MITI Tower, No. 7, Jalan Sultan Haji Ahmad Shah, 50480 Kuala Lumpur, Malaysia Tel: +603 - 8000 8000 Fax: +603 - 6202 9446
The Third Malaysia-Indonesia Joint Trade and Investment Committee Meeting
Kuching, Sarawak, 13 July 2017
The Ministry of International Trade and Industry, supported by the State of Sarawak, hosted the Third Joint Trade and Investment Committee (JTIC) meeting between Malaysia and Indonesia in Kuching, Malaysia on 13 July 2017. This JTIC Meeting was co-chaired by YB Dato’ Sri Mustapa Mohamed, Minister of International Trade and Industry and His Excellency Drs. Enggartiasto Lukita, Minister of Trade of Indonesia.
JTIC is a platform to strengthen trade and investment ties between Malaysia and Indonesia. Through this platform, the proposed collaboration and emerging issues relating to bilateral economic relations can be discussed and settled diplomatically, constructively and orderly. The first JTIC meeting was held in Kuala Lumpur on 15 October 2008 while the second JTIC Meeting, which was held in Jakarta on 30 June 2016, has discussed issues including cross border trade and export of Malaysian halal products to Indonesia.
In this year’s edition of JTIC meeting, both parties are working towards achieving progress in a few key outstanding issues such as Review of 1970 Border Trade Agreement; Trade restriction on Tebedu-Entikong border; Recognition of Malaysia’s halal logo by Indonesian authority; Cooperation in Intellectual Property (IP) issues; Standards and recognition; and Cooperation and collaboration on issues related to palm oil products.
Indonesia is Malaysia’s 8th largest trading partner and the 3rd largest among the ASEAN countries. Total trade between Malaysia and Indonesia in 2016 was RM57.09 billion. For the first 5 months this year, total trade increased by 38.4% from RM22.92 billion to RM31.73 billion in January - May 2016.
Ministry of International Trade and Industry13 July 2017
Since 1980 until 2016, a total of 166 manufacturing projects with participation from Indonesia were approved in Malaysia with total investment of US$1.93 billion (RM5.32 billion). The projects have created 32,818 job opportunities. In 2016, a total of 2 projects from Indonesian investors were approved valued at $1.03 billion (RM4.61 billion). These projects have created jobs for 128 people. Also in 2016, the top 5 projects ranked according to the total value of investment were Food Manufacturing; Beverages & Tobacco; Textiles & Textile Products; Leather & Leather Products; and Wood & Wood Products.
According to the International Investment Position Fourth Quarter Report of 2016 by the Department of Statistics (DOS), Indonesia remains as one of Malaysia’s top three direct investment destinations at 9.6%. Based on the same report, Malaysian investment in Indonesia amounted to RM214.94 million in 2015 and RM209.5 million in 2016. Investments in Indonesia are mostly in key sectors such as oil palm plantation sector, banking, oil and gas, telecommunications andconstruction. According to Badan Koordinasi Penanaman Modal (BKPM) Indonesia in 2016, Malaysia secured the 8th largest investor behind Singapore, China, Japan, USA, Hong Kong, Netherlands and South Korea with total investment worth of US$1.1 billion.
There are many business opportunities exist between the two countries. With a total population of 255 million people, Indonesia provides potential huge market to be tapped by Malaysian companies. Malaysia at the same time needs to ramp up its efforts in attracting more investment from Indonesia. Besides JTIC, The Minister of International Trade and Industry has taken the opportunity to visit Tebedu-Entikong border to oversee the latest developments in the area.
