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MITI in the news

The Pertubuhan Usahawan Generasi Muda Berjaya Malaysia (GMB Malaysia) is working with a number of agencies under the Ministry of International Trade and Industry (MITI) and Ministry of Science, Technology and Innovation to encourage the participation of youth in business.

MITI Minister Dato’ Sri Mustapa Mohamed said among the agencies cooperating with GMB Malaysia is SME Corporation Malaysia (SME Corp), the Malaysia Automotive Institute (MAI) and the Malaysian Biotechnology Corporation Sdn Bhd (Biotech Corp).

GMB Malaysia, Government Agencies Cooperate To Encourage Youth Participation In Business

“GMB Malaysia and Biotech Corp will cooperate to encourage the participation of Bumiputeras in the field of biotechnology,” he added. He told reporters this after witnessing the exchange of a document on the cooperation agreement between GMB Malaysia and Biotech Corp here today.Mustapa said GMB Malaysia had previously worked with MAI through the Program Quickwins Kongres Muda.

He said through the programme, MAI had identified 140 motorcycle workshops in Perak, Sabah and Kelantan to undergo a modernisation process.“The aim is to see the business prosper with an improved profit margin. It involves undertaking a training, management and procurement programme,” he added. According to Mustapa, GMB Malaysia will also cooperate with SME Corp to organise the Program Tunas Usahawan Belia Bumiputera (Tube) to equip the young with the skills via business knowledge.He said the pioneer project, involving an allocation of RM10 million, is expected to be implemented in November at the National Service Camp with a target of 500 participants.

“The programme is over two weeks. The first week focuses on building self-confidence and in the second, the principles of business. We will also focus on those with certificates from places such as Giat Mara and those with skills,” he added. He said the ministry is aiming for at least 90 per cent of the participants to successfully complete the programme to be helmed by SME Corp.

Source : Bernama,08 July 2014

No. ISSN: 2180-0448

MITI Weekly Bulletin/ www.miti.gov.my

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OPR Increase Will Not Impact Investments MuchThe increase in the overnight policy rate (OPR) announced on Thursday will not impact much investments or investor sentiment and confidence, says International Trade and Industry Minister, Dato’ Sri Mustapa Mohamed.

“Malaysia will continue to be an attractive destination for investments and attract not only those from overseas but also the domestic front. The OPR increase is minimal and it has to do with the bigger picture in terms of the economic position, such as the slight increase in the inflation rate and domestic debt,” he told reporters at the launch of his ministry’s 2013 report here today.

Bank Negara Malaysia announced a 25 basis points increase in the OPR to 3.25 per cent. Mustapa said there is a need to make some adjustments as concerns have been expressed of late on the size of the household debt and believed this had been taken into consideration.

“This move (OPR increase) will provide some cushioning towards the increase in household debt. There might be a small impact on domestic consumption. But in my view, it is not going to be much. In the meantime, Malaysians need to be a little cautious in terms of consumption,” he added.

The Ministry of International Trade and Industry (MITI) is formulating guidelines and key performance indicators (KPI) for the Bumiputera Vendor Development Programme (VDP).

Its Minister Dato’ Sri Mustapa Mohamed said towards this end, meetings are being held with the seven anchor companies implementing the programme.“Once completed, we will table the KPI to the Bumiputera Economic Council and with everything in place, the anchor companies will be informed,” he added. Mustapa said Miti was playing the role of a central monitoring unit to implement the VDP through two committees, the VDP Consultation Committee chaired by him and the VDP Committee to be headed by the MITI secretary general or deputy.

He said the functions of the two committees includes the implementation and monitoring of the KPI of the chief executive officers of government-linked companies together with Khazanah Nasional Bhd.The committees will also serve to draw up policies, strategies and direction for the implementation of the VDP in the manufacturing and services sectors to incorporate aspects of vendor development, financing and training.

According to Mustapa, the committees will also take on the role of monitoring the progress of vendors developed by the anchor companies and consider proposals to resolve issues related to the VDP implementation between the two groups and others concerned. He said at present, the seven anchor companies identified had a structured VDP with policies, a division and staff specially to implement it.The companies are Petronas, Telekom Malaysia, Tenaga Nasional Bhd, Proton, Boustead Naval Shipyard Bhd, Keretapi Tanah Melayu Bhd and Chemical Company of Malaysia Bhd.

