mustapa: briefing on tppa effective weekly... · persekutuan week with customers and wisma...
TRANSCRIPT
Source:Bernama,19 October 2015
Briefings on the Trans-Pacific Partnership Agreement (TPPA) nationwide have started to give positive outcome as more people understand the trade accord, according to International Trade and Industry Minister Dato’ Seri Mustapa Mohamed.
He said through the explanations, the people could see and evaluate the good and bad effects when the TPPA is implemented later.
Mustapa: Briefing on TPPA Effective
“Before the explanations, they could only see the bad (effects) but now I find it’s more balanced, their level of understanding has increased after getting a more comprehensive picture on the TPPA,” he told reporters after launching Wisma Persekutuan week with customers and Wisma Persekutuan Kelantan Cooperative Fiesta here. Mustapa hoped that through the
briefings, people would be able to make impartial consideration on the good and bad effects of the TPPA.
Meanwhile, Mustapa who is also Kelantan Federal Development Action Council chairman hoped Kelantan would secure new projects that could improve the people’s standard of living via Budget 2016 that would be tabled by Prime Minister Datuk Seri Najib Tun Razak in Parliament .
MITI Weekly Bulletin / www.miti.gov.my
“DR
IVIN
G T
ransformation, P
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ERIN
G G
rowth”
MALAYSIA
Source : Department of Statistics, Malaysia MITI Weekly Bulletin / www.miti.gov.my
Notes: % refer to y-o-y growth
Monthly IPI by SectorJanuary 2014 - August 2015
95.5
128.7
140.2
80
100
120
140
160
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug
2014 2015
Index
Mining Manufacturing Electricity
INDUSTRIAL PRODUCTION INDEX (IPI) January - August 2015
Electricity Index 140.2 15.9%
Mining Index 95.5 3.4%
Manufacturing Index 128.7 4.3% “D
RIV
ING
Transform
ation, PO
WER
ING
Grow
th”
IPI 119.7 3.0%
Manufacturing Sector Performance
Employment by Industry, Jan-Aug 2015
321,267 persons( 0.7%)
Electrical & Electronics
1,026,534persons
( 0.6)
TotalEmployees
Rubber Product
Notes:Others include Transport Equipment, Processed Food And Beverages, Non-Metallic Minerals Products, Textiles & Apparel, Machinery & Equipment, Scientific & Measuring, Paper, Printing & Publishing, Medical Devices, Leather & Leather and Miscellaneous.
MITI Weekly Bulletin / www.miti.gov.mySource : Department of Statistics, Malaysia
126,458 persons( 2.1%)
Chemicals
Wood and Wood Products
99,606 persons( 4.0%)
Metal
86,944 persons( 0.4%)
79,157 persons( 2.4%)
313,111 persons( 1.4%)
Others
Notes: % refer to y-o-y growth
Indica
tors, J
an - A
ug 20
15 Exports RM398.1 bil. ( 3.0%)
Imports RM387.3 bil. ( 0.5%)Manufacturing
Index 128.7 ( 4.3%)Sales RM436.0 bil. ( 0.2%)
Employment
Salary RM24.0 bil. ( 5.0%)1,026,534 persons ( 0.6%)
“DR
IVIN
G T
ransformation, P
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G G
rowth”
and You’
MITI Weekly Bulletin / www.miti.gov.my
‘“D
RIV
ING
Transform
ation, PO
WER
ING
Grow
th”
MITI’s ASEAN Portal can be accessed via http://aec2015.miti.gov.my/
ASEAN Index of Economic Freedom, 2015 (Monetary Freedom Component)
Scores between 0-100Monetary freedom combines a measure of price stability with an assessment of price controls. Both inflation and price controls distort market activity. Price stability without microeconomic intervention is the ideal state for the free market.The score for the monetary freedom component is based on two factors:1) The weighted average inflation rate for the most recent three years and2) Price controls.The Index relies on the following sources for data on monetary policy, in order of priority: International Monetary Fund, International Financial Statistics Online; World Economic Outlook, 2012; Economist Intelligence Unit, ViewsWire; and official government publications of each country.
