.0 410.0 410.0

400.0

380.0 380.0

350.0 350.0 350.0 350.0 350.0

400.0395.0 395.0 395.0

385.0

350.0

340.0

330.0 330.0 330.0 330.0

340.0

300

320

340

360

380

400

420

9Mar 16Mar 23Mar 30Mar 6Apr 13Apr 20Apr 27Apr 4May 11May 18May 25May

US$

/mt

Scrap Iron

ScrapIron/MT(High)ScrapIron/MT(Low)

80.41

89.44

87.65

70.22

62.43

57.48

67.74

76.07

71.53

61.66

64.24

72.25 76.34

77.46

70.35

65.75

30.0

40.0

50.0

60.0

70.0

80.0

90.0

100.0

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

2017 2018

US$

/dm

tu

Iron Ore

42.5

42.1

43.3

42.642.7

43.1

43.4

42.5

42.342.4

41.5

41.9

40.5

41.0

41.5

42.0

42.5

43.0

43.5

44.0

9Mar 16Mar 23Mar 30Mar 6Apr 13Apr 20Apr 27Apr 4May 11May 18May 25May

US$

/oz

Gold

16.516.5

16.7

16.3

16.5 16.5

17.2

16.6

16.5

16.8

16.516.6

15.8

16.0

16.2

16.4

16.6

16.8

17.0

17.2

17.4

9Mar 16Mar 23Mar 29Mar 6Apr 13Apr 20Apr 27Apr 4May 11May 18May 25May

US$

/oz

Silver

952.0 954.0960.0

939.0

913.0

929

936.0

914.0

904.0

929.0

888.0

912.0

840.0

860.0

880.0

900.0

920.0

940.0

960.0

980.0

9Mar 16Mar 23Mar 29Mar 6Apr 13Apr 20Apr 27Apr 4May 11May 18May 25May

US$

/oz

Platinum

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The 24th Meeting of the Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade (MRT) was held from 25-26 May 2018 in Port Moresby, Papua New Guinea. The MRT was attended by all the 21 APEC Economies. Representatives from ASEAN Secretariat, Pacific Economic Cooperation Council (PECC) and The Pacific Island Forum (PIF) also attended the meeting as observers together with the APEC Business Advisory Council (ABAC). Malaysia was represented by the Deputy Secretary General (Trade) of the Ministry of International Trade and Industry.

As the host for APEC 2018, Papua New Guinea has chosen “Harnessing Inclusive Opportunities, Embracing the Digital Future” as the theme for APEC 2018. With the identified priorities relating to improving connectivity, deepening regional economic integration, promoting sustainable and inclusive growth, as well as strengthening inclusive growth through structural reform, the Ministers had an in-depth discussion focusing on those priorities.

Recognising the importance of digital economy as the enabler in today’s businesses, Ministers deliberated on APEC’s leadership in the digital agenda and how to harness and foster sustainable and inclusive growth that will benefit all segments of society, including MSMEs and Women. Ministers also continued to emphasise on deepening regional economic integration and connectivity, through strengthened commitment to achieve the Bogor Goals of free and open trade and investment by 2020, as well as the realisation of the Free Trade Area of the Asia-Pacific (FTAAP). The FTAAP is envisaged to be of high-quality and comprehensive, building upon the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and Regional Comprehensive Economic Partnership (RCEP), which have been identified as the two possible pathways towards the realisation of FTAAP.

Ministers continued to recognise the importance of the Multilateral Trading System (MTS) and the need to work together to support, strengthen and improve the MTS. At the same time, they reiterated the importance of the WTO in maintaining the rules-based, transparent, and predictable MTS. Ministers reaffirmed their commitment to reject protectionism, reduce trade distortive and WTO-inconsistent non-tariff measures, in their effort to promote a free and mutually-advantageous trade in the APEC region. Papua New Guinea underscored these commitments in a Chair’s Statement on the Multilateral Trading System. The 24th APEC MRT Statement and Chair’s Statement can be accessed from the APEC official website.

