miti established a task force on us-china trade conflict weekly bulletin/miti_weekly... · miti...
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1MITI Tower, No. 7, Jalan Sultan Haji Ahmad Shah, 50480 Kuala Lumpur, Malaysia Tel: +603 - 8000 8000 Fax: +603 - 6202 9446
ME
DIA
RE
LEA
SE
It is a real concern that in recent months, we have seen the spectre of protectionism on the rise. The protectionist measures started when the US initiated investigations in 2017 under the auspices of its Trade Act of 1974 and Trade Expansion Act of 1962. The US-China trade conflict began on 22 January 2018 when the US imposed the global safeguard measures on solar panels and washing machines. Tensions further escalated when the US invoked section 232, Trade Expansion Act of 1962 and imposed additional tariffs against aluminium and steel imports on national security grounds. These actions have resulted in numerous announcements and actions by China–retaliating against the measures taken by the US.
Ministry of International Trade and Industry 18 July 2018
Trade conflict is never a beneficial move for any country simply because trade restrictions and retaliatory measures would hurt everyone, especially small countries. The conflict has not only affected the US and China but also sparked retaliatory measures by many other aggrieved countries. Among the retaliatory measures are safeguard investigations launched by European Union (EU) in March 2018 on 23 iron and steel products and followed by Turkey against numerous iron and steel products in May 2018. It did not stop there as Canada too is considering both quotas and tariffs to stop a spike in imports of foreign steel being diverted from the US. Looking at this upsetting trend, a vicious protectionist cycle will ensue and pose a threat to world trade.
Countries should halt the spread of protectionism and instead, be actively engaged in finding amicable solutions and resolving trade issues through multilateral dialogue such as the World Trade Organisation (WTO). This is to ensure that trade policies can be effective in strengthening the multilateral trading system. Hence, the Malaysian Government will continue to work with all countries to ensure that protectionism is not the preferred path in any country’s policy formulation. Malaysia will also highlight our concerns at the ASEAN and APEC fora.
With a view to monitor and coordinate the feedback from various stakeholders against the backdrop of escalating US-China’s trade conflict, Ministry of International Trade and Industry (MITI) has established a task force in July 2018 with the aim to monitor and assess the developments of the US-China trade conflict and well as formulate strategies to mitigate the impact of trade protectionism. The task force will also act as a focal point for stakeholders to present their views, comments, and feedback.
Companies operating in Malaysia are encouraged to reach out to this task force on any challenges they are facing due to the on-going trade tension. The task force can be reached at [email protected].
MITI established a task force on US-China trade conflict
2MITI Tower, No. 7, Jalan Sultan Haji Ahmad Shah, 50480 Kuala Lumpur, Malaysia Tel: +603 - 8000 8000 Fax: +603 - 6202 9446
MITI Weekly Bulletin | www.miti.gov.my
MALAYSIA
Source: Quarterly Employment Survey, Department of Statistics, Malaysia
EMPLOYMENT STATISTICSFOURTH QUARTER 2017
Semi-skilled recorded highest percentage share in labour demand with 62.1% positions, 62.3% filled postions and 53.8% vacancies. Skilled category contributed 59.0% of job created.
