Showcase on Innovation for Productivity Enhancement Weekly Bulletin/MITI_Weekly... · Q1 2015 Q2...

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Showcase on Innovation for Productivity Enhancement

In line with the Malaysia Productivity Blueprint, a Showcase on Innovation for Productivity Enhancement was successfully organised by the National Oversight Productivity Council (NOPC) with the aim to foster the productivity and innovation of SMEs.

NOPC is chaired by YB Dato’ Seri Mustapa Mohamed, Minister of International Trade and Industry while the Malaysia Productivity Corporation (MPC) as the secretariat, monitors the productivity performance of companies before and after the innovation intervention programmes through the strategic partnership platforms.

There are four implementing agencies involved in the strategic innovation partnerships namely, the Ministry of Higher Education’s Public-Private Research Network (PPRN), SIRIM-Fraunhofer partnership, AIM- Steinbeis Foundation Malaysia and SME Corp – PlaTCOM Ventures Sdn.Bhd.

Through these strategic partnerships, a total of 656 projects have been successfully matched under PPRN. Meanwhile, a total of 446 technology audits have been carried out and 310 technology interventions have been implemented under SIRIM-Fraunhofer programme. At the same time, 139 projects have been completed under Steinbeis Malaysia Foundation and a total of 144 intellectual properties transferred and 22 innovations commercialised under PlatCOM Ventures.

Various case studies on project improvement from these four strategic innovation platforms are featured in the Benchmarking Online Networking Database (BOND). For more information on case studies, please visit bond.mpc.gov.my.

Ministry of International Trade and Industry17 August 2017


MITI Weekly Bulletin | www.miti.gov.my

Malaysia

GDP at Constant 2010 Prices

287.2 billionRM

GDP at Current Prices

329.5 billionRMGNI per Capita at Current Prices

40,107RMRM254.8b RM261.1b RM269.4b RM278.0b RM265.2b RM271.4b RM281.0b RM290.6b RM280.1b RM287.2b

5.8%

4.9% 4.7% 4.6%4.1% 4.0%

4.3% 4.5%

5.6% 5.8%

Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017

EXPENDITURE

Services 6.3%

Mainly Led by Wholesale & Retail Trade and Information & Communication

Manufacturing6.0%

Propelled by Electrical, Electronic & Optical Products and Vegetable and Animal Oils & Fats and Food Processing

Mining & Quarrying0.2%

Declined in Crude Oil and slower growth in Natural Gas

Agriculture5.9%

Grew at moderate pace due to slowdown in Oil Palm and Rubber coupled with the declined in Forestry & Logging

Construction8.3%Boosted by Civil Engineering, Specialised Construction

Percentage Share of GDP at Constant 2010 Prices

Gross Domestic Product Q2 2017

5.8%Growth Rate

Pro duction

Activities and Non-residential Buildings

23.5%#

54.2%#

8.5%#

4.5%#

7.8%#

Note: # Share to GDP

Source: Department of Statistics, Malaysia

Q22017




140.3 140.8 142.6 145.2 147.5 148.9 151.5 153.2 156.0 158.3

1.4

0.4

1.3

1.8

1.5

1.0

1.7

1.2

1.8

1.5

Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017

Services

GDP (RM bil.) Growth (%)

GDP Value and Growth by Economic Activity at Constant 2010 Prices

59.8 60.5 61.4 62.1 62.6 63.1 64.0 65.0 66.0 66.9

1.01.1

1.4

1.2

0.80.9

1.3

1.61.5

1.3

Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017

Manufacturing


24.2 23.9 23.8 23.6 23.9 24.4 24.5 24.8 24.3 24.4

1.4

-1.0

-0.3

-0.9

1.2

2.0

0.7

1.1

-2.0

0.3

Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017

Mining & Quarrying


22.8 24.6 23.8 23.1 21.9 22.6 22.4 22.6 23.8 24.0

0.7

7.8

-3.4 -3.0

-5.1

3.2

-0.9

0.8

5.4

0.9

Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017

Agriculture


11.5 11.4 11.8 12.0 12.3 12.5 12.7 12.6 13.1 13.5

3.5

-1.2

3.9

1.7

2.6

1.1

2.0

-0.5

3.4 3.5

Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017

Construction




Business Tendency StatisticsQ2 2017

Quarterly Confidence Indicator, 2015-2017




International Report

Source: http://www.bmiresearch.com/data/autos-production-risk-reward-index

Which are the most attractive Autos Production markets in the world based on a balance of Risks and Rewards?

