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Malaysia - Latest News/Current Events, Economic Overview & Trade Relations

AEI | Quick Facts about Malaysia

Official Name Malaysia
Capital Kuala Lumpur
Location Southeastern Asia, peninsula bordering Thailand and northern one-third of the island of Borneo, bordering Indonesia, Brunei, and the South China Sea, south of Vietnam
Area total: 329,750 sq km land: 328,550 sq km water: 1,200 sq km
Climate tropical; annual southwest (April to October) and northeast (October to February) monsoons
Terrain coastal plains rising to hills and mountains

Malaysia's construction Stocks Are Ready to Grow

Malaysian construction stocks including Gamuda Bhd., IJM Corp. and WCT Bhd. are set to benefit from several "fat years" as the government accelerates a slew of development projects, Maybank Investment Bank Bhd. said.

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Malaysia: Ringgit Bond Issuance To Drop In 2009

The Malaysian Rating Corporation Bhd (MARC) is expecting that Ringgit bond issuance will drop further to between RM25 billion and RM30 billion as the global economic downturn continues.

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Malaysia To Take Extra Measures If Global Economy Worsens

Bank Negara Governor Tan Sri Dr. Zeti Akhtar Aziz said that Malaysia has the capacity to take additional measures if the global economy worsens and financial conditions fail to stabilize after the second half of the year.

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New Dutch Investment in Malaysia

The Netherlands is set to launch a new investment in Malaysia during the Netherlands' Council for Trade Promotion chairman, Jochum Haakma's visit to the country on March 25.

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Malaysia To Forge New Economic Model

Deputy Prime Minister Datuk Seri Najib Tun Razak said Thursday that Malaysia will use the current economic downturn as a springboard to forge a new economic model by using knowledge as its lead.

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Malaysia To Tap Growing Islamic Tourism

Malaysia launched the Islamic Tourism Center (ITC) today in Malacca with hopes to encourage tourist arrivals from Muslim nations and Muslim communities abroad.

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Trade Agreements

ASEAN - China Free Trade Area

The ASEAN - China Free Trade Agreement will apply in an area involving 1.7 billion consumers, making it the world's largest trading area. The agreement currently establishes a zero-tariff market. The agreement now contains trade in goods, services and dispute settlement. Investment is still under negotiation.

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ASEAN - Korea Free Trade Area

Under the ASEAN- Korea Free Trade Agreement, Korean businesses will gain access to the ASEAN market, which contains nearly 500 million people. The agreement contains trade in goods and tariffs will be either eliminated or reduced on Korean products. http://www.aseansec.org/18063.htm

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ASEAN Free Trade Area

Initiated in 1992, ASEAN Free Trade Area (AFTA) main mechanism used to reduce tariffs in ASEAN. It originally contained six members (Brunei, Indonesia, Malaysia, Philippines, Singapore and Thailand) the other four members (Vietnam -1995, Laos -1997, Myanmar-1997 and Cambodia-1999) joined after the original agreement was signed. In order to join ASEAN, they had to agree to AFTA. The overall objective of AFTA is to encourage more foreign investment to ASEAN and establish ASEAN as a world competitor by eliminating both tariff and non-tariff barriers within ASEAN. Over the next 15 years, ASEAN agreed to reduce tariffs 0-5%. http://www.aseansec.org/19346.htm

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Global System of Trade Preferences among Developing Countries

Tanzania, United Republic OfTanzania, United Republic Of
Trinidad And TobagoTrinidad And Tobago

The Global System of Trade Preferences arose out of the United Nations Group of 77. The Group first appeared interested in 1976 to develop a global system of trade for developing countries. Over years of negotiations, the agreement was signed by the participating members of the Group of 77. The members are currently looking to expand their economic ties to other developing countries in Asia, Latin America and Africa. http://www.unctadxi.org/templates/Page____6207.aspx

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Japan - Malaysia Economic Partnership Agreement

Under the Agreement, both countries will work to eliminate all tariffs within ten years. The partnership will allow Japanese firms to move into the Malaysian car market. The tariffs on Japanese cars will be eliminated by 2015. Trade in Japan is expected to increase as Japan is Malaysia’s third largest trading partner. JMEPA will strengthen the economic ties between the two countries and remains a solid basis for the facilitation of trade between the countries. http://www.mofa.go.jp/region/asia-paci/malaysia/epa/index.html

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Trade and Investment Framework Arrangement between the United States of America and the Association of Southeast Asian Nations

The Enhanced partnership between ASEAN and the United States will increase cooperation and understanding in the areas of politics, economics and safety.  EAI, Enterprise ASEAN Initiative, will strengthen economic cooperation and will allow and increase of trade and investment between both parties.  Both sides have also vowed to work together on various projects in the development arena including, fighting infectious disease and disaster relief. http://www.ustr.gov/assets/Trade_Agreements/TIFA/asset_upload_file932_9760.pdf

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Trade Organizations

ASEAN Plus 3

Forum as a coordinator of cooperation between ASEAN and China, Japan and South Korea.

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Asia-Pacific Economic Cooperation (APEC)

Asia-Pacific Economic Cooperation (APEC) is a forum for 21 Pacific Rim countries or regions (styled 'member economies') to discuss the regional economy, cooperation, trade and investment. The membership is claimed to account for approximately 41 percent of the world's population, approximately 56 percent of world GDP and about 49 percent of world trade. The activities, including year-round meetings of the members' ministers, are coordinated by the APEC Secretariat.

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Association of Southeast Asian Nations (ASEAN)

Association of Southeast Asian Nations, commonly referred to as ASEAN, is a geo-political and economic organization of 10 countries located in Southeast Asia, which was formed on August 8, 1967 by Indonesia, Malaysia, the Philippines, Singapore and Thailand. Its aims include the acceleration of economic growth, social progress, cultural development among its members, and the promotion of regional peace.

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A subregional economic cooperation initiative involving 4 Southeast Asia Nations

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Council for Security Cooperation in the Asia Pacific (CSCAP)

The Council for Security Cooperation in the Asia Pacific (CSCAP) is a non-governmental (second track) process for dialogue on security issues in Asia Pacific.

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East Asia Summit (EAS)

The East Asia Summit (EAS) is a Pan-Asia forum of 16 countries in East Asia, with ASEAN in a leadership position.

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