MITI Tower, No. 7, Jalan Sultan Haji Ahmad Shah, 50480 Kuala Lumpur, Malaysia Tel: +603 - 8000 8000 Fax: +603 - 6202 9446
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Malaysia
Manufacturing PerforMance, January - May 2017
Source: Department of Statistics, MalaysiaNotes: % refers to year-on-year change 1 data for month of May only
21.6%
RM308.5bExports Imports Total Trade
24.4%
RM297.3b
23.0%
RM605.7b
Jan-May 2017
Jan-May 2016 Jan-May 2016 Jan-May 2016 May 2016
14.9%
Sales Value
Number of
Employees
Salaries&
Wages
SalesValue PerEmployee1
RM308.9b 1,051,923 persons RM16.9b RM58,863
2.7% 6.6% 16.4%
RM268.8b 1,024,759 persons RM15.7b RM50,578
Trade in Manufacturing
Manufacturing Indicators
Industrial Production Index
Jan-Apr 2016
IPI Mining Manufacturing Electricity
4.3% -0.1% 6.2% 0.7%127.9 105.9 137.3 131.5
Jan-May 2016122.6
Jan-May 2016106.0
Jan-May 2016129.3
Jan-May 2016130.7
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
(21.7%)RM133.6b
ImportsExports
Trade in Manufacturing
Sales
Manufacturing Index
Manufacturing PerforManceby MaJor industry
January - May 2017
E&E Products
(52.3%)RM31.3bPetroleum Products
(22.3%)RM28.3bChemicals & Chemical Products
(22.0%)RM100.6bE&E Products
(19.6%)RM33.2bChemicals & Chemical Products
(31.2%)RM32.2bMachinery, Equipment & Parts
(13.7%)RM103.1bE&E Industry
(19.7%)RM88.8bChemical Industry
(14.2%)RM23.2bMetal Industry
Employment
(3.4%)329,725 personsE&E Industry
(2.2%)Chemical Industry
(-1.7%)Wood & Wood Products Industry
128,660 persons
95,432 persons
(23.3#)124.8Chemical Industry
(14.3#)
(4.7#)Metal Industry
159.8
140.4
E&E Industry
Source: Department of Statistics, Malaysia
Note: % is year-on-year growth # industry weight
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
current PoPuLation estiMates, MaLaysia, 2016-2017
Source: Department of Statistics, Malaysia
107 : 100
In 2017, Malaysia’s population estimated at 32.0 million with a population growth rate of 1.3%
MITI 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 IMD
World Digital Competitiveness Ranking 2017
Source: https://www.imd.org/globalassets/wcc/docs/release-2017/world_digital_competitiveness_yearbook_2017.pdf
Knowledge TechnologyFuture
Readiness Overall
Singapore
Sweden
USA
Finland
Denmark
Netherlands
Hong Kong SAR
Switzerland
Canada
Norway
Malaysia
Thailand
Philippines
Indonesia
1
2
3
4
5
6
7
8
9
10
24
41
46
59
1 1 6
2 5 5
5 6 2
9 4 4
8 10 1
11 9 3
6 3 17
4 8 13
3 13 8
15 2 12
17 18 27
44 30 45
53 51 43
58 56 62
The IMD World Digital Competitiveness Ranking presents the 2017 overall rankings for the 63 economies covered by the WCY. The rankings are calculated on the basis of the 50 ranked criteria: 30 Hard and 20 Survey data. The countries are ranked from the most to the least digital competitive.
MITI Tower, No. 7, Jalan Sultan Haji Ahmad Shah, 50480 Kuala Lumpur, Malaysia Tel: +603 - 8000 8000 Fax: +603 - 6202 9446
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Number and Value of Preferential Certificates of Origin (PCOs)
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.
0
20
40
60
80
100
120
140
160
180
200
0
5
10
15
20
25
30
35
40
45
23 A
pr
30 A
pr
7 M
ay
14 M
ay
21 M
ay
28 M
ay
4 Ju
n
11 J
un
18 J
un
25 J
un
2 Ju
l
9 Ju
l
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
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,00023
Apr
30 A
pr
7 M
ay
14 M
ay
21 M
ay
28 M
ay
4 Ju
n
11 J
un
18 J
un
25 J
un
2 Ju
l
9 Ju
l
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
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
23 A
pr
30 A
pr
7 M
ay
14 M
ay
21 M
ay
28 M
ay
4 Ju
n
11 J
un
18 J
un
25 J
un
2 Ju
l
9 Ju
l
No. o
f Cer
tific
ate
of O
rigin
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
0
500
1,000
1,500
2,000
2,500
23 A
pr
30 A
pr
7 M
ay
14 M
ay
21 M
ay
28 M
ay
4 Ju
n
11 J
un
18 J
un
25 J
un
2 Ju
l
9 Ju
l
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
23 A
pr
30 A
pr
7 M
ay
14 M
ay
21 M
ay
28 M
ay
4 Ju
n
11 J
un
18 J
un
25 J
un
2 Ju
l
9 Ju
l
No. o
f Cer
tific
ate
of O
rigin
RM m
il.