BMI’s Autos Production Risk Reward Index (RRI) quantifies and ranks a country’s attractiveness within the context of the Automotive industry, based on the balance between the Risks and Rewards of beginning or maintaining Autos manufacturing operations in different countries. BMI Research combine industry-specific characteristics with broader economic, political and operational market characteristics. We weight these inputs in terms of their importance to investor decision making in the Autos sector. The index uses a combination of our proprietary forecasts and analyst assessment of the regulatory climate.

1. USARRI - 78.3

4. SpainRRI - 69.4

2. ChinaRRI - 76.2

3. ThailandRRI - 70.1

5. IndiaRRI - 68.6

6. MexicoRRI - 67.1

7. UKRRI - 66.6

8. GermanyRRI - 65.9

9. MalaysiaRRI - 65.0

10. RussiaRRI - 61.0



Ten More Technologies Which Could Change Our Lives

Are we on the verge of switching over to electric cars, and what would be the consequences of this transition for the climate, our health, and the way we live our lives in the future?

1. Electric cars

2. Intelligent urban transport systems

3. Maglev transportation

4. Wood

Could the well-established, but for non-scientists counterintuitive, theory of quantum mechanics one day revolutionise commonplace technical devices such as sensors, communication devices and computers?

6. Quantum technologies

5. Precision agriculture

How can information technology contribute to alleviating traffic gridlock in our increasingly congested urban areas?

Magnetic levitation-based transport might soon enter our lives, providing faster, safer and more energy-efficient journeys. As longer distances can be covered faster and more cleanly, could they change the way in which we choose where to live?

Can new technologies contribute to a revival of wood as a source for biomass and construction material,and play a leading role in the fight against climate change?

Could introducing more precision agriculture in Europe allow us to boost food resilience, while ensuring sustainability and jobs, while taking the wide diversity of agriculture throughout the EU into account?

What will be the impact of radio frequency identification tags, and other short-range communication devices, on how the Internet of Things transforms our way of life?

7. Radio frequency identification tags

Big data can open up enormous new opportunities in health care, but how can we ensure that they bring benefits to everyone?

8. Big data and health care

Organoids are artificially grown organs that mimic the properties of real organs. What new possibilities for treating diseases, drug development, and personalised and regenerative medicine do organoids provide?

9. Organoids

A new technique to simplify gene editing might herald a new era of genetic modification. What are the benefits and potential dangers of this technique, and how should policy-makers respond?

10. Genome editing

Source: http://www.europarl.europa.eu/RegData/etudes/IDAN/2017/598626/EPRS_IDA(2017)598626_EN.pdf

The aim of this publication is not only to draw attention to these ten particular technologies, but also topromote reflection about other technological developments that might still be at an early stage, but thatcould, in a similar way, massively impact our lives in the short-or longer-term future.



Click http://mitec.com.my/about to get more information on MITEC

Malaysia InternationalTrade & Exhibition Centre (MITEC)



The MRT Sungai Buloh - Kajang Line

Source: www.mrt.com.my and www.mymrt.com.my

Click http://www.mymrt.com.my/en/sbk/travel-info to get more information on MRT



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

0

5

10

15

20

25

30

35

40

45

28 M

ay

4 Ju

n

11 J

un

18 J

un

25 J

un

2 Ju

l

9 Ju

l

16 J

ul

23 J

ul

30 J

ul

6 A

ug

13 A

ug

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

200

400

600

800

1,000

1,200

1,40028

Ma

y

4 Ju

n

11 J

un

18 J

un

25 J

un

2 Ju

l

9 Ju

l

16 J

ul

23 J

ul

30 J

ul

6 A

ug

13 A

ug

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

ASEAN Trade in Goods Agreement (ATIGA)


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

28 M

ay

4 Ju

n

11 J

un

18 J

un

25 J

un

2 Ju

l

9 Ju

l

16 J

ul

23 J

ul

30 J

ul

6 A

ug

13 A

ug

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

ASEAN-China Free Trade Agreement (ACFTA)


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

28 M

ay

4 Ju

n

11 J

un

18 J

un

25 J

un

2 Ju

l

9 Ju

l

16 J

ul

23 J

ul

30 J

ul

6 A

ug

13 A

ug

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

ASEAN-China Free Trade Agreement (ACFTA)


