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Mitiin the News MITI in the News Malaysia to Lead Conversations on ASEAN Economic Integration at WEF 2015 The delegation also includes several “ prominent Malaysian business leaders as DRIVING well as heads of investment-related agencies. One of the objectives of Malaysia’s participation at the forum is to promote Malaysia as the premier Transformation, investment location and tourist destination in Asia. It also aimed at promoting Kuala Lumpur as the premier location for multinational companies regional headquarters; to showcase Malaysia’s economic transformation success, POWERING Malaysia’s participation at this year and to highlight Malaysia’s role as Chair of ASEAN, World Economic Forum (WEF) reflects specifically the emphasis on a people-centered ASEAN. its commitment to shape the global trade agenda, and lead conversations The Prime Minister will be participating in the following on ASEAN economic integration, WEF sessions, namely the ASEAN Regional Business Growth” International Trade and Industry Minister Council; the Informal Gathering of World Economic Dato’ Sri Mustapa Mohamed said. Leaders (IGWEL): ‘Defining the Imperatives for 2015’; and the ASEAN Leader session-Channel NewsAsia-TV “This is an important year for Debate: “Creating the ASEAN Economic Community”. Malaysia and as Chair of ASEAN, we must be in the forefront in Najib will be meeting several heads of state and chief ensuring the realisation of the ASEAN executive officers of prominent global corporations Economic Community (AEC). with keen investment interests in Malaysia. “We must take the opportunity to Apart from the meetings and speaking engagements, the engage the international business Prime Minister and the ministers will also host roundtables community and civil society and lead by with business leaders and a special event to promote Malaysia. example,” he said in a statement Friday. The WEF is an independent global forum for engagement Prime Minister Datuk Seri Najib Tun and dialogue involving stakeholders from business and Razak will be attending the two-day political fraternities, academia and other societal leaders to forum from Jan 23 in Davos, Switzerland. shape opinions on the global, regional and sectoral agenda. Najib, who is also Finance Minister, The forum, under the theme “The New Global will be accompanied by Mustapa Context”, will discuss and address, among and Minister in the Prime Minister’s others, industry and business related issues in Department Datuk Seri Wahid Omar. the context of current global economic scenario. Source: Bernama, 16 January 2015 MITI Weekly Bulletin / www.miti.gov.my 01 Mustapa Meets Counterpart In India International Trade and Industry Minister Dato’ Sri Mustapa Mohamed met Indian Commerce and Industry Minister Nirmala Sitharaman and discussed the strong bilateral ties between the two nations. Among others, India requested Malaysia, which is the current chair of ASEAN, to take up a more proactive role in the negotiations for the Regional Comprehensive Economic Partnership (RCEP) trade pact. Mustapa said Malaysia considered the conclusion of the RCEP negotiations as one of the deliverables during Putrajaya’s chairmanship of the 10-member grouping. There are ample political will to conclude the negotiations, he said during the 15-minutes meeting held on the sidelines of the Confederation of Indian Industry Partnership Summit 2015 here today. RCEP is a proposed free trade agreement, which involves the 10 members of ASEAN and six other nations namely Australia, China, India, Japan, South Korea and New Zealand. The negotiations for RCEP, which involves 3 billion people and a combined Gross Domestic Product of US$17 trillion, were formally launched in November 2012 at the ASEAN Summit in Cambodia. Mustapa was also hopeful that Indian Prime Minister Narendra Modi will visit Malaysia this year. Source: Bernama, 16 January 2015 Malaysian Businessmen Told to Gear Up for ASEAN Competition be achieved by the end of this year. The AEC will “ be announced in November this year during the DRIVING 27th ASEAN Summit. Ravidran noted that the local logistics sector could benefit significantly from the AEC. “As at 2013, intra-ASEAN trade is 24% Transformation, but logistics is an important component of trade. “If you want to grow, you have to ensure that there’s more trade taking place and logistics has to be efficient.” He added that the long term target was to Local companies, both big and small, POWERING need to “up their game” and gear up for grow intra-ASEAN trade to 34%. “Logistics is one competition with the upcoming ASEAN of the 12 priority integration sectors in ASEAN. You Economic Community (AEC) this year. have to move cargo efficiently and that saves cost for businesses. “So logistics shall and will remain “With the market liberalisation, we’re talking an