Singapore83.7
1Malaysia
80.8
2Phillipines
78.8
3
Cambodia78.7
4Brunei
76.6
5Indonesia
74.9
6
Laos74.5
7Thailand
69.9
8Viet Nam
66.8
9Myanmar
66.1
10
Source: http://www.heritage.org/index/monetary-freedom
Inte
rnat
ional
Repo
rtIMF Projection
for Selected Emerging and Developing Asia Economies7.4
6.86.3
7.27.5 7.5
5.0 5.25.5
0.7
3.74.0
6.0
4.8 4.9
6.16.7
6.36.0 6.0 5.8
0.0
2.0
4.0
6.0
8.0
2014 2015* 2016*
Percent (%) Real GDP
China India Indonesia Thailand Malaysia Philippines Vietnam
2.0
1.21.5
6.0 6.15.7
6.46.8
5.8
1.9
0.3
2.4
3.12.7
3.0
4.2
2.1
2.8
4.1
2.5
3.2
0.0
2.0
4.0
6.0
8.0
2014 2015* 2016*
Percent (%) Consumer Prices
China India Indonesia Thailand Malaysia Philippines Vietnam
4.1 4.1 4.1
6.1 5.8 5.6
0.8 0.8 0.8
2.9 3.0 3.0
6.86.2 6.0
2.5 2.5 2.5
0.0
2.0
4.0
6.0
8.0
2014 2015* 2016*
UnemploymentPercent (%)
China Indonesia Thailand Malaysia Philippines Vietnam
Source: http://www.imf.org/external/pubs/ft/weo/2015/update/02/
Note: * Projections % refer to y-o-y growth
MITI Weekly Bulletin / www.miti.gov.my
“DR
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Visa Restrictions Index 2015Rank Score*1 Germany 173 UK 2 Findland 172 Sweden USA3 Denmark 171 France Italy Japan ROK Luxembourg Netherlands Norway 4 Belgium 170 Canada New Zealand Portugal Spain
Rank Score*5 Austria 169 Ireland Singapore Switzerland 6 Australia 1687 Greece 167 Malta8 Iceland 164 Czech Republic 9 Malaysia 163 Hungary 10 Slovakia 162 18 Argentina 150 Brunei
Note:Visa Restrictions Index is a global ranking of countries according to the travel freedom that their
citizens enjoy.
“DR
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DID YOU KNOW?
Source:https://www.henleyglobal.com/Note:* Number of countries and territories which can be entered without a visa by a citizen of the respective country
MITI Weekly Bulletin / www.miti.gov.my
Malaysian Ringgit Exchange Rate with Singapore Dollar and Thai Baht
Source : Bank Negara, Malaysia
“DR
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MITI Weekly Bulletin / www.miti.gov.my
9.00
9.50
10.00
10.50
11.00
11.50
12.00
12.50
2.202.302.402.502.602.702.802.903.003.10
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
2014 2015
SGD = RM 100 THB = RM
100 THB = RM 11.97
1 SGD = RM 3.05
16.0 16.1
13.0
13.5
14.0
14.5
15.0
15.5
16.0
16.5
12 Ju
n19
Jun
26 Ju
n3
Jul
10 Ju
l16
Jul
24 Ju
l31
Jul
7 Au
g14
Aug
21 A
ug28
Aug
4 Se
p11
Sep
18 S
ep25
Sep
2 Oc
t9
Oct
16 O
ct
US$/Oz Silver
1,096.0
1009.0
900.0
950.0
1,000.0
1,050.0
1,100.0
1,150.0
12 Ju
n19
Jun
26 Ju
n3
Jul
10 Ju
l16
Jul
24 Ju
l31
Jul
7 Au
g14
Aug
21 A
ug28
Aug
4 Se
p11
Sep
18 S
ep25
Sep
2 Oc
t9
Oct
16 O
ct
US$/Oz Platinum
Source : http://www.gold.org/investments/statistics/gold_price_chart/
http://online.wsj.com/mdc/public/page/2_3023-cashprices.html?mod=topnav_2_3023
Gold Prices, 12 June - 16 October 2015
Silver and Platinum Prices, 12 June - 16 October 2015
38.0
38.0
34.0
34.5
35.0
35.5
36.0
36.5
37.0
37.5
38.0
38.5
39.0
12 Ju
n
19 Ju
n
26 Ju
n
3 Ju
l
10 Ju
l
16 Ju
l
24 Ju
l
31 Ju
l
7 Au
g
14 A
ug
21 A
ug
28 A
ug
4 Se
p
11 S
ep
18 S
ep
25 S
ep
2 Oc
t
9 Oc
t
16 O
ct