0

50

100

150

200

250

300

0

50

100

150

200

250

28 M

ay

4 Ju

n

11 J

un

18 J

un

25 J

un

2 Ju

l

9 Ju

l

16 J

ul

23 J

ul

30 J

ul

6 A

ug

13 A

ug

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

ASEAN-Japan Comprehensive Economic Partnership (AJCEP)


0

100

200

300

400

500

600

700

800

900

0

50

100

150

200

250

28 M

ay

4 Ju

n

11 J

un

18 J

un

25 J

un

2 Ju

l

9 Ju

l

16 J

ul

23 J

ul

30 J

ul

6 A

ug

13 A

ug

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

ASEAN-India Free Trade Agreement (AIFTA)


0

200

400

600

800

1,000

1,200

0

100

200

300

400

500

600

28 M

ay

4 Ju

n

11 J

un

18 J

un

25 J

un

2 Ju

l

9 Ju

l

16 J

ul

23 J

ul

30 J

ul

6 A

ug

13 A

ug

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA)




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

28 M

ay

4 Ju

n

11 J

un

18 J

un

25 J

un

2 Ju

l

9 Ju

l

16 J

ul

23 J

ul

30 J

ul

6 A

ug

13 A

ug

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

Malaysia-Japan Economic Partnership (MJEPA)


0

50

100

150

200

250

300

350

0

20

40

60

80

100

120

140

160

28 M

ay

4 Ju

n

11 J

un

18 J

un

25 J

un

2 Ju

l

9 Ju

l

16 J

ul

23 J

ul

30 J

ul

6 A

ug

13 A

ug

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

Malaysia-Pakistan Closer Economic Partnership (MPCEPA)


0

2

4

6

8

10

12

14

0.0

0.1

0.1

0.2

0.2

0.3

0.3

0.4

0.4

0.5

28 M

ay

4 Ju

n

11 J

un

18 J

un

25 J

un

2 Ju

l

9 Ju

l

16 J

ul

23 J

ul

30 J

ul

6 A

ug

13 A

ug

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

Malaysia-New Zealand Free Trade Agreement (MNZFTA)


0

20

40

60

80

100

120

140

160

180

200

0

10

20

30

40

50

60

70

80

90

100

28 M

ay

4 Ju

n

11 J

un

18 J

un

25 J

un

2 Ju

l

9 Ju

l

16 J

ul

23 J

ul

30 J

ul

6 A

ug

13 A

ug

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

Malaysia-China Free Trade Agreement (MCFTA)


0

50

100

150

200

250

300

350

400

450

500

0

10

20

30

40

50

60

70

80

28 M

ay

4 Ju

n

11 J

un

18 J

un

25 J

un

2 Ju

l

9 Ju

l

16 J

ul

23 J

ul

30 J

ul

6 A

ug

13 A

ug

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

Malaysia-India Comprehensive Economic Cooperation Agreement (MICECA)


0

100

200

300

400

500

600

0

10

20

30

40

50

60

70

80

90

28 M

ay

4 Ju

n

11 J

un

18 J

un

25 J

un

2 Ju

l

9 Ju

l

16 J

ul

23 J

ul

30 J

ul

6 A

ug

13 A

ug

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

Malaysia-Australia Free Trade Agreement (MAFTA)


0

50

100

150

200

250

300

350

400

450

0

50

100

150

200

250

300

350

400

450

500

28 M

ay

4 Ju

n

11 J

un

18 J

un

25 J

un

2 Ju

l

9 Ju

l

16 J

ul

23 J

ul

30 J

ul

6 A

ug

13 A

ug

No. o

f Cer

tific

ate

of O

rigin

RM m

il.

Malaysia-Turkey Free Trade Agreement (MTFTA)