ASEAN-Japan Comprehensive Economic Partnership (AJCEP)
Total FOB (RM mil.) Total CO
0
100
200
300
400
500
600
700
800
0
50
100
150
200
250
23 A
pr
30 A
pr
7 M
ay
14 M
ay
21 M
ay
28 M
ay
4 Ju
n
11 J
un
18 J
un
25 J
un
2 Ju
l
9 Ju
l
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
0
20
40
60
80
100
120
140
160
180
23 A
pr
30 A
pr
7 M
ay
14 M
ay
21 M
ay
28 M
ay
4 Ju
n
11 J
un
18 J
un
25 J
un
2 Ju
l
9 Ju
l
No. o
f Cer
tific
ate
of O
rigin
RM m
il.
ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA)
Total FOB (RM mil.) Total CO
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
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
23 A
pr
30 A
pr
7 M
ay
14 M
ay
21 M
ay
28 M
ay
4 Ju
n
11 J
un
18 J
un
25 J
un
2 Ju
l
9 Ju
l
No. o
f Cer
tific
ate
of O
rigin
RM m
il.
Malaysia-Japan Economic Partnership (MJEPA)
Total FOB (RM mil.) Total CO
0
50
100
150
200
250
300
350
0
20
40
60
80
100
120
140
160
23 A
pr
30 A
pr
7 M
ay
14 M
ay
21 M
ay
28 M
ay
4 Ju
n
11 J
un
18 J
un
25 J
un
2 Ju
l
9 Ju
l
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
1
2
3
4
5
6
7
0.0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
23 A
pr
30 A
pr
7 M
ay
14 M
ay
21 M
ay
28 M
ay
4 Ju
n
11 J
un
18 J
un
25 J
un
2 Ju
l
9 Ju
l
No. o
f Cer
tific
ate
of O
rigin
RM m
il.
Malaysia-New Zealand Free Trade Agreement (MNZFTA)
Total FOB (RM mil.) Total CO
0
20
40
60
80
100
120
140
160
180
200
0
10
20
30
40
50
60
70
80
90
100
23 A
pr
30 A
pr
7 M
ay
14 M
ay
21 M
ay
28 M
ay
4 Ju
n
11 J
un
18 J
un
25 J
un
2 Ju
l
9 Ju
l
No. o
f Cer
tific
ate
of O
rigin
RM m
il.
Malaysia-China Free Trade Agreement (MCFTA)
Total FOB (RM mil.) Total CO
0
50
100
150
200
250
300
350
400
450
500
0
50
100
150
200
250
23 A
pr
30 A
pr
7 M
ay
14 M
ay
21 M
ay
28 M
ay
4 Ju
n
11 J
un
18 J
un
25 J
un
2 Ju
l
9 Ju
l
No. o
f Cer
tific
ate
of O
rigin
RM m
il.
Malaysia-India Comprehensive Economic Cooperation Agreement (MICECA)
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
23 A
pr
30 A
pr
7 M
ay
14 M
ay
21 M
ay
28 M
ay
4 Ju
n
11 J
un
18 J
un
25 J
un
2 Ju
l
9 Ju
l
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
400
450
0
50
100
150
200
250
300
350
400
450
500
23 A
pr
30 A
pr
7 M
ay
14 M
ay
21 M
ay
28 M
ay
4 Ju
n
11 J
un
18 J
un
25 J
un
2 Ju
l
9 Ju
l
No. o
f Cer
tific
ate
of O
rigin
RM m
il.
Malaysia-Turkey Free Trade Agreement (MTFTA)
Total FOB (RM mil.) Total CO
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
Source : Bank Negara Malaysia
Malaysian Ringgit Exchange Rate with Selected Countries,January 2016 - June 2017
US Dollar Hong Kong Dollar
Philippine Peso
Vietnamese Dong
Indonesian Rupiah
Indian Rupee
4.34814.2765
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 May Jun
2016 2017
RM
USD 1 = RM
9.1465
8.5731
8.00
8.20
8.40
8.60
8.80
9.00
9.20
9.40
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2016 2017
RM
PHP 100 = RM
0.01940.0188
0.015
0.016
0.017
0.018
0.019
0.020
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2016 2017
RM
VND 100 = RM
55.892754.8434
46.00
48.00
50.00
52.00
54.00
56.00
58.00
60.00
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2016 2017RM
HKD 100 = RM
0.03130.0321
0.020
0.022
0.024
0.026
0.028
0.030
0.032
0.034
0.036
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2016 2017
RM
IDR 100 = RM
6.4609
6.6352
5.20
5.40
5.60
5.80
6.00
6.20
6.40
6.60
6.80
7.00
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2016 2017
RM
INR 100 = RM
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
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.