3MITI Tower, No. 7, Jalan Sultan Haji Ahmad Shah, 50480 Kuala Lumpur, Malaysia Tel: +603 - 8000 8000 Fax: +603 - 6202 9446
MITI Weekly Bulletin | www.miti.gov.my
LABOUR DEMAND BY ECONOMIC ACTIVITYFOURTH QUARTER 2017
Source: Quarterly Employment Survey, Department of Statistics, Malaysia
4MITI Tower, No. 7, Jalan Sultan Haji Ahmad Shah, 50480 Kuala Lumpur, Malaysia Tel: +603 - 8000 8000 Fax: +603 - 6202 9446
MITI Weekly Bulletin | www.miti.gov.my
Source: Monthly Labour Force Survey, Department of Statistics, Malaysia
5MITI Tower, No. 7, Jalan Sultan Haji Ahmad Shah, 50480 Kuala Lumpur, Malaysia Tel: +603 - 8000 8000 Fax: +603 - 6202 9446
MITI Weekly Bulletin | www.miti.gov.my
International ReportMalaysia ranked the number one exporter of
soap in the form of flakes, granules, powder, paste or in aqueous solution* in 2017
1) MALAYSIA US$382.6m | 20.4%
2) INDONESIA 15.4% | US$289.1m
3) USAUS$126.2bm | 6.7%
4) ITALY
6% | US$112.5m5) GERMANY
US$95.5m | 5.1%
Malaysia’s top five export destinations for soap in the form of flakes, granules, powder, paste or in aqueous solution* in 2017
MALAYSIA
UAE
NIGERIA
INDIATURKEYEGYPT
US$38.9m
US$35.9m
US$30.0mUS$24.6mUS$23.0m
6.0%* 6.4%* 7.8%*
9.4%*
10.4%*
Note : Refers to HS340120 * Share in Malaysia's exportsSource:http://www.trademap.org/Index.aspx
6MITI Tower, No. 7, Jalan Sultan Haji Ahmad Shah, 50480 Kuala Lumpur, Malaysia Tel: +603 - 8000 8000 Fax: +603 - 6202 9446
MITI Weekly Bulletin | www.miti.gov.myMITI Weekly Bulletin | www.miti.gov.my
ASEAN Economic Indicators 2017
642.4 2,765.74.5 mil. 1,313.6 1,241.5 137.04,305
5.6 324.0719 62.0383.3 317.757,722
67.7 455.7513,120 9.1236.7 222.86,736Thailand
93.7 223.9331,231 14.1213.9 210.62,390
Viet Nam
Population1
(mil. persons)GDP*
(US$ bil.)Land
Area (km2)Exports3
(US$ mil.)Imports3
(US$ mil.)GDP per
Capita2(US$*)FDI4
(US$ bil.)
Singapore
32.0 317.0331,388 9.4217.8 195.19,892
262.2 1,013.91,913,579 23.1168.8 157.03,867Indonesia
104.9 313.9300,000 10.068.3 107.92,992
Philippines
Malaysia
53.4 65.6676,576 4.313.9 19.21,229
0.4 12.25,765 0.54.8 3.128,466Brunei
15.7 22.3181,035 2.72.6 3.31,421
Cambodia
Myanmar
6.8 17.1236,800 1.73.6 4.82,531
Lao PDR
Note: * at current prices
Source: https://data.aseanstats.org/
1 Refers to/based on mid-year total population based on country projections2 Based on AMSs data submission to ASEANstats and Official National Statistical Offices website3 ASEAN IMTS Database preliminary 2017 figures are as of End May 20184 FDI 2017 figures are preliminary as of 30 June 2018
Malaysia ranked fourth in ASEAN total trade with the contribution of 16.5% to total exports and 15.7% to total imports.
7MITI Tower, No. 7, Jalan Sultan Haji Ahmad Shah, 50480 Kuala Lumpur, Malaysia Tel: +603 - 8000 8000 Fax: +603 - 6202 9446
MITI Weekly Bulletin | www.miti.gov.my
Note: *Provisional Data Source: Ministry of International Trade and Industry, Malaysia
0
20
40
60
80
100
120
140
160
180
0
5
10
15
20
25
30
35
40
29 A
pr
6 M
ay
13 M
ay
20 M
ay
27 M
ay
3 Ju
n
10 J
un
17 J
un
24 J
un
1 Ju
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8 Ju
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15 J
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No. o
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tific
ate
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RM m
il.
Generalised System of Preferences (GSP)
Total FOB (RM mil.) Total CO
Note: The preference giving countries under the GSP scheme are Liechtenstein, the Russian Federation, Japan, Switzerland, Belarus, Kazakhstan and Norway.
Number and Value of Preferential Certificates of Origin (PCOs)
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,00029
Apr
6 M
ay
13 M
ay
20 M
ay
27 M
ay
3 Ju
n
10 J
un
17 J
un
24 J
un
1 Ju
l
8 Ju
l
15 J
ul
No. o
f Cer
tific
ate
of O
rigin
RM m
il.