Mustapa said as of last year, the seven had succeeded in providing opportunities to 1,643 Bumiputera vendor companies to enhance capacity and competitiveness in supplying products and services. The focus of the VDP is to assist in the development of Bumiputera entrepreneurs, particularly in small medium enterprises to become manufacturers and suppliers of components/services that are competitive for both the domestic and global markets involving GLCs, government-linked investment companies, multinationals and local corporations.

Meanwhile, commenting on Malaysia’s move to 12th spot from 15th in the world ranking of competitive economies by the Institute for Management Development’s (IMD) World Competitiveness Yearbook 2014, Mustapa said it would have a positive impact on the country. “In reality, investors see the ranking as their yardstick before making any decision,” he said.

MITI Formulating Guidelines And KPI For Bumiputera Vendor Development Programme

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Source : Department of Statistics, Malaysia

Industrial Production Index (IPI), January-May 2014

MALAYSIA

Source : Department of Statistics, MalaysiaNote: Figures in parentheses refer to year-on-year growth

Monthly IPI by Sector, January 2013-May 2014

IPI112.6 (5.1%)

Manufacturing Index118.6 (6.7%)

Electricity Index116.2 (4.3%)

Mining Index98.3 (0.9%)

110.6

124.1

111.6 122.9

101.3

99.6

60

80

100

120

140

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

2013 2014

Indu

stri

al P

rodu

ctio

n In

dex

(IPI)

Manufacturing Electricity Mining

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MITI Weekly Bulletin/www.miti.gov.my

Manufacturing Sector Performance, January 2013-May 2014

2,654,6802,817,152

900,000

950,000

1,000,000

1,050,000

1,100,000

1,150,000

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

3,500,000


2013 2014

No. of employees

Sala

ries

& W

ages

(RM

'000

)

No. of employees Salaries & Wages paid

50.053.1

57.0

64.9

40

45

50

55

60

65

70


2013 2014

RM b

illio

n

Sales Exports

Manufacturing Sales by Major Industry, January-May (2013/2014)

Source : Department of Statistics, MalaysiaNote: * = year on year growth

0

10

20

30

40

50

60

70

80

90

100

Chemicals E&E Metal TransportEquipment

Processed Food &Beverages

92.5

60.4

19.212.6 13.4

96.9

77.5

18.815.1 14.0

RM m

illion

2013 (Jan-May) 2014 (Jan-May)

4.8%*

28.3%

2.1%19.7% 4.5%


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Top Ten Earning Jobs for Fresh Graduates in Malaysia 2014

Source: JobStreet.com

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

Pharmacy Sales - FinancialServices

Sales -Engineering / IT

Aviation Sales -Corporate

3,640

3,200 3,054

2,719 2,612 2,600 2,533 2,475 2,456 2,452

Ave

rage

Sal

ary

per

Mon

th (R

M)

Ph

arm

acy

Cor

por

ate

Stra

teg

y

Sale

s-F

inan

cial

Ser

vice

s

Doc

tor

Sale

s-E

ng

inee

rin

g /

IT

Geo

ph

ysic

s

Avi

atio

n

Act

uar

ialS

cien

ce

Sale

s-C

orp

orat

e

IT-S

oftw

are

Malaysia’s Ten Highest Paying Jobs, 2014

COO

PilotRM35,000/mth

SeniorAccountant

RM30,000/mth

Materials Engineer

RM28,000/mth

Gov. Affairs Director

RM27,000/mth

Team Leader*RM26,500/mth

Recruiting Manager

RM25,500/mth

Regional Manager in Banking

RM25,000/mth

Chief Operating Officer (COO)RM24,722/mth

Regional Director

RM24,583/mth

GeotechnicalEngineer

RM22,833/mth

Sources: salarayexplorer.com and database of salary information gathered from requirement agencies, companies and employees.Note: * = Team Leader in oil & gas, energy or mining industry.