Source : Bank Negara Malaysia

Malaysian Ringgit Exchange Rate with Selected Countries,January 2016 - July 2017

US Dollar

Philippine Peso

Vietnamese Dong

Hong Kong Dollar

Indonesian Rupiah

Indian Rupee

4.34814.2903

3.60

3.70

3.80

3.90

4.00

4.10

4.20

4.30

4.40

4.50

4.60

Jan

Feb

Ma

r

Apr

Ma

y

Jun Jul

Aug Se

p

Oct

Nov

Dec Ja

n

Feb

Ma

r

Apr

Ma

y

Jun Jul

2016 2017

RM

USD 1 = RM

9.1465

8.4725

8.00

8.20

8.40

8.60

8.80

9.00

9.20

9.40

Jan

Feb

Ma

r

Apr

Ma

y

Jun Jul

Aug Se

p

Oct

Nov

Dec Ja

n

Feb

Ma

r

Apr

Ma

y

Jun Jul

2016 2017

RM

PHP 100 = RM

0.0194

0.0189

0.015

0.016

0.017

0.018

0.019

0.020

Jan

Feb

Ma

r

Apr

Ma

y

Jun Jul

Aug Se

p

Oct

Nov

Dec Ja

n

Feb

Ma

r

Apr

Ma

y

Jun Jul

2016 2017

RM

VND 100 = RM

55.892754.9438

46.00

48.00

50.00

52.00

54.00

56.00

58.00

60.00

Jan

Feb

Ma

r

Apr

Ma

y

Jun Jul

Aug Se

p

Oct

Nov

Dec Ja

n

Feb

Ma

r

Apr

Ma

y

Jun Jul

2016 2017RM

HKD 100 = RM

0.0313 0.0322

0.020

0.022

0.024

0.026

0.028

0.030

0.032

0.034

0.036

Jan

Feb

Ma

r

Apr

Ma

y

Jun Jul

Aug Se

p

Oct

Nov

Dec Ja

n

Feb

Ma

r

Apr

Ma

y

Jun Jul

2016 2017

RM

IDR 100 = RM

6.4609

6.6565

5.20

5.40

5.60

5.80

6.00

6.20

6.40

6.60

6.80

7.00

Jan

Feb

Ma

r

Apr

Ma

y

Jun Jul

Aug Se

p

Oct

Nov

Dec Ja

n

Feb

Ma

r

Apr

Ma

y

Jun Jul

2016 2017

RM

INR 100 = RM



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 PricesCommodity 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

CRUDE PETROLEUM (BRENT)-per bbl-

18 Aug 2017 : US$52.7, 1.2%*

Average Pricei : 2016: US$45.3 2015: US$53.6

CRUDE PALM OIL-per MT-

18 Aug 2017 : US$668.5, 1.8%*Average Pricei : 2016: US$702.2 2015: US$616.9

RUBBER SMR 20-per MT-

18 Aug 2017 : US$1,539.0, 1.2%*

Average Pricei : 2016: US$1.394.5 2015: US$1.364.3

COAL -per MT-18 Aug 2017 : US$44.1, unchangedAverage Pricei : 2016: US$45.6 2015: US$49.9

COCOA SMC 2-per MT-

18 Aug 2017 : US$1,350.1, 4.9%*

Average Pricei : 2016: US$1,609.8 2015: US$2,077.0

SCRAP IRON HMS-per MT-

18 Aug 2017 : US$350.0 (high), unchanged US$340.0 (low), unchangedAverage 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 Prices18 Aug 2017

Steel Bars(per MT)

RM2,420 – RM2,570

Billets(per MT)

RM2,200 – RM2,250

SUGAR -per lbs-18 Aug 2017 : US¢ 13.4, 1.6%*

Average Pricei : 2016: US¢18.2 2015: US¢13.2



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.