important component of international trade.” Growth” about an economic community,” said International Trade and Industry Ministry ASEAN Economic The upcoming AEC is expected to Cooperation Division, Senior Director P. promote the harmonisation of rules Ravidran at a media roundtable yesterday on and ease trading within the region. the impact of the ASEAN Free Trade Area on the commercial vehicle and logistics industry. “We need harmonisation of rules. We can’t have 10 different standards,” he said. “If I were a company “The Government has put in place and I had to manufacture a product conforming movements to remove barriers to trade, to 10 different standards, it’s not economical.” so it’s up to the private sector to take advantage and adjust their business models.” The roundtable was organised by Asian Trucker magazine and featured speakers from the He added that local companies could not just rely logistics industry. Asian Trucker magazine on the domestic market for growth. “You have to editor Stefan Pertz noted that the Malaysian export and with the removal of barriers to trade, Government had an important role to play it’s not just for the big companies to benefit, when it came to providing clear guidelines on but also small and medium-sized enterprises.” cross border land transportation to the industry. According to reports, the 10-member ASEAN has “This is to ensure there will be no confusion completed over 83% or 366 out of 436 economic and hiccups for companies which are integration measures under the AEC. About operating in their respective countries when 90% of the integration measures are expected to goods are transported across borders.” Source: Bernama, 15 January 2015 MITI Weekly Bulletin / www.miti.gov.my 02 Malaysia Manufacturing Sector Performance Manufacturing Indicators, Jan - Nov 2014 Exports Imports IPI* Sales Employment Salaries & Wages RM535.1 bil. RM538.3 bil. 122.3 RM600.1 bil. 1,030,383 RM31.3 bil. persons 7.3% 5.4% 5.9% 6.1% 1.5% 6.2% Monthly Trade Value 60 55.3 52.1 51.9 50.8 50.5 50.4 49.9 49.8 49.8 49.7 49.6 49.6 49.5 49.4 49.2 49.2 49.1 49.1 48.6 48.4 48.3 48.3 48.2 48.1 48.0 47.9 47.9 47.5 47.4 47.0 46.8 46.6 46.2 45.9 45.6 45.0 50 45.0 44.4 44.3 43.4 43.4 42.8 42.2 41.6 38.9 40 38.4 30 RM billion RM 20 10 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov “ 2013 2014 DRIVING Exports Imports Monthly Employment and Salaries & Wages Transformation, Transformation, 1,055 3.03 3.10 1,050 3.00 2.86 2.90 1,045 2.86 2.86 2.87 2.85 2.90 2.82 2.82 2.84 2.84 1,040 2.78 2.77 2.74 2.80 2.69 1,035 2.68 2.68 POWERING 2.65 2.67 2.66 2.72 2.70 1,030 2.62 2.60 1,025 2.58 1,020 2.50 Employment ('000 persons) ('000 Employment Salaries & Wages (RM billion) (RM Wages & Salaries 1,015 2.40 Growth” 1,023 1,016 1,025 1,024 1,026 1,022 1,018 1,016 1,015 1,014 1,015 1,018 1,029 1,021 1,025 1,027 1,029 1,033 1,031 1,033 1,031 1,029 1,030 1,010 2.30 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov 2013 2014 Employment Salaries & Wages 58 Monthly Sales Monthly IPI 55.6 55.9 55.8 55.5 135 56 55.1 54.8 55.1 129.0 126.1 130 125.9 54.3 125.0 124.3 54.0 124.1 123.4 53.8 123.4 53.2 53.5 53.3 53.3 122.1 53.1 53.1 121.0 53.0 125 120.4 120.3 54 119.9 119.0 115.9 120 115.3 51.4 115.1 114.9 51.3 114.8 52 50.3 114.1 111.1 50.0 115 110.6 49.4 50 110 RM billion 48 105 101.1 46.1 100 46 95 44 90 Industrial Production Index (2010=100) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Jul Jul Jan Jan Jun Jun Oct Oct Apr Apr Feb Feb Sep Sep Dec Aug Aug Nov Nov Mar Mar May May 2013 2014 2013 2014 Note: *IPI = Industrial Production Index Source: Malaysia Department of Statistics % refers to y-o-y growth MITI Weekly Bulletin / www.miti.gov.my 03 Trade of Manufacturing Products, Jan-Nov 2014 Export in Manufacturing Import in Manufacturing 2013: RM548.1 billion 2013: RM559.8 billion Jan-Nov 2014: RM535.1 billion Jan-Nov 2014: RM538.3 billion “ Select Indicators in Manufacturing Sector by Major Industries, DRIVING Jan-Nov 2014 Employment IPI Transformation, Employment (persons) IPI (2010=100) 313,426 113.4 Chemicals E&E 317,434 115.0 125,584 118.4 E&E Chemicals 128,721 132.6 103,337 124.0 Metal POWERING Wood And Wood Products 101,905 127.8 86,855 113.4 Palm Oil Metal 86,565 122.0 74,138 103.9 Rubber Products 76,969 Wood And Wood Products 108.8 74,726 129.7 Growth” Transport Equipment 74,852 Transport Equipment 148.6 Processed Food And 59,029 112.9 Processed Food And Beverages Beverages 59,478 121.9 41,396 Non-Metallic Minerals Jan-Nov 2013 114.2 Products 43,254 Non-Metallic Minerals Products 121.8 Jan-Nov 2014 38,552 123.8 Textiles & Apparel 41,686 Rubber Products 122.3 22,454 109.9 Machinery & Equipment 22,566 Machinery & Equipment 115.9 Jan-Nov 2013 Jan-Nov 2014 Sales Source: Malaysia Department of Statistics MITI Weekly Bulletin / www.miti.gov.my 04 “ASEAN and You” Save the Date..
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