Malaysia views APEC as a driver of economic growth and greater regional integration, through trade and investment liberalisation and facilitation, with the aim of creating jobs and improving living standards. Malaysia will continue to be a constructive participant in this process. The next MRT meeting will be held in Chile in May 2019.

ME

DIA

RE

LEA

SE

ASIA-PACIFIC ECONOMIC COOPERATION 2018 24th MINISTERS RESPONSIBLE FOR TRADE MEETING

Ministry of International Trade and IndustryKuala Lumpur, Malaysia28 May 2018

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Source: http://www.miti.gov.my/index.php/glossary

of Technical TermsGVCGlobal Value Chain - The different processes in different parts of the world that each add value to the goods or services being produced.

Horizontal ApproachApproach to address NTBs in all sectors. For example elimination of export taxes.

HRCHot Rolled Coil - steel processed at a high temperature (typically at a temperature over 1700° F), which is above the steel’s recrystallization temperature. When steel is above the recrystallization temperature, it can be shaped and formed easily, and the steel can be made in much larger sizes.

HSHarmonized System Tariff Code. An international nomenclature developed by the World Customs Organization, which is arranged in six-digit codes allowing all participating countries to classify traded goods on a common basis. Beyond the six-digit level, countries are free to introduce national distinctions for tariffs and many other purposes.

HS Harmonised System - The Harmonized Commodity Description and Coding System (HS) is a tariff nomenclature system developed and maintained by the World Customs Organization (WCO) for the purpose of describing and providing coding for the products traded.

IAPIndividual 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 trade-related issues such as tariffs and non-tariff barriers that can restrict trade or make it more expensive (such as quotas, subsidies, minimum import prices, quarantine measures and technical barriers). There are also chapters on services and investment or arrangements that impact on investment. Since 2001, members have been using e-IAP to make IAPs more transparent, accessible, easily assessed and referred to. Starting 2012, economies will submit their IAPs every two years in 2012, 2014, and 2018; in 2016 and 2020, economies will respectively undertake a second term review and a final assessment.

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

ICPInternal 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 bulk and multiple-use permits under STA 2010. It is also to safeguard the company from being manipulated by proliferators of WMD.

ILPIndustrial Linkage Programmes - is implemented to integrate local SMIs into the mainstream industrial sector to forge stronger industry linkages.

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Announcement

Tentative Schedule for MITI Pocket Talk 2018No. Date Venue Topic

1 6-Jun MITI HQ • Introduction Preferential Certificate of Origin (PCO)• Updates on RCEP

2 18-Jul MITI Kelantan • Introduction to FTA & Preferential Certificate of Origin (PCO)

3 8-Aug MITI HQ • Introduction Preferential Certificate of Origin (PCO)• Updates on RCEP

4 15-Aug MITI Perak • Introduction to FTA & Preferential Certificate of Origin (PCO)

5 19-Sep MITI Pahang • Introduction to FTA & Preferential Certificate of Origin (PCO)

6 17-Oct MITI HQ • Introduction to FTA & Preferential Certificate of Origin (PCO)

7 14-Nov MITI Sabah • Introduction to FTA & Preferential Certificate of Origin (PCO)

8 5-Dec MITI HQ • Introduction to FTA & Preferential Certificate of Origin (PCO)

9 12-Dec MITI Sarawak • Introduction to FTA & Preferential Certificate of Origin (PCO)

Please click here to register

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MITI Weekly Bulletin | www.miti.gov.my

Announcement

Withholding TaxFor more information on Withholding Tax, please visit LHDN’s website via this link: http://www.hasil.gov.my/bt_goindex.php?bt_kump=2&bt_skum=6&bt_posi=1&bt_unit=5&bt_sequ=1&bt_lgv=2

Industry 4.0For more information on Industry 4.0, please visit MITI’s website via this link: http://www.miti.gov.my/index.php/pages/view/industry4.0?mid=559

Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)

For more information on Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)please visit MITI’s website via this link: http://fta.miti.gov.my/index.php/pages/view/71?mid=40

MITI Weekly Bulletin Editorial Committee

to our readers...

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