ASEAN Trade in Goods Agreement (ATIGA)
Total FOB (RM mil.) Total CO
0
500
1,000
1,500
2,000
2,500
3,000
0
1,000
2,000
3,000
4,000
5,000
6,000
29 A
pr
6 M
ay
13 M
ay
20 M
ay
27 M
ay
3 Ju
n
10 J
un
17 J
un
24 J
un
1 Ju
l
8 Ju
l
15 J
ul
No.
of C
ertif
icat
e of
Orig
in
RM m
il.
ASEAN-China Free Trade Agreement (ACFTA)
Total FOB (RM mil.) Total CO
0
200
400
600
800
1,000
1,200
1,400
1,600
0
100
200
300
400
500
600
700
29 A
pr
6 M
ay
13 M
ay
20 M
ay
27 M
ay
3 Ju
n
10 J
un
17 J
un
24 J
un
1 Ju
l
8 Ju
l
15 J
ul
No. o
f Cer
tific
ate
of O
rigin
RM m
il.
ASEAN-Korea Free Trade Agreement (AKFTA)
Total FOB (RM mil.) Total CO
0
50
100
150
200
250
300
0
20
40
60
80
100
120
140
160
29 A
pr
6 M
ay
13 M
ay
20 M
ay
27 M
ay
3 Ju
n
10 J
un
17 J
un
24 J
un
1 Ju
l
8 Ju
l
15 J
ul
No.
of C
ertif
icat
e of
Orig
in
RM m
il.
ASEAN-Japan Comprehensive Economic Partnership (AJCEP)
Total FOB (RM mil.) Total CO
0
100
200
300
400
500
600
700
800
900
1,000
0
50
100
150
200
250
300
350
400
29 A
pr
6 M
ay
13 M
ay
20 M
ay
27 M
ay
3 Ju
n
10 J
un
17 J
un
24 J
un
1 Ju
l
8 Ju
l
15 J
ul
No. o
f Cer
tific
ate
of O
rigin
RM m
il.
ASEAN-India Free Trade Agreement (AIFTA)
Total FOB (RM mil.) Total CO
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
0
20
40
60
80
100
120
140
29 A
pr
6 M
ay
13 M
ay
20 M
ay
27 M
ay
3 Ju
n
10 J
un
17 J
un
24 J
un
1 Ju
l
8 Ju
l
15 J
ul
No.
of C
ertif
icat
e of
Orig
in
RM m
il.
ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA)
Total FOB (RM mil.) Total CO
Malaysia ranked fourth in ASEAN total trade with the contribution of 16.5% to total exports and 15.7% to total imports.
8MITI Tower, No. 7, Jalan Sultan Haji Ahmad Shah, 50480 Kuala Lumpur, Malaysia Tel: +603 - 8000 8000 Fax: +603 - 6202 9446
MITI Weekly Bulletin | www.miti.gov.myMITI Weekly Bulletin | www.miti.gov.my
Number and Value of Preferential Certificates of Origin (PCOs)
0
200
400
600
800
1,000
1,200
0
50
100
150
200
250
300
29 A
pr
6 M
ay
13 M
ay
20 M
ay
27 M
ay
3 Ju
n
10 J
un
17 J
un
24 J
un
1 Ju
l
8 Ju
l
15 J
ul
No.
of C
ertif
icat
e of
Orig
in
RM m
il.
Malaysia-Japan Economic Partnership (MJEPA)
Total FOB (RM mil.) Total CO
0
50
100
150
200
250
300
350
0
50
100
150
200
250
29 A
pr
6 M
ay
13 M
ay
20 M
ay
27 M
ay
3 Ju
n
10 J
un
17 J
un
24 J
un
1 Ju
l
8 Ju
l
15 J
ul
No. o
f Cer
tific
ate
of O
rigin
RM m
il.