722.5 720.0

707.0

688.5

650.0 650.0

666.0670.5 669.5

665.0

656.5

668.5

600

620

640

660

680

700

720

740

2 Jun 9 Jun 16 Jun 23 Jun 30 Jun 7 Jul 14 Jul 21 Jul 28 Jul 4 Aug 11 Aug 18 Aug

US$

/mt

Crude Palm Oil

1,459.8

1,417.9

1,501.7

1,270.7

1,385.7

1,419.1

1,373.5

1,421.7

1,448.6

1,543.1

1,420.1

1,350.1

1,200

1,250

1,300

1,350

1,400

1,450

1,500

1,550

1,600


US$

/mt

Cocoa

13.7

14.5

13.6

13.2

13.8

14.2

14.314.4 14.4

14.1

13.2

13.4

12.0

12.5

13.0

13.5

14.0

14.5

15.0


US¢

/lbs

Sugar

1,447.5

1,393.5

1,469.0

1,381.0

1,540.0

1,469.0

1,510.0

1,568.5

1,433.5

1,477.5

1,520.5

1,539.0

1,300

1,350

1,400

1,450

1,500

1,550

1,600


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




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

1,903

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 Jul

2016 2017

US$

/ to

nne

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

5,985

4,000

4,500

5,000

5,500

6,000

6,500


2016 2017

US$

/ to

nne

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

9,491

7,000

7,500

8,000

8,500

9,000

9,500

10,000

10,500

11,000

11,500


2016 2017

US$

/ to

nne

Nickel

47.7

45.8

44.7

43.0

46.3

44.2

46.6

45.8

49.7 49.6

48.848.5

50.0

48.2

47.4

45.5

47.9

46.7

49.0

48.1

52.5 52.452.1

52.7

40

42

44

46

48

50

52

54


US$

/bb

l

Crude Petroleum

Crude Petroleum (WTI)/bbl Crude Petroleum (Brent)/bbl




Sources: Ministry of International Trade and Industry Malaysia, Malaysian Iron and Steel Industry Federation, Bloomberg and Czarnikow Group, World Bank.

935.0

942.0

926.0930.0

914.0 914.0

921.0

940.0

930.0

969.0

987.0 988.0

860.0

880.0

900.0

920.0

940.0

960.0

980.0

1,000.0


US$

/oz

Platinum

270.0 270.0 270.0 270.0 270.0

300.0

315.0 315.0320.0

330.0

350.0 350.0

240.0 240.0 240.0 240.0 240.0

280.0

300.0 300.0

310.0

320.0

340.0 340.0

200

220

240

260

280

300

320

340

360


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

67.74

30.0

40.0

50.0

60.0

70.0

80.0

90.0

100.0


2016 2017

US$

/dm

tu

Iron Ore

17.4

17.2

16.8 16.816.7

15.9

16.1

16.5

16.7

16.5

17.1

17.2

15.0

15.5

16.0

16.5

17.0

17.5


US$

/oz

Silver

41.0

40.7

40.4 40.4

39.9

39.1

39.6

40.1

40.7

40.4

41.4

41.7

37.5

38.0

38.5

39.0

39.5

40.0

40.5

41.0

41.5

42.0


US$

/oz

Gold



The Malaysia Aerospace Industry Summit 2017 (MyAERO’17), 15 August 2017

MITI PROGRAMMEMITI PROGRAMME



MITI PROGRAMMEMITI PROGRAMMEMITI PROGRAMMEMITI PROGRAMMEShowcase on Innovation for Productivity Enhancement

17 August 2017



MITI PROGRAMMEMITI PROGRAMMEMITI PROGRAMMEMITI PROGRAMMEProgram Penanaman Pokok ‘MERDEKA’ & Perasmian Bulan Kemerdekaan

17 August 2017



of Technical Terms

International Commercial Terms (Incoterms)Initially created in 1936 by the International Chamber of Commerce (ICC) and have been periodically revised (Incoterms® 2010 is the 8th revision). Incoterms® reflect world-wide trade practices, as practices change, Incoterms® are revised.

International Payment MethodsCash in Advance:

Time of Payment : Before Shipment Goods Available to Buyer : After Payment

Open Account

Time of Payment : As agreed; e.g.: 30 daysGoods Available to Buyer : Before Payment

Letters of Credit (L/Cs) are legal instruments issued by banks (on behalf of their customers) with the conditional obligation to make payment to the beneficiary of the L/C

Documentary (Trade) Letters of Credit are used to facilitate payments in import and export transactionsStandby Letters of Credit are “standing by” for an event of default or non-performance before they can be drawn on.

Invisible handAdam Smith’s shorthand for the ability of the free market to allocate factors of production, goods and services to their most valuable use. If everybody acts from self-interest, spurred on by the profit motive, then the economy will work more efficiently, and more productively, than it would do were economic activity directed instead by some sort of central planner. It is, wrote Smith, as if an ‘invisible hand’ guides the actions of individuals to combine for the common good. Smith recognised that the invisible hand was not infallible, however, and that some government action might be needed, such as to impose antitrust laws, enforce property rights, and to provide policing and national defence.

Invisible tradeExports and imports of things you cannot touch or see: services, such as banking or advertising and other intangibles, such as copyrights. Invisible trade accounts for a growing slice of the value of world trade.



Announcement

1Malaysia New Icon

The new 1Malaysia icon is a combination of the Jalur

Gemilang and Negaraku and is a symbol to reinforce the

message of fostering national unity.



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MITI Weekly Bulletin wishes to convey our deepest condolences

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17 & 18 August 2017

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