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
Commodity PricesCRUDE PETROLEUM (BRENT)
-per bbl-14 July 2017 : US$49.0, 4.9%*
Average Pricei : 2016: US$45.3 2015: US$53.6
CRUDE PALM OIL-per MT-
14 July 2017 : US$666.0, 2.5%*Average Pricei : 2016: US$702.2 2015: US$616.9
RUBBER SMR 20-per MT-
14 July 2017 : US$1,510.0, 2.8%*
Average Pricei : 2016: US$1.394.5 2015: US$1.364.3
COAL -per MT-14 July 2017 : US$44.1, unchangedAverage Pricei : 2016: US$45.6 2015: US$49.9
COCOA SMC 2-per MT-
14 July 2017 : US$1,373.5, 3.2%*
Average Pricei : 2016: US$1,609.8 2015: US$2,077.0
SCRAP IRON HMS-per MT-
14 July 2017 : US$315.0 (high), 5.0% US$300.0 (low), 7.1%Average 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
23 June 2017 : US$45.5
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 30 June 2017 : US$650.0
Crude Palm Oil -per MT-
Domestic Prices14 July 2017
Steel Bars(per MT)
RM2,000 – RM2,150
Billets(per MT)
RM1,850 – RM1,900
SUGAR -per lbs-14 July 2017 : US¢ 14.3, 1.1%*
Average Pricei : 2016: US¢18.2 2015: US¢13.2
MITI Tower, No. 7, Jalan Sultan Haji Ahmad Shah, 50480 Kuala Lumpur, Malaysia Tel: +603 - 8000 8000 Fax: +603 - 6202 9446
MITI Weekly Bulletin | www.miti.gov.my
Commodity Price Trends
Sources: Ministry of International Trade and Industry Malaysia, Malaysian Palm Oil Board, Malaysian Rubber Board, Malaysian Cocoa Board, Malaysian Pepper Board, Bloomberg and Czarnikow Group, World Bank, World Gold Council, The Wall Street Journal.
673.0
688.8
711.5
741.0
749.5
722.5 720.0707.0
688.5
650.0 650.0
666.0
600
620
640
660
680
700
720
740
760
28 Apr 5 May 12 May 19 May 26 May 2 Jun 9 Jun 16 Jun 23 Jun 30 Jun 7 Jul 14 Jul
US$
/mt
Crude Palm Oil
1,299.6
1,268.3
1,368.4 1,374.5
1,274.1
1,459.8
1,417.9
1,501.7
1,270.7
1,385.7
1,419.1
1,373.5
1,200
1,250
1,300
1,350
1,400
1,450
1,500
1,550
28 Apr 5 May 12 May 19 May 26 May 2 Jun 9 Jun 16 Jun 23 Jun 30 Jun 7 Jul 14 Jul
US$
/mt
Cocoa
16.1
15.315.5
16.4
15.1
13.7
14.5
13.6
13.2
13.8
14.214.3
12.0
12.5
13.0
13.5
14.0
14.5
15.0
15.5
16.0
16.5
17.0
28 Apr 5 May 12 May 19 May 26 May 2 Jun 9 Jun 16 Jun 23 Jun 30 Jun 7 Jul 14 Jul
US¢
/lbs
Sugar
1,589.0
1,487.5 1,487.5
1,558.0 1,559.0
1,447.5
1,393.5
1,469.0
1,381.0
1,540.0
1,469.0
1,510.0
1,300
1,350
1,400
1,450
1,500
1,550
1,600
1,650
28 Apr 5 May 12 May 19 May 26 May 2 Jun 9 Jun 16 Jun 23 Jun 30 Jun 7 Jul 14 Jul
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
4,571
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 31 May 2017** data for April & June 2017 are not available
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
Commodity Price Trends
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.