Malaysia-Pakistan Closer Economic Partnership (MPCEPA)
Total FOB (RM mil.) Total CO
0
2
4
6
8
10
12
14
16
0.00
0.05
0.10
0.15
0.20
0.25
0.30
0.35
29 A
pr
6 M
ay
13 M
ay
20 M
ay
27 M
ay
3 Ju
n
10 J
un
17 J
un
24 J
un
1 Ju
l
8 Ju
l
15 J
ul
No.
of C
ertif
icat
e of
Orig
in
RM m
il.
Malaysia-New Zealand Free Trade Agreement (MNZFTA)
Total FOB (RM mil.) Total CO
0
20
40
60
80
100
120
0
5
10
15
20
25
29 A
pr
6 M
ay
13 M
ay
20 M
ay
27 M
ay
3 Ju
n
10 J
un
17 J
un
24 J
un
1 Ju
l
8 Ju
l
15 J
ul
No. o
f Cer
tific
ate
of O
rigin
RM m
il.
Malaysia-Chile Free Trade Agreement (MCFTA)
Total FOB (RM mil.) Total CO
0
100
200
300
400
500
600
0
10
20
30
40
50
60
70
80
29 A
pr
6 M
ay
13 M
ay
20 M
ay
27 M
ay
3 Ju
n
10 J
un
17 J
un
24 J
un
1 Ju
l
8 Ju
l
15 J
ul
No.
of C
ertif
icat
e of
Orig
in
RM m
il.
Malaysia-India Comprehensive Economic Cooperation Agreement (MICECA)
Total FOB (RM mil.) Total CO
0
100
200
300
400
500
600
0
20
40
60
80
100
120
140
29 A
pr
6 M
ay
13 M
ay
20 M
ay
27 M
ay
3 Ju
n
10 J
un
17 J
un
24 J
un
1 Ju
l
8 Ju
l
15 J
ul
No. o
f Cer
tific
ate
of O
rigin
RM m
il.
Malaysia-Australia Free Trade Agreement (MAFTA)
Total FOB (RM mil.) Total CO
0
50
100
150
200
250
300
350
400
0
50
100
150
200
250
300
350
400
29 A
pr
6 M
ay
13 M
ay
20 M
ay
27 M
ay
3 Ju
n
10 J
un
17 J
un
24 J
un
1 Ju
l
8 Ju
l
15 J
ul
No.
of C
ertif
icat
e of
Orig
in
RM m
il.
Malaysia-Turkey Free Trade Agreement (MTFTA)
Total FOB (RM mil.) Total CO
Note: *Provisional Data Source: Ministry of International Trade and Industry, Malaysia
9MITI Tower, No. 7, Jalan Sultan Haji Ahmad Shah, 50480 Kuala Lumpur, Malaysia Tel: +603 - 8000 8000 Fax: +603 - 6202 9446
MITI Weekly Bulletin | www.miti.gov.my
Source : Bank Negara Malaysia
Malaysian Ringgit Exchange Rate with Selected Countries,January 2017 - June 2018
US Dollar
Canadian Dollar
New Zealand Dollar
Swiss Franc
Saudi Riyal
Myanmar Kyat
4.4596
3.8862
3.9999
3.50
3.60
3.70
3.80
3.90
4.00
4.10
4.20
4.30
4.40
4.50
4.60
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2017 2018
RM
USD 1 = RM
3.3755
3.4288
3.0211
3.0490
2.80
2.90
3.00
3.10
3.20
3.30
3.40
3.50
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2017 2018
RM
CAD 1 = RM
3.1735
3.2126
2.7549
2.7783
2.50
2.60
2.70
2.80
2.90
3.00
3.10
3.20
3.30
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2017 2018
RM
NZD 1 = RM
4.42094.4697
3.9775
4.0426
3.70
3.80
3.90
4.00
4.10
4.20
4.30
4.40
4.50
4.60
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2017 2018RM
CHF 1 = RM
118.9006
103.6265
106.6546
95.0
100.0
105.0
110.0
115.0
120.0
125.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2017 2018
RM
SAR 100 = RM
0.3296
0.2921
0.2929
0.270
0.280
0.290
0.300
0.310
0.320
0.330
0.340
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2017 2018
RM
MMK 100 = RM
10MITI Tower, No. 7, Jalan Sultan Haji Ahmad Shah, 50480 Kuala Lumpur, Malaysia Tel: +603 - 8000 8000 Fax: +603 - 6202 9446
MITI Weekly Bulletin | www.miti.gov.my
Sources: Ministry of International Trade and Industry Malaysia, Malaysian Palm Oil Board, Malaysian Rubber Board, Malaysian Cocoa Board, Malaysian Iron and Steel Industry Federation, and Bloomberg.