US$/Gram Gold
Source: Ministry of International Trade and Industry, Malaysia
AJCEP: ASEAN-Japan Comprehensive Economic Partnership (Implemented since 1 February 2009) ACFTA: ASEAN-China Free Trade Agreement (Implemented since 1 July 2003) AKFTA: ASEAN-Korea Free Trade Agreement (Implemented since 1 July 2006)
AANZFTA: ASEAN-Australia-New Zealand Free Trade Agreement(Implemented since 1 January 2010)
AIFTA: ASEAN-India Free Trade Agreement (Implemented since 1 January 2010)
ATIGA: ASEAN Trade in Goods Agreement (Implemented since 1 May 2010)
MICECA: Malaysia-India Comprehensive Economic Cooperation Agreement (Implemented since 1 July 2011)MNZFTA: Malaysia-New Zealand Free Trade Agreement (Implemented since 1 August 2010)MCFTA: Malaysia-Chile Free Trade Agreement (Implemented since 25 February 2012)
MTFTA: Malaysia-Turkey Free Trade Agreement (Implemented since 1 August 2015)
MAFTA: Malaysia-Australia Free Trade Agreement (Implemented since 1 January 2013)
MPCEPA: Malaysia-Pakistan Closer Economic Partnership Agreement (Implemented since 1 January 2008)MJEPA: Malaysia-Japan Economic Partnership Agreement (Implemented since 13 July 2006)
23 Aug 30 Aug 6 Sep 13 Sep 20 Sep 27 Sep 4 Oct 11 OctAANZFTA 99 85 78 82 70 124 109 88AIFTA 153 209 188 156 522 153 252 182AJCEP 71 58 91 110 67 89 122 102
0
100
200
300
400
500
600
RM
mill
ion
23 Aug 30 Aug 6 Sep 13 Sep 20 Sep 27 Sep 4 Oct 11 OctATIGA 783 1,272 754 681 766 659 944 849ACFTA 982 557 435 902 341 480 901 645AKFTA 137 160 172 851 123 271 150 659
0
200
400
600
800
1,000
1,200
1,400
RM
mill
ion
23 Aug 30 Aug 6 Sep 13 Sep 20 Sep 27 Sep 4 Oct 11 OctMICECA 56.30 47.98 47.81 35.16 38.17 50.45 55.99 44.26MNZFTA 0.08 0.10 0.01 0.45 0.07 0.42 0.09 0.10MCFTA 12.65 24.53 43.73 55.92 6.16 20.31 11.12 30.17MAFTA 41.61 35.63 30.60 30.81 32.08 35.02 40.40 44.61
0
10
20
30
40
50
60
RM m
illio
n
23 Aug 2015 30 Aug 2015 6 Sep 2015 13 Sep 2015 20 Sep 2015 27 Sep 2015 4 Oct 2015 11 Oct 2015AANZFTA 1,040 916 727 868 674 1,017 1,026 875
AIFTA 724 780 577 614 574 597 776 643
AJCEP 211 210 195 236 167 197 241 250
ATIGA 4,422 4,358 4,506 4,346 3,955 4,037 4,837 4,481
ACFTA 1,505 1,461 1,242 1,307 1,021 1,035 1,582 1,552
AKFTA 912 744 755 825 609 755 778 837
MICECA 336 305 239 250 274 302 311 338
MNZFTA 3 3 2 21 2 7 6 10
MCFTA 110 71 65 77 42 57 77 71
MAFTA 449 436 318 414 368 390 417 481
MJEPA 815 966 771 732 754 824 927 679
MPCEPA 186 170 109 155 115 130 153 113
GSP 160 129 144 123 122 159 176 103
MTFTA 239 283 152 321 141 172 202 217
23 Aug 30 Aug 6 Sep 13 Sep 20 Sep 27 Sep 4 Oct 11 OctMJEPA 162 162 113 131 165 157 154 112MPCEPA 69 41 11 53 59 16 20 12GSP 27 21 32 23 48 39 32 44MTFTA 68 89 112 144 55 62 72 147
0
20
40
60
80
100
120
140
160
180
RM m
illio
n
Value of Preferential Certificates of Origin
Number and Value of Preferential Certificates of Origin (PCOs)Number of Certificates (Provisional data)
“DR
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MITI Weekly Bulletin / www.miti.gov.my
Notes: The preference giving countries under the GSP scheme are Cambodia, the Russian Federation, Japan, Switzerland, and Norway.