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Source : http://www.gold.org/investments/statistics/gold_price_chart/

Source : Bank Negara, Malaysia

Silver

Gold

US$/MT

US$/grammeUS$/oz

Source : http://econ.worldbank.org-

Malaysian Ringgit Exchange Rate with Thai Bath and VietNamese Dong, January 2013-June 2014

Gold and Silver Prices, 10 January 2013-11 July 2014

Aluminium, Nickel and Cooper Prices, January 2013-June 2014

0

5000

10000

15000

20000

25000

Jan 13 Feb 13 Mar 13 Apr 13 May 13 Jun 13 Jul 13 Aug 13 Sep 13 Oct 13 Nov 13 Dec 13 Jan 14 Feb 14 Mar 14 Apr 14 May 14 Jun 14

Aluminum Copper Nickel

US$18,629

US$6,821

US$1,839

0.0135

0.0140

0.0145

0.0150

0.0155

0.0160

9.4

9.6

9.8

10.0

10.2

10.4

10.6

Jan Feb Mar Apr May June July Aug Sep Oct Nov Dec Jan Feb Mar Apr May June

2013 2014

Thai Baht (BHT100) VietNamese Dong (VND100)

100 VND = RM0.015

100 BHT = RM 9.90

18

20

22

24

26

28

30

35

36

37

38

39

40

41

42

43

44

45

10 J

an

17 J

an

24 J

an

30 J

an

7 Fe

b

14 F

eb

21 F

eb

28 F

eb

7 M

ar

14 M

ar

21 M

ar

28 M

ar

4 Ap

r

11 A

pr

18 A

pr

25 A

pr

2 M

ay

9 M

ay

16 M

ay

23

May

30

May

6 J

un

13

Jun

20

Jun

27

Jun

4 J

ul

11

Jul


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

Number of CertificatesValue of Preferential Certificates of Origin

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)

Value of Preferential Certificates of Origin

Number of Certificates

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)

Number of Certificates

MPCEPA: Malaysia-Pakistan Closer Economic Partnership Agreement (Implemented since 1 January 2008)



MAFTA: Malaysia-Australia Free Trade Agreement (Implemented since 1 January 2013)

AANZFTA AIFTA AJCEP ATIGA ACFTA AKFTA

25 May 2014 845 647 217 4,319 1,563 815

02 Jun 2014 815 590 203 4,854 1,235 800

08 Jun 2014 785 539 236 3,870 1358 746

15 Jun 2014 787 505 243 4,068 1,266 840

22 Jun 2014 871 650 196 4,585 1,293 906

29 Jun 2014 683 476 220 4,344 1,127 713

06 Jul 2014 392 276 104 2,135 733 318

13 Jul 2014 780 552 199 4,444 1,089 806

MICECA MNZFTA MCFTA MAFTA

25 May 2014 262 13 89 34402 Jun 2014 276 2 49 37108 Jun 2014 279 11 76 37215 Jun 2014 252 0 35 29722 Jun 2014 243 6 321 32129 Jun 2014 296 3 60 29206 Jul 2014 133 3 32 15813 Jul 2014 281 6 65 376

MJEPA MPCEPA GSP

25 May 2014 772 207 1362 Jun 2014 1,003 144 1698 Jun 2014 800 167 13215 Jun 2014 837 125 10922 Jun 2014 791 136 14429 Jun 2014 752 154 15906 Jul 2014 409 54 5513 Jul 2014 843 133 130

MJEPA: Malaysia-Japan Economic Partnership Agreement (Implemented since 13 July 2006)

Source: Ministry of International Trade and Industry, Malaysia

Number and Value of Preferential Certificates of Origin (PCOs)

25 May 2 Jun 8 Jun 15 Jun 22 Jun 29 Jun 6 Jul 13 JulAANZFTA 86 78 74 69 83 57 48 74AIFTA 723 162 1,144 300 494 80 62 142AJCEP 75 99 78 77 59 69 48 81

0

200

400

600

800

1,000

1,200

1,400

RM

mill

ion

25 May 2 Jun 8 Jun 15 Jun 22 Jun 29 Jun 6 Jul 13 JulATIGA 628 1,081 1,380 9,322 9,219 9,259 302 796ACFTA 768 357 625 272 649 520 437 406AKFTA 344 175 104 1,017 522 151 58 143