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
CRUDE PETROLEUM (BRENT)-per bbl-
20 July 2018 : US$73.1, 3.0%*Average Pricei : 2017: US$55.0 2016: US$45.3
CRUDE PALM OIL-per MT-
20 July 2018 : US$605.0, 0.5%*Average Pricei : 2017: US$719.7 2016: US$702.2
RUBBER SMR 20-per MT-
20 July 2018 : US$1,342.5, 2.1%*Average Pricei : 2017: US$1,646.6 2016: US$1,394.5
COAL -per MT-20 July 2018 : US$64.6, 0.2%*Average Pricei : 2017: US$57.2 2016: US$45.6
COCOA SMC 2-per MT-
20 July 2018 : US$1,463.5, 10.4%*Average Pricei : 2017: US$1,439.0 2016: US$1,609.8
SCRAP IRON HMS-per MT-
20 July 2018 :US$390.0(high), unchanged* US$375.0 low), unchanged* Average Pricei : 2017: US$314.5 2016: US$243.2
HIGHEST and LOWEST 2017/2018
Highest 29 June 2018 : US$79.4 29 Dec 2017 : US$66.9
Lowest
9 Feb 2018 : US$62.8
23 June 2017 : US$45.5
Crude Petroleum
(Brent)-per bbl-
Highest 9 Mar 2018 : US$691.5 20 Jan 2017 : US$843.0
Lowest
30 June 2017 : US$650.0 13 July 2018 : US$602.0
Crude Palm Oil -per MT-
Domestic Prices20 July 2018
Steel Bars(per MT)
RM2,400 – RM2,550
Billets(per MT)
RM2,250 – RM2,300
SUGAR -per lbs-20 July 2018 :US¢11.1, 1.5%*Average Pricei : 2017: US¢15.8 2016: US¢18.2
11MITI Tower, No. 7, Jalan Sultan Haji Ahmad Shah, 50480 Kuala Lumpur, Malaysia Tel: +603 - 8000 8000 Fax: +603 - 6202 9446
MITI Weekly Bulletin | www.miti.gov.my
Commodity Price Trends
Sources: Ministry of International Trade and Industry Malaysia, Malaysian Palm Oil Board, Malaysian Rubber Board, Malaysian Cocoa Board, Malaysian Pepper Board, Bloomberg and Czarnikow Group, World Bank, World Gold Council, The Wall Street Journal.
1,918.9 1,915.5
1,785.3 1,744.3
1,644.3
1,506.4
1,553.3
1,607.1
1,646.71,612.5
1,633.7
1,463.5
1,200
1,300
1,400
1,500
1,600
1,700
1,800
1,900
2,000
4 May 8 May 18 May 25 May 1 June 8 June 14 June22 June29 June 6 July 13 July 20 July
US$
/mt
Cocoa
11.5
11.2
11.7
12.512.5 12.5
12.312.4
12.3
11.5
11.0
11.1
10.0
10.5
11.0
11.5
12.0
12.5
13.0
4 May 11 May 18 May 25 May 1 June 8 June 15 June 22 June 29 June 6 July 13 July 20 July
US¢
/lbs
Sugar
1,438.5 1,435.5 1,431.5
1,457.0
1,424.5 1,424.0
1,371.5
1,352.0 1,354.5
1,316.0 1,314.5
1,342.5
1,200
1,250
1,300
1,350
1,400
1,450
1,500
4 May 8 May 18 May 25 May 1 June 8 June 14 June22 June29 June 6 July 13 July 20 JulyU
S$/m
t
Rubber SMR 20
6,90
0 7,08
8
7,11
3 7,28
1
6,91
7
6,85
1
6,73
0
6,33
7
6,08
5
5,96
5
4,51
6
3,98
4
4,36
6 4,60
5
4,17
0 4,47
4
4,46
3
3,97
4
2,95
0
3,47
6
4,11
4
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
7,000
7,500
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
2016 2017
USD
/ to
nne
Black Pepper
69.770.7 71.3
67.9
65.8 65.765.1
68.6
74.2 73.8
71.0 70.5
74.9
77.178.5
76.4 76.8 76.5
73.4
75.6
79.4
77.1
75.3
73.1
50
55
60
65
70
75
80
85
4 May 11 May 18 May 25 May 1 June 8 June 15 June 22 June 29 June 6 July 13 July 20 July
US$
/bbl
Crude Petroleum