CommodityCrude
Petroleum (per bbl)
Crude Palm Oil (per MT)
Raw Sugar
(per MT)
Rubber SMR 20(per MT)
Cocoa SMC 2
(per MT)
Coal(per MT)
Scrap Iron HMS
(per MT)16 Oct 2015
(US$) 47.3 586.0 298.0 1,280.5 2,030.2 46.4 210 (high)195 (low)
% change* 4.8 0.3 2.0 0.1 0.2 0.2 unchangedunchanged
2014i 54.6 - 107.6 823.3 352.3 1,718.3 2,615.8 59.8 370.0
2013i 88.1 - 108.6 805.5 361.6 2,390.8 1,933.1 .. 485.6
“DR
IVIN
G T
ransformation, P
OW
ERIN
G G
rowth”
MITI Weekly Bulletin / www.miti.gov.my
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 n.a Not availble
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.
Highest and Lowest Prices, 2014/2015
Lowest (US$ per bbl)
Highest(US$ per bbl)
Crude Petroleum (16 Oct 2015)
US$47.3 per bbl
201413 June 2014: 107.6
201426 Dec 2014: 54.6
201529 May 2015: 60.3
201521 Aug 2015: 40.5
Lowest (US$ per MT)
Highest(US$ per MT)
Crude Palm Oil (16 Oct 2015)
US$586.0 per MT
201414 Mar 2014: 982.5
201426 Dec 2014: 664.0
201516 Jan 2015: 701.0
20154 Sep 2015: 500.5
Steel Bars(per MT)
RM1,500 - RM1,600
Average Domestic Prices, 9 Oct 2015
Billets(per MT)
RM1,300 - RM1,350
Sources: Ministry of International Trade and Industry Malaysia, Malaysian Palm Oil Board, Malaysian Rubber Board, Malaysian Cocoa Board, Malaysian Pepper Board, Malaysian Iron and Steel Industry Federation, Bloomberg and Czarnikow Group, World Bank.
Commodity Price Trends“D
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ation, PO
WER
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th”
MITI Weekly Bulletin / www.miti.gov.my
622.5
599.5
577.5
551.0
512.5
500.5 503.5
529.5
522.0
553.5
584.0
586.0
480
500
520
540
560
580
600
620
640
31 Jul 7 Aug 14 Aug 21 Aug 28 Aug 4 Sep 11 Sep 18 Sep 25 Sep 2 Oct 9 Oct 16 Oct
US$
/mt
Crude Palm Oil
2,183.8
2,231.5
2,058.0
2,094.5
2,115.5
2,047.3
2,033.5 2,021.6
2,044.3
2,009.8
1,910.4
2,034.5
2,030.2
1,700
1,800
1,900
2,000
2,100
2,200
2,300
24 Jul 31 Jul 7 Aug 14 Aug 21 Aug 28 Aug 4 Sep 11 Sep 18 Sep 25 Sep 2 Oct 9 Oct 16 Oct
US$
/mt
Cocoa
242.0
234.0228.5 228.0
240.0245.3
249.0254.0
245.8
274.8
292.3298.0
200
220
240
260
280
300
320
31 Jul 7 Aug 14 Aug 21 Aug 28 Aug 4 Sep 11 Sep 18 Sep 25 Sep 2 Oct 9 Oct 16 Oct
US$
/mt
Raw Sugar
1,396.0
1,343.5
1,341.5
1,302.5
1,285.0
1,216.5
1,281.5
1,250.51,262.5
1,243.5
1,279.5
1,280.5
1,100
1,150
1,200
1,250
1,300
1,350
1,400
1,450
31 Jul 7 Aug 14 Aug 21 Aug 28 Aug 4 Sep 11 Sep 18 Sep 25 Sep 2 Oct 9 Oct 16 Oct
US$
/mt
Rubber SMR 20
5,740
5,779 5,843
6,245
6,469 6,515
6,864
7,822
7,707
7,967
7,894 7,806
7,507
7,286 7,267
7,853
7,148 7,063
7,296
6,742
6,940
7,026
5,000
5,500
6,000
6,500
7,000
7,500
8,000
8,500
Jan
Feb
Mar Apr
May Jun Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar Apr
May Jun Jul
Aug
Sep
Oct
2014 2015
USD
/ to
nne