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 1,913
1,885
1,400
1,500
1,600
1,700
1,800
1,900
2,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2016 2017
US$
/ to
nn
e
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 5,600
5,720
4,000
4,500
5,000
5,500
6,000
6,500
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2016 2017
US$
/ to
nn
e
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
9,155 8,932
7,000
7,500
8,000
8,500
9,000
9,500
10,000
10,500
11,000
11,500
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2016 2017
US$
/ to
nn
e
Nickel
49.3
46.2
47.8
50.3
49.8
47.7
45.8
44.7
43.0
46.3
44.2
46.6
51.7
49.1
50.8
53.6
52.2
50.0
48.2
47.4
45.5
47.9
46.7
49.0
40
42
44
46
48
50
52
54
56
28 Apr 5 May 12 May 19 May 26 May 2 Jun 9 Jun 16 Jun 23 Jun 30 Jun 7 Jul 14 Jul
US$
/bb
l
Crude Petroleum
Crude Petroleum (WTI)/bbl Crude Petroleum (Brent)/bbl
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
Commodity Price Trends
Sources: Ministry of International Trade and Industry Malaysia, Malaysian Iron and Steel Industry Federation, Bloomberg and Czarnikow Group, World Bank.
948.0
911.0
925.0
946.0
964.0
935.0
942.0
926.0930.0
914.0 914.0
921.0
880.0
890.0
900.0
910.0
920.0
930.0
940.0
950.0
960.0
970.0
28 Apr 5 May 12 May 19 May 26 May 2 Jun 9 Jun 16 Jun 23 Jun 30 Jun 7 Jul 14 Jul
US$
/oz
Platinum
290.0
280.0 280.0 280.0 280.0
270.0 270.0 270.0 270.0 270.0
300.0
315.0
280.0
270.0 270.0 270.0
260.0
240.0 240.0 240.0 240.0 240.0
280.0
300.0
220
230
240
250
260
270
280
290
300
310
320
28 Apr 5 May 12 May 19 May 26 May 2 Jun 9 Jun 16 Jun 23 Jun 30 Jun 7 Jul 14 Jul
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
62.43
57.48
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 May Jun
2016 2017
US$
/dm
tu
Iron Ore
17.3
16.3
16.5
16.9
17.317.4
17.2
16.8 16.816.7
15.9
16.1
15.0
15.5
16.0
16.5
17.0
17.5
28 Apr 5 May 12 May 19 May 26 May 2 Jun 9 Jun 16 Jun 23 Jun 30 Jun 7 Jul 14 Jul
US$
/oz
Silver
40.7
39.5 39.6
40.3
40.7
41.0
40.7
40.4 40.4
39.9
39.1
39.6
38.0
38.5
39.0
39.5
40.0
40.5
41.0
41.5
27 Apr 4 May 11 May 18 May 25 May 1 Jun 8 Jun 15 Jun 22 Jun 29 Jun 6 Jul 13 Jul
US$
/oz
Gold
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
22nd National SME Development Council Meeting, 12 July 2017MITI PROGRAMMEMITI PROGRAMME
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Program Hijau@MITI
14 July 2017
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3rd Malaysia-Indonesia Joint Trade & Investment Committee Meeting, Kuching, Sarawak, 12-15 July 2017
MITI PROGRAMMEMITI PROGRAMME
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Majlis Networking Hari Raya MITI & Agensi Bersama Sektor Swasta,
Menara MITI, 18 Julai 2017
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Majlis Networking Hari Raya MITI & Agensi Bersama Sektor Swasta,
Menara MITI, 18 Julai 2017
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I am very glad to be here tonight in the presence of so many distinguished corporate figures, friends from America and from home, and my thanks go to the American Malaysian Chamber of Commerce for organising this dinner to celebrate 60 years of partnership between Malaysia and the United States of America. Our official ties go back to 1957, but the relationship between our nations goes much further back into history. Our rubber, for example, was crucial for the growth of the American automobile industry, and that demand spurred our production – an early synergy between our countries.
Trade has long been at the heart of our connections. The US has always been among the Top Ten foreign investors and trading partners of Malaysia, and at various times, has taken the top spot. American companies employ some 200,000 Malaysians, and they are among the largest employers in states like Penang, Perak and Negeri Sembilan. American firms have played an important role in driving the growth of the energy, finance, electronics, technology and manufacturing sectors here, and the cumulative value of US private investment in the manufacturing sector alone, for example, is more than US$15 billion.