CrudePetroleum(WTI)/bblCrudePetroleum(Brent)/bbl
641.7 641.5
655.0
663.0666.5
662.0657.0
635.5
609.5 610.5
602.0605.0
560
580
600
620
640
660
680
4 May 8 May 18 May 25 May 1 June 8 June 14 June 22 June 29 June 6 July 13 July 20 July
US$
/mt
Crude Palm Oil
12MITI Tower, No. 7, Jalan Sultan Haji Ahmad Shah, 50480 Kuala Lumpur, Malaysia Tel: +603 - 8000 8000 Fax: +603 - 6202 9446
MITI Weekly Bulletin | www.miti.gov.my
16.6
16.5
16.8
16.516.6
16.5
16.8
16.3
16.4
16.1 16.1
15.8
15.2
15.4
15.6
15.8
16.0
16.2
16.4
16.6
16.8
17.0
27 Apr 4 May 11 May 18 May 25 May 1 June 8 June 15 June 22 June 29 June 6 July 13 July
US$
/oz
Silver
42.542.3
42.4
41.5
41.942.0
41.741.9
40.7
40.240.4
40.2
39.0
39.5
40.0
40.5
41.0
41.5
42.0
42.5
43.0
27 Apr 4 May 11 May 18 May 25 May 1 June 8 June 15 June 22 June 29 June 6 July 13 July
US$
/oz
Gold
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.
1,79
1 1,86
1
1,90
1
1,92
1
1,91
3
1,88
5
1,90
3
2,03
0 2,09
6
2,13
1
2,09
7
2,08
0
2,21
0
2,18
2
2,06
9
2,25
5 2,30
0
1,400
1,500
1,600
1,700
1,800
1,900
2,000
2,100
2,200
2,300
2,400
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May
2017 2018
US$
/ to
nn
e
Aluminium
5,75
5 5,94
1
5,82
5
5,68
4
5,60
0
5,72
0
5,98
5
6,48
6
6,57
7 6,80
8
6,82
7
6,83
4 7,06
6
7,00
7
6,79
9
6,85
2
6,82
5
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
2017 2018
US$
/ to
nn
e
Copper
9,97
1 10,6
43
10,2
05
9,60
9
9,15
5
8,93
2 9,49
1
10,8
90
11,2
16
11,3
36 11
,972
11,4
95
12,8
65 13
,596
13,3
93
13,9
38
14,3
66
7,000
8,000
9,000
10,000
11,000
12,000
13,000
14,000
15,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May
2017 2018
US$
/ to
nn
e
Nickel
Commodity Price Trends
80.41
89.44
87.65
70.22
62.43
57.48
67.74
76.07
71.53
61.66
64.24
72.25 76.34
77.46
70.35
65.75
66.10
30.0
40.0
50.0
60.0
70.0
80.0
90.0
100.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May
2017 2018
US$
/dm
tu
Iron Ore
904.0
929.0
888.0
912.0906.0 904.0
869.0 870.0
854.0848.6
830.3 829.5
760.0
780.0
800.0
820.0
840.0
860.0
880.0
900.0
920.0
940.0
4 May 11 May 18 May 25 May 1 June 8 June 15 June 22 June 29 June 6 July 13 July 20 July
US$
/oz
Platinum
16.5
16.8
16.516.6
16.5
16.8
16.316.4
16.1 16.1
15.8
15.5
14.5
15.0
15.5
16.0
16.5
17.0
4 May 11 May 18 May 25 May 1 June 8 June 15 June 22 June 29 June 6 July 13 July 20 July
US$
/oz
Silver
42.342.4
41.5
41.9 42.041.7
41.9
40.7
40.240.4
40.1
39.2
37.0
38.0
39.0
40.0
41.0
42.0
43.0
4 May 11 May 18 May 25 May 1 June 8 June 15 June 22 June 29 June 6 July 13 July 20 July
US$
/oz
Gold
350.0 350.0 350.0 350.0 350.0
370.0 370.0
390.0 390.0 390.0 390.0 390.0
330.0 330.0 330.0
340.0 340.0
350.0 350.0
375.0 375.0 375.0 375.0 375.0
300
310
320
330
340
350
360
370
380
390
400
4 May 11 May 18 May 25 May 1 June 8 June 15 June 22 June 29 June 6 July 13 July 20 July
US$
/mt
Scrap Iron
ScrapIron/MT(High)ScrapIron/MT(Low)
56.6 56.6