Black Pepper
* until 16 October 2015
48.147.1
43.9
42.5
40.5
45.246.1
44.6 44.745.7 45.5
49.6
47.3
54.6
52.2
48.6 49.0
45.5
50.1 49.6
48.147.5
48.6 48.1
52.7
50.5
35
40
45
50
55
60
24 Jul 31 Jul 7 Aug 14 Aug 21 Aug 28 Aug 4 Sep 11 Sep 18 Sep 25 Sep 2 Oct 9 Oct 16 Oct
US$
/bbl
Crude Petroleum
Crude Petroleum (WTI)/bbl Crude Petroleum (Brent)/bbl
Sources: Ministry of International Trade and Industry Malaysia, Malaysian Palm Oil Board, Malaysian Rubber Board, Malaysian Cocoa Board, Malaysian Pepper Board, Malaysian Iron and Steel Industry Federation, Bloomberg and Czarnikow Group, World Bank.
Commodity Price Trends“D
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ation, PO
WER
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Grow
th”
MITI Weekly Bulletin / www.miti.gov.my
1,727
1,695 1,705
1,811
1,751
1,839
1,948
2,030
1,990
1,946
2,056
1,909
1,815
1,818
1,774
1,819
1,804
1,688
1,640
1,548
1,590
1,500
1,600
1,700
1,800
1,900
2,000
2,100
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
2014 2015
US$
/ to
nne
Aluminium
14,101 14,204
15,678
17,374
19,401
18,629
19,118
18,600 18,035
15,812 15,807
15,962
14,849
14,574
13,756
12,831
13,511
12,825
11,413
10,386 9,938
9,000
11,000
13,000
15,000
17,000
19,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
2014 2015
US$
/ to
nne
Nickel
270.0
280.0 280.0 280.0
270.0
260.0
250.0 250.0
240.0
230.0 230.0
210.0
250.0
260.0 260.0 260.0
250.0
230.0 230.0 230.0
220.0
210.0 210.0
195.0
180
200
220
240
260
280
300
15 May 29 May 5 Jun 19 Jun 3 Jul 24 Jul 7 Aug 14 Aug 28 Aug 11 Sep 25 Sep 9 Oct
US$
/mt
Scrap Iron
Scrap Iron/MT (High) Scrap Iron/MT(Low)
7,291
7,149
6,650 6,674
6,891
6,821
7,113 7,002
6,872
6,737
6,713
6,446
5,831
5,729
5,940 6,042
6,295
5,833
5,457
5,127 5,217
5,000
5,200
5,400
5,600
5,800
6,000
6,200
6,400
6,600
6,800
7,000
7,200
7,400
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
2014 2015
US$
/ to
nne
Copper
47.5
47.3 47.3 47.3
47.2
47.3 47.3
46.9 46.9
46.6
46.446.4
45.6
45.8
46.0
46.2
46.4
46.6
46.8
47.0
47.2
47.4
47.6
47.8
31 Jul 7 Aug 14 Aug 21 Aug 28 Aug 4 Sep 11 Sep 18 Sep 25 Sep 2 Oct 9 Oct 16 Oct
US$
/mt
Coal
128.1
121.4
111.8
114.6
100.6
92.7
96.192.6
82.4
81.0
74.0
68.0
68.0
63.0
58.0
52.0
60.063.0
52.0
56.0 57.0
40.0
50.0
60.0
70.0
80.0
90.0
100.0
110.0
120.0
130.0
140.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
2014 2015
US$/
dmtu
Iron Ore
The Dock Cleaner’s Guide to Success
The story of Abdul Malik Bin Samat is a classic entrepreneurial success story. Years of timeless effort and a burning entrepreneurial spirit have rewarded Malik well. He is the proud owner of the biggest bitumen depot in north of Peninsular Malaysia, a facility with a built-up holding capacity of 12,000 metric tons. What is the story behind his success?