Over the years, American companies here have created a multiplier effect. By investing in Malaysia, you have also invested in our people and our communities. In electronics, which is Malaysia’s top export category, for instance, I am told that the American E&E cluster is responsible for 18 percent of our total exports. These are examples of the knowledge transfers and value-added gains that FDI brings to Malaysia, and it is why my Government is proud to have secured record-breaking amounts of FDI from around the world. Many American firms are still expanding here, some perhaps very sensibly recognising that Malaysia is perfectly positioned to be a regional hub for Southeast Asia. We welcome and appreciate that long term investment, and we thank you for the confidence you continue to demonstrate in Malaysia.
I can assure you, that confidence is not misplaced. Only earlier this year Malaysia was named the Best Country to Invest In, in a report co-authored by the Wharton School at the University of Pennsylvania.And it is no wonder, for the record of this Government speaks for itself. Under the Economic Transformation Programme which we initiated in 2010, 2.26 million jobs have been created, inflation and unemployment have been kept low, and healthy growth has been maintained even during years of great uncertainty for the global economy.
The World Bank has revised upwards their prediction for Malaysia’s growth in 2017 – to 4.9%, while Citibank Research has just released a report predicting growth will be even higher this year – their figure is 5.2 percent for 2017. Clearly there is unanimity that Malaysia is on the right path. We had a plan and that plan is delivering for Malaysians, and for all our friends and partners that wedo business with.
Given our history, it was entirely right that the US and Malaysia upgraded our relationship to a Comprehensive Partnership in 2014 – which brings me to an important point. And that is: that our relationship is about far more than trade. As was said in the joint statement at the time, the aim of the Comprehensive Partnership is, and I quote, “advancing the two countries’ common interests and theshared values of the people of the United States and Malaysia.” To an enormous extent, our interests and our values coincide.We are both democracies, with a shared belief in - and commitment to - free and fair elections; the rule of law; robust national discussion and free speech within the limits of the law; the celebration of diversity, and respect for those of different faiths and ethnicities; and particularly important in these times, we share the commitment to fight extremism and defeat the scourge of terrorism wherever itshould rear its head.
Most, if not all of you here, know Malaysia. You know that this is an inherently peaceful, moderate country. This is in our bones, in our DNA. But while we have been fortunate enough never to have suffered the Daesh or Al Qaeda-linked terrorist attacks that have killed so many in America, we are not immune. The first successful Daesh-linked attack took place just outside Kuala Lumpur in June 2016. Eight were injured; none were killed. But that was not for want of trying. Our security services have foiled many plots and deserve enormous praise for the tireless work – much of it unsung – that has kept all of us safe and secure. Their methods, and our deradicalisation programmes which have been hugely productive in rehabilitating extremists, with an over 90 percent success rate, are models for countries around the world.
Malaysia’s PrimeMinister at the American Malaysian Chamber of Commerce (AMCHAM) Dinner
US – Malaysia 60 Years Celebration11th July 2017
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Our commitment to moderation has also been recognised at the highest levels internationally, with our setting up of the Global Movement of Moderates Foundation; with our championing of the Islamic concept of wasatiyyah, or moderation, which carries the message of doing good with steadfastness, justice and brotherhood; and with the establishment of the King Salman Centre for International Peace here in Malaysia. America has made the fight against terrorism one of its top priorities; and America will find no sturdier and more reliable ally in this campaign than Malaysia. We look forward to further enhancing our cooperation in this, the fight of our times, as we know that we share the objectives of peace, security and stability for all.
The members of the America Malaysian Chamber of Commerce contribute to Malaysian life in ways that do not always make headlines, but it is appropriate that I pay tribute to that work tonight. And that is your emphasis on corporate social responsibility. American firms’ CSR reaches across the fabric of society, from donating supplies to hospitals and flood relief, to their efforts in education andtraining. There are programmes such as programmes in primary schools, vocational training for youth, programmes for the environment, and others that support diversity and the economic empowerment of women, all the while encouraging and developing local entrepreneurs and institutions of higher learning across Malaysia. We thank you for this cooperation, collaboration and contribution.
Our friendship will be even more important as we move forward. For Malaysia, 2017 is the Year of the Internet Economy. To us, that means the digital economy is not merely a component, but is a key catalyst of the real economy of the 21st century. It also means that we are embracing new opportunities through the Fourth Industrial Revolution. We want to see more smart manufacturing processes and technologies that will enhance production flexibility and efficiency, and radically transform value chains and business models. We are looking to build a stronger ecosystem centred on talent, skills and innovation.
