Malaysia’s external trade to expand
KUALA LUMPUR: MIDF Research expects Malaysia’s external trade activities to expand steadily beyond 2023 amid the impacts of new trade agreements, apart from elevated commodity prices and lower monetary rates. In a note yesterday, it said the Regional Comprehensive Economic Partnership (RCEP) and Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CTPPP) were also expected to […]
Total external trade sees 1.5-fold increase to RM141.2bil
THE total external trade from January to August 2022 saw a 1.5-fold increase from RM91.1bil in 2021 to RM141.2bil in 2022, says Datuk Amar Awang Tengah Ali Hasan. The Minister for International Trade and Investment said both export and import increased by double digits at 61.1 per cent and 38.6 per cent respectively. “Strong commodity […]
RCEP is ASEAN’s investment magnet
KUALA LUMPUR: The ASEAN Business Advisory Council (ASEAN-BAC) and non-ASEAN Business Council are ramping up efforts to increase and facilitate trade and investment opportunities within the region to leverage the regional comprehensive economic partnership (RCEP) which came into force earlier this year. Speaking to Bernama in conjunction with the ASEAN 55th anniversary, Tan Sri Dr […]
Govt offers incentives for electric vehicles
KUALA LUMPUR: The government has offered incentives in the form of direct and indirect tax relief for the assembly or manufacturing of electric vehicles (EV), component parts, and the development of EV ecosystems such as charging facilities. Minister of International Trade and Industry Datuk Seri Mohamed Azmin Ali said among the incentives are pioneer status […]
Singapore 1st Asean country to ratify huge trade pact
JAKARTA: Singapore formally ratified the Regional Comprehensive Economic Partnership (RCEP) — the world’s largest free trade agreement on Friday, making it the first Association of Southeast Asian Nations (Asean) member state to do so. “We are the first country to complete the official ratification process by depositing our instrument of ratification with the Secretary-General of […]
Pemerkasa helps SMEs switch to digital economy
KUALA LUMPUR: The Strategic Programme for Empowering the People and the Economy (Pemerkasa) initiative announced by the government, among others, will help small and medium enterprises (SMEs) switch to the latest technologies such as automation, robotics and the use of the digital economy. Senior Minister Datuk Seri Mohamed Azmin Ali, who is also the Minister […]
Asean economic ministers propose common digital vaccine certificate
KUALA LUMPUR: The Association of Southeast Asian Nations (Asean) economic ministers has proposed a common digital vaccine certificate to speed up the reopening of hardest-hit sectors such as tourism, Senior Minister cum International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali said. However, he said that there was no specific timeline set when the […]
MTUC Sarawak welcomes Act amendments
KUCHING: Malaysian Trades Union Congress (MTUC) Sarawak welcomes the relevant amended parts of the Industrial Relations Act as announced by Minister of Human Resources Datuk Seri Saravanan. These amendments to the Act will be implemented with effect from Jan 1, next year. Its secretary, Andrew Lo said MTUC Sarawak believed the amendments would lead to […]
Signing of RCEP marks milestone in Asean history
JAKARTA: The Association of Southeast Asian Nations (Asean) Secretary-General Lim Jock Hoi said the bloc had a momentous day when leaders of its member states, Australia, China, Japan, South Korea, and New Zealand witnessed the signing of the Regional Comprehensive Economic Partnership (RCEP) Agreement. He called the signing a historic event “as it underpins Asean’s […]
What is the RCEP trade deal?
HANOI, Vietnam: Backed by China, the sprawling Regional Comprehensive Economic Partnership (RCEP) is seen as a coup for Beijing in extending its influence across the region and marks its dominance in Asian trade. After eight years of wrangling over the details, the trade pact — the world’s largest in terms of GDP, say analysts — […]
