Page 178 - Malaysia 2016
P. 178
2016
INTRODUCTION managed to secure RM1.08 billion in
potential investment projects.
The Ministry of International Trade and
Industry was established in April 1956 and
is based at the Government Office, at
Jalan Raja, Kuala Lumpur. In February
1972, the Ministry was renamed the
Ministry of Trade and Industry. Later, on
27 October 1990, the Ministry was split
into two separate ministries, namely
the Ministry of International Trade and
Industry (MITI) and the Ministry of Domestic
Trade, Cooperatives and Consumerism
(MDTCC).
ACTIVITIES AND
ACHIEVEMENTS
Economic and Trade Relations
Trade And Investment Mission (TIM), Saudi Arabia,
7-9 November 2015
Trade And IanvnedsFtmraenncteM, 7is-s1io4nM(aTIyM2),0I1ta5ly, Belgium, MITI’s focus for this TIM was to deepen