To do this, we will need friendly, trusted partners who will perpetuate the culture of cooperation that has defined the way we do business. We want American companies, which are already at the forefront of next gen productivity, to continue to flourish in Malaysia and become strategic partners in the new businesses which will propel us to high income nation status.
It is on that note, I am pleased to announce that the Government has agreed the following services will be treated as zero-rated supply for the purposes of GST:
1. Firstly, prescribed services performed in connection with goods for export where the service is supplied to overseas customers;
2. Secondly, prescribed services supplied in the Free Zones, including Licensed Manufacturing Warehouses (LMW), to overseas customers;
3. Thirdly, R&D services provided to overseas customers; and4. Finally, non-recurring expenditure incurred as engineering expenses, including tools and machinery
used in the manufacturing process of goods.
In order to accommodate the necessary amendment to the GST Zero Rate Order, a relief from charging of GST under section 56 of the GST Act 2014 has been granted with effect from 1 July 2017. The Malaysian Government has always been supportive in facilitating the business community in Malaysia and welcomes frank and transparent dialogue between all stakeholders involved. We recognise that AMCHAM has been working tirelessly in support of its members. As such, the Government under Barisan Nasional is committed to ensuring a set of guidelines regarding the exemption of withholding tax, which will be announced by the end of this month. These guidelines will be formulated jointly by the Ministry of Finance (MOF), Ministry of International Trade and Industry(MITI), and Malaysian Investment Development Authority (MIDA) together with relevant industry groups and associations to ensure the interests of all parties are taken into consideration. A Special Committee under the Ministry of Finance will also be established to address any ambiguity or disputes that may arise.
In response to stabilising the Ringgit, Bank Negara Malaysia (BNM) has introduced several measures to realign the Dollar-Ringgit demand and supply levels. Bank Negara has implemented this policy with a view to accommodate the business needs of exporters. In light of this approach, exporters are allowed to retain 25% of export proceeds in foreign currency and in addition, are given the flexibility to increase foreign currency balances for up to six months of import payments and foreign currency obligations. This is at no additional cost through simultaneous reconversion at the same rate. It is my hope that this flexibility provides the necessary room for our exporters to accommodate their business requirements. It is also my belief that these announcements will produce a certain level of certainty and relief to members of the industry. I would like to reiterate that the Ministries and all the relevant agencies are always open for engagement and dialogue. We are committed to ensuring that Malaysia remains a welcoming place for investors, with a vibrant and conducive business environment.
I appreciate the invitation to speak to AMCHAM tonight, so that I can personally thank you for investing in Malaysia’s economy and in the Malaysian people for so many decades. Your presence is most welcome. We look forward to your companies’ expansion in Malaysia in the future, and to another 60 years and more of a strong and steadfast partnership between our two countries.Source: Prime Minister ’s Office, Malaysia
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Announcement
Kindly click http://foresightinternational.com.au/school-resources/futures-thinking-for-social-foresight/ to read a summary of this publication.
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Announcement
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of Technical TermsGATTGeneral Agreement on Tariffs and Trade. Since 1947, the multilateral institution overseeing the global trading system. Superseded by the WTO in January 1995.
GDP DeflatorA measure of the level of prices of all new, domestically produced, final goods and services in an economy that accounts for inflation by converting output measured at current prices into constant-dollar GDP.
This specific deflator shows how much a change in the base year’s GDP relies upon changes in the price level.
Calculation : Nominal gross domestic product (GDP) Real gross domestic product (GDP).
Green BoxAgriculture support (subsidies) which is exempted from reduction commitments under the WTO Agriculture Agreement and permitted without limit. Green Box subsidies include genuine relief to farmers through a wide range of assistance measures which have minimal impact on trade. Examples include subsidies for disaster relief, research, disease control, infrastructure, environment protection and food security.
Green Room mini-Ministerial MeetingMeeting attended by Trade Ministers from selected countries which participate actively in the WTO negotiations. Malaysia has been included in this process.
Gross Domestic Products (GDP)The total value of goods produced and services provided in a country during a fiscal year.
GDP can be estimated in three ways, which, in theory should yield identical figures:
• Expenditure basis i.e. how much money was spent;• Output basis i.e. how many goods and services were sold; and• Income basis i.e. how much income (profit) was earned.
Gross National Product (GNP)Total output of an economy, plus net income from abroad, for a given fiscal year (i.e. GNP = GDP + net income from abroad)
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