58.3
59.6
61.2 61.0 61.0 61.0
62.3
63.864.4 64.6
52.0
54.0
56.0
58.0
60.0
62.0
64.0
66.0
4 May 11 May 18 May 25 May 1 June 8 June 15 June 22 June 29 June 6 July 13 July 20 July
US$
/t
Coal
13MITI Tower, No. 7, Jalan Sultan Haji Ahmad Shah, 50480 Kuala Lumpur, Malaysia Tel: +603 - 8000 8000 Fax: +603 - 6202 9446
MITI Weekly Bulletin | www.miti.gov.my
23 July 2018
Datuk Khoo Boo Seng Former Senior Director
Strategic PlanningMinistry of International Trade & Industry
Happy Retirement..."Work for a cause, not for applause.Live life to express, not to impress.Don’t strive to make your presence noticed.Just make your absence felt."
May you be blessed with many more fulfilling journeys ahead!
14MITI Tower, No. 7, Jalan Sultan Haji Ahmad Shah, 50480 Kuala Lumpur, Malaysia Tel: +603 - 8000 8000 Fax: +603 - 6202 9446
MITI Weekly Bulletin | www.miti.gov.my
Source: http://www.miti.gov.my/index.php/glossary
of Technical TermsMROMaintenance, repair and overhaul - includes preservation, and the replacement of parts the sub- sector under MRO consist of airframe heavy maintenance, line maintenance, modification, engine overhaul and component MRO.
MRTMeeting of APEC Ministers Responsible for Trade - the first meeting was held in October 1994 in Jakarta, Indonesia as a follow-up to the decision of the APEC Ministerial Meeting in Seattle, United States, 1993. The meeting has been held annually since 1996, to strengthen the multilateral trading system and the trade and investment liberalization and facilitation process of APEC. In recent years, Ministers have discussed issues on anti-corruption, human security, public-private partnership, and economic and technical cooperation. MITI Minister represents Malaysia as MRT at APEC.
MSAMalaysia Steel Association - The association was launched on 2 November 2010 with the objective of upholding the interests of upstream steel companies, consolidating their strengths and providing a platform for the exchange of knowledge to achieve mutual goodwill, cooperation and unity for the benefit of all members in the Malaysian steel industry.
MSCMalaysia Steel Council - The Malaysia Steel Council was established in 2012 and is chaired by YB Minister MITI. The objectives of MSC are to oversee, develop and continuously align the implementation milestones and roadmap including governance mechanism, towards ensuring the competitiveness of the iron and steel industry in Malaysia.
MSDCMalaysia Services Development Council - Meeting as a platform to address cross cutting policy issues on services. Working with MPC and other stakeholders in addressing regulatory and institutional barriers.
Participation in the services studies and implementation of identified key recommendations of selected services studies, such as Services Blueprint, Logistic and trade facilitation masterplan and other related studies.