0

2,000

4,000

6,000

8,000

10,000

12,000

RM m

iliio

n

25 May 2 Jun 8 Jun 15 Jun 22 Jun 29 Jun 6 Jul 13 JulMICECA 67.40 45.95 35.47 50.72 30.03 49.21 22.05 45.95MNZFTA 0.20 0.07 0.16 0.00 0.40 0.14 0.06 0.11MCFTA 13.42 7.97 8.24 5.64 22.17 7.23 7.80 12.76MAFTA 25.80 29.93 25.01 28.40 22.17 27.34 11.60 24.25

0

10

20

30

40

50

60

70

80

RM

mill

ion

25 May 2 Jun 8 Jun 15 Jun 22 Jun 29 Jun 6 Jul 13 JulMJEPA 133 132 170 109 136 123 79 127MPCEPA 74 46 67 21 28 50 8 21GSP 28 19 17 17 19 27 14 25

0

50

100

150

200

250

RM m

illio

n


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Commodity 11 July 2014 (US$)

% Change* 2013i 2012i 2011i

Crude Petroleum (per bbl) 102.8 1.7 88.1-108.6 77.7-109.5 80.3-112.7

Crude Palm Oil (per MT) 863.7 0.4 805.5 1,000.4 1,124.0

Raw Sugar (per MT) 367.5 1.1 361.6 473.8 647.0

Rubber SMR 20 (per MT) 1,687.0 3.4 2,390.8 952.5 1,348.3

Cocoa SMC 2 (per MT) 2,720.9 0.6 1,933.1 2,128.9 2,644.8

Coal (per MT) 60.2 2.1

Scrap Iron HMS (per MT) 380.0 (High) 370.0 (Low)

unchangedunchanged 485.6 444.7 491.0

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 (11 July 2014)

US$102.8 per bbl Crude Palm Oil(11 July 2014)

US$863.7 per MT

Lowest (US$ per bbl)

10 Jan 2014: 92.319 Apr 2013: 88.1

Highest

(US$ per bbl) 13 Jun 2014: 107.6

Sep 2013: 110.2

Highest

(US$ per MT)14 Mar 2014: 982.515 Nov 2013: 925.0

Lowest (US$ per MT)

13 Jun 2014: 848.8 4 Jan 2013: 800.0

11 July 2014 domestic prices for :1.Billets (per MT) : RM1,700 – RM1,750 2.Steel bars (per MT) : RM1,970 - RM2,120

Commodity Price Trends, 11 April-11 July 2014

Highest & Lowest Prices, 2013/2014

Weekly Commodity Prices

11 Apr 18 Apr 25 Apr 2 May 9 May 16 May 23 May 30 May 6 Jun 13 Jun 20 Jun 27 Jun 4 Jul 11 Jul Crude Petroleum/bbl 104.1 104.2 101.9 100.2 100.3 101.6 103.8 103.4 102.4 107.6 106.6 106.7 104.6 102.8 Rubber SMR 20/MT 1,806.0 1,808.0 1,715.0 1,739.0 1,674.0 1,723.5 1,725.0 1,695.0 1,660.5 1,685.0 1,736.0 1,792.5 1,747.0 1,687.0 Cocoa SMC 2/MT 2,587.4 2,586.0 2,608.6 2,517.9 2,516.3 2,517.9 2,643.1 2,629.9 2,690.6 2,675.4 2,690.6 2,736.1 2,720.9 2,705.7 Crude Palm Oil/MT 913.5 900.5 915.8 913.6 913.6 898.5 906.0 893.0 856.3 848.8 849.5 868.0 867.0 863.7 Scrap Iron/MT 395.0 395.0 395.0 395.0 395.0 395.0 380.0 380.0 380.0 380.0 380.0 380.0 380.0 380.0 Raw Sugar/MT 373.8 368.5 385.3 382.3 368.8 394.5 384.0 364.8 364.5 365.3 381.0 390.5 371.5 367.5 Iron Ore/MT 150.0 150.0 150.0 150.0 150.0 150.0 140.0 140.0 140.0 140.0 140.0 140.0 140.0 140.0 Coal/MT 66.2 67.8 67.2 67.2 70.2 69.3 69.3 62.0 60.9 60.4 59.5 61.5 61.5 60.2

Crude Petroleum

Crude Palm Oil

Rubber SMR 20

Cocoa SMC 2

Scrap Iron

Raw Sugar

Coal0.0

500.0

1,000.0

1,500.0

2,000.0

2,500.0

3,000.0

96

98

100

102

104

106

108

110US$/M

T

US$/

bbl

Iron Ore

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‘Thinking Globally, Prospering Regionally’PART 2

ASEANEconomic Community

Competitive Economic RegionIn creating a competitive economic region, the AEC seeks to foster a culture of fair competition, including institutions and laws that underpin the effort. This includes protection for consumers region-wide and strong guarantees for intellectual property rights.

Competition policy and law will play an increasingly important role as strong economies are founded upon healthy and effective competition. By creating a level playing field for businesses operating in the region, competition policy and law encourages greater innovation, productivity and efficiency, bringing about benefits for businesses and consumers alike.

ASEAN Member States have been intensifying their efforts to introduce competition policy and law by 2015. Various outreach activities have also been carried out to educate the general public on the importance of competition policy and how it could possibly affect them.

A competitive economic region also requires support for physical infrastructure like highways, airports and rail links, power grids and gas pipelines. The designated roads and highways of the Member States forming the ASEAN Highway Network (AHN) are being physically connected, although the quality of some routes needs to be improved up to agreed standards. The ASEAN Highway Network, including its priority “Transit Transport Routes (TTR),” is a vital infrastructure and logistics component which supports trade facilitation, investment opportunities and tourism. Road and numbering signs along the TTR in the ASEAN mainland have already been installed in order to enhance safety and provide greater comfort for road users.

The ASEAN Power Grid (APG) is aimed at building a regional power transmission network linking all Member States. Six out of the planned 16 cross-border interconnections have already been put into operation. In addition, the Trans-ASEAN Gas Pipeline (TAGP) aims to connect the gas pipeline infrastructure of ASEAN Member States and enable gas (including liquefied natural gas) to be transported across Member States’ borders. There are currently 11 bilateral pipeline connections with a total length of 3,020 km. This allows the connected Member States to enhance cross-border electricity trade in order to meet growing demands for electricity. The project also provides private sector opportunities in investment, financing and technology transfer. All the agreements and protocols on the liberalisation of air services under the ASEAN Open Skies Policy for both cargo and passenger services have been concluded and implemented by most Member States. This has substantially enhanced air connectivity in the region with increased air capacity and created more opportunities for a greater number of people to fly to neighbouring countries.Another sector of ASEAN infrastructure that is undergoing continuous enhancement is telecommunication. ASEAN telecommunication regulators in 2012 announced the intention to reduce international mobile roaming rates within ASEAN. Malaysia and Singapore were the first Member States to make a bilateral agreement to reduce the mobile roaming rates charged by their respective telecommunication providers. By mid-2013, the rates were half compared to the rates in 2011.

MITI Weekly Bulletin | www.miti.gov.my

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MITI Weekly Bulletin | www.miti.gov.my

Equitable Economic Development A key component of the AEC is to enhance the competitiveness and expansion of small and medium enterprises in ASEAN through flagship projects under the Strategic Action Plan for ASEAN SME Development (2010-2015). Thirty business incubator and innovation centres make up the ASEAN Business Incubator Network (ABINet) to promote business matching and development. The ASEAN SME Guidebook towards the AEC 2015 has been developed to enhance awareness of the financial facilities and market opportunities for SMEs available in ASEAN Member States.

Another crucial goal of the AEC is to ensure that the different levels of economic development of ASEAN Member States are given utmost consideration. Under the Initiative for ASEAN Integration (IAI), new approaches have been developed so that the benefits of the AEC are more evenly shared between all ASEAN Member States, including the newer ASEAN Member States (Cambodia, Lao PDR, Myanmar and Viet Nam) and the sub-regions (such as the Brunei Darussalam-Indonesia¬Malaysia-Philippines East ASEAN Growth Area and the Indonesia-Malaysia-Thailand Growth Triangle).

The ASEAN Framework for Equitable Economic Development (AFEED) was introduced in 2011. It is the guiding framework for Member States to enable regional economic integration based on the principles of inclusive and sustainable growth, poverty alleviation and narrowing the development gap within and between all ASEAN Member States. Efforts are being undertaken to develop indicators to be used to monitor the operation of AFEED.

Integration into the Global EconomyOne of the important success stories of the AEC is ASEAN’s integration into the global economy. Through a number of “ASEAN+1” free trade agreements with the People’s Republic of China, Japan, the Republic of Korea, Australia, New Zealand and India, ASEAN is well-positioned at the centre of global supply chains, and has developed strong trade links with the major regional economies, which has allowed for the creation of significant business opportunities.

ASEAN is also negotiating the Regional Comprehensive Economic Partnership (RCEP), an FTA involving ASEAN and its six FTA partners. The ASEAN-led agreement, expected to be concluded by the end of 2015, will allow ASEAN to achieve a modern, comprehensive, high-quality and mutually beneficial economic partnership agreement with its FTA partners. With a combined GDP of about US$21.2 trillion, which is about 30% of global GDP, the RCEP also has the potential to transform the region into an integrated market of about 3.4 billion people (or 48% of the world’s population). When concluded, RCEP is expected to deliver tangible benefits to businesses through potential improvements in market access, trade facilitation, regulatory reform and more liberal rules of origin.

Increased business interest in the AEC ASEAN has enjoyed a steady increase in foreign direct investment (FDI), with an average growth of 14% since 2000. In 2012, FDI flows to the region reached US$110.3 billion. Such strong FDI growth is a result of a multitude of factors, including the comprehensive ASEAN integration efforts that have made it cheaper, faster and easier to trade in the region.

Already, we have seen strong interest in the AEC from business. For example, the US Chamber of Commerce in a recent survey found that 54% of American companies had an ASEAN strategy in place and looked forward to the full implementation of the AEC; 84% of executives surveyed expected profits to increase in 2014 as integration continued. As we move closer to our goal of AEC 2015, we fully expect business interest in the AEC to continue to rise, as more businesses benefit from such ASEAN integration efforts, and start to develop ASEAN strategies as part of their corporate policies. The process is well under way, as witnessed by the emergence of groups like the ASEAN Business Club, which is backed by some of the region’s biggest corporations and sees creating a high level of awareness of the AEC as a core priority. In addition, the largest consulting companies in the region have all jumped on the AEC bandwagon, helping to promote awareness of the AEC. Universities in the region have begun establishing AEC centres and think tanks are commissioning studies on the impact of the AEC.

The recent ASEAN Business Advisory Council’s (ABAC) report noted that in the ABAC Survey on Competitiveness, conducted from May to August 2013, almost half of the businesses surveyed (48% of respondents) said that their organisation takes into account the investment attractiveness of the ASEAN region as a whole when planning investment strategies. This is up from 39% as recorded in the 2011-2012 survey and is an encouraging sign that a growing number of ASEAN businesses now have an “ASEAN strategy” in mind.

Source: Excerp from ‘Thinking Globally, Prospering Regionally’, ASEAN Economic Community 2015, published by ASEAN Secretariat.Note: Part 3 will be published in MWB volume 299


Note: MITI Annual Report can be accessed through the following link http://www.miti.gov.my

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Announcements!Launching of MITI Annual

Report 2013 Date : 11 July 2014

GLOSSARY OF TERMS

For inquiries, kindly email: [email protected] [email protected] [email protected]

Ad valorem tariff

Ad valorem equivalent

A tariff rate expressed as a percentage of the value of the goods to be imported or exported. Most tariffs are now expressed in this form.

A calculation of the level of specific tariff, which converts a rate expressed as a fixed monetary value per products into a value expressed as a percentage of the value of the product. This gives the ad-valorem tariff rate. For example a specific tariff of$1 levied on a compact disc worth $10 would give an ad valorem equivalent for 10%. Om a disc worth $20, a tariff of $1 would amount 5%

WTO & YOU

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Name : Juliana Stanislaus AbdullahDesignation : Administrative Assistant OfficerRegional Office : SarawakJob Description : Responsible for administrative

and financeEmail : [email protected] Details : 082-257967

Name : Mohamad Omar Din HuriDesignation : DriverRegional Office : PerakEmail : [email protected] Details : 05-5271990

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Comments & Suggestions

INTEGRITY QUOTE

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MITI in the news download images... · Bhd, Keretapi Tanah Melayu Bhd and Chemical Company of Malaysia Bhd. ... Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May