When he started out in his career Malik was working as an ordinary dock cleaner. Day in and day out, he was only cleaning up the mess left behind by the oil tankers. Malik was grateful for the decent money he was earning from his humble job but he had bigger ambitions for his life.
He was able to see himself doing well in the industry, and thus he made plans to start a small business to trade in petroleum products. In 1999, with an initial capital of RM50,000 and armed with a sharp business mind, Malik started business with a humble workforce of 5 employees.
He supplied diesel and fuel oil to the industrial regions in northern Malaysia. Initially, he could only afford to rent diesel lorries to transport products and support his business growth. He quickly learned how to compete and succeed. Malik got his first big breakthrough when he won a big contract to supply diesel and fuel oil to a major multi-national company.
As his company grew, Malik started to explore financing possibilities. As a small company Malik found it very difficult to even get an appointment with the commercial bankers. However Malik found a willing audience with SME Bank and was pleasantly surprised that the bank even took the initiative to help him with technical and financial consultancy. In 2009, Malik was
provided with the financing that he needed - a whopping RM17 million under Pembiayaan Bai’Istisna (BIS), followed by another RM 9 million under Bai’Bithaman Ajil (BBA). With this much needed injection of capital and expertise, Malik’s company was able to achieve remarkable growth.
The shining jewel of Malik’s crown is his multi-million ringgit bitumen depot which he built from reclaiming a piece of swampland near the Butterworth jetty. It truly is a testament to his impressive entrpreneurial spirit and determination. The depot is strategically located with access to sea and air routes connecting it to major ports and cities around the globe.
With a workforce of almost 100 multi-talented professionals, Innate Synergy Sdn Bhd stands as a major supplier of petroleum products such as bitumen, diesel, MFO, LFO, LPG and lubricants. The company now owns a fleet of 30 owned and chartered Bitumen tankers and 5 ADO tankers. Next on Malik’s list of things to do is to own his very own sea-going oil tanker. We look forward to seeing this dynamic entrepreneur chart his spectacular course!
- See more at: http://www.yoursuccessourstory.com/story02.html#page=page-1
“DR
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MITI Weekly Bulletin / www.miti.gov.my
Innate Synergy Sdn BhdAddress: 23, Lebuh Nipah, 11900, Pulau PinangT e l : + 6 0 4 - 6 4 5 7 2 9 3
MITI Programme Perhimpunan Bulanan MITI & Agensi
20 Oktober 2015
“DR
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MITI Weekly Bulletin / www.miti.gov.my
Program #TANYA GOMENKuala Lumpue Sentral
16 Oktober 2015
“DR
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G T
ransformation, P
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G G
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MITI Weekly Bulletin / www.miti.gov.my
MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY (MITI)Trans-Pacific Partnership Ministers’ Statement
October 5, 2015
We, the trade ministers of Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States, and Vietnam, are pleased to announce that we have successfully concluded the Trans-Pacific Partnership. After more than five years of intensive negotiations, we have come to an agreement that will support jobs, drive sustainable growth, foster inclusive development, and promote innovation across the Asia-Pacific region. Most importantly, the agreement achieves the goal we set forth of an ambitious, comprehensive, high standard and balanced agreement that will benefit our nation’s citizens.
TPP brings higher standards to nearly 40 percent of the global economy. In addition to liberalizing trade and investment between us, the agreement addresses the challenges our stakeholders face in the 21st century, while taking into account the diversity of our levels of development. We expect this historic agreement to promote economic growth, support higher-paying jobs; enhance innovation, productivity and competitiveness; raise living standards; reduce poverty in our countries; and to promote transparency, good governance, and strong labor and environmental protections.
To formalize the outcomes of the agreement, negotiators will continue technical work to prepare a complete text for public release, including the legal review, translation, and drafting and verification of the text. We look forward to engaging with stakeholders on the specific features of this agreement and undergoing the domestic processes to put the agreement in place.
Announcement
MITI Weekly Bulletin / www.miti.gov.my
“DR
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MITI Weekly Bulletin / www.miti.gov.my
More infomation on World Statistics Day’s Background can be accessed via https://www.statistics.gov.my/index.php?r=column/cone&menu_id=ait1MUIrazlDTVM3cU1uWWI2aHlXZz09
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