MSIMalaysia Steel Institute – The Malaysia Steel Institute (MSI) is an industry driven institute under MITI. MSI’s role among others, is to collaborate with the Government in planning the growth and development of the iron and steel industry.
MSPCMalaysian Services Provider Confederation - To be the sole platform for formulating common strategies, networking at national, regional and international levels for service sectors; To promote and stimulate demand for services – professional, business and others; To accelerate the growth of the services sector by: Enhancing the competitiveness, productivity and efficiency of the sector, Developing the capacities and capabilities for the sector, Positioning Malaysia to be a regional centre of excellence for those established and maturing sub-sectors, Engaging with the authorities, in the spirit of Malaysia Inc., to create a more conducive business environment for investments and export of services. Outreaching, nurturing and partnering constituent member organizations in strengthening institutional support in both development and promotion.
MTFTAMalaysia-Turkey Free Trade Agreement
15MITI Tower, No. 7, Jalan Sultan Haji Ahmad Shah, 50480 Kuala Lumpur, Malaysia Tel: +603 - 8000 8000 Fax: +603 - 6202 9446
MITI Weekly Bulletin | www.miti.gov.my
Announcement
For more information, kindly click the following links:http://www.miti.gov.my/miti/resources/Approve%20Permit/AP%20Announcement/Lampiran_GP_Classic_and_
For more information, kindly click the following links:http://www.miti.gov.my/index.php/pages/view/4761Vintage_English.pdf
Issuance of APEC Business Travel Card is temporarily suspendedImmigration Department of Malaysia has issued a notice that due to unavoidable circumstances, the issuance of APEC Business Travel Card is temporarily suspended and ABTC card will not be printed for approved applicants until further notice (Kindly refer: http://www.imi.gov.my/index.php/en/resourc-es-and-archives/announcement/1784-notice-of-apec-card-production-suspended-time.html).
The seminar is intended to promote better compliance of export control and effective implementation of the Strategic Trade Act 2010 (STA). This seminar which is expected to host 250 representatives from government agencies and various industries in Malaysia will be a platform to provide guidance on the latest developments and initiatives by the relevant authorities in Malaysia and United States of America.
Should you wish to participate, kindly register your attendance at this link: https://docs.google.com/forms/d/e/1FAIpQLSfWwbLEktIGm3OvoE5UJMdzvbq4X5ymttWg6TBVnS2pTrQwwQ/formResponse
Please note that registration will be closed by Wednesday, 25 July 2018. You may contact Ms. Nur Liyana Alwi (email: [email protected]) or Ms. Alice Simbun (email: [email protected]) for further inquiries.
of Technical Terms
16MITI Tower, No. 7, Jalan Sultan Haji Ahmad Shah, 50480 Kuala Lumpur, Malaysia Tel: +603 - 8000 8000 Fax: +603 - 6202 9446
Announcement
Tentative Schedule for MITI Pocket Talk 2018No. Date Venue Topic
1 8-Aug MITI HQ • Introduction Preferential Certificate of Origin (PCO)• Updates on RCEP
2 15-Aug MITI Perak • Introduction to FTA & Preferential Certificate of Ori-gin (PCO)
3 19-Sep MITI Pahang • Introduction to FTA & Preferential Certificate of Ori-gin (PCO)
4 17-Oct MITI HQ • Introduction to FTA & Preferential Certificate of Ori-gin (PCO)
5 14-Nov MITI Sabah • Introduction to FTA & Preferential Certificate of Ori-gin (PCO)
6 5-Dec MITI HQ • Introduction to FTA & Preferential Certificate of Ori-gin (PCO)
7 12-Dec MITI Sarawak • Introduction to FTA & Preferential Certificate of Ori-gin (PCO)
Please click here to register
17MITI Tower, No. 7, Jalan Sultan Haji Ahmad Shah, 50480 Kuala Lumpur, Malaysia Tel: +603 - 8000 8000 Fax: +603 - 6202 9446
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MITI Jakarta Name : Tengku Kamelia Tengku Kamalludin Designation : Office Assistant MITI JakartaContact No : (+62) 21 522 4947 ext:3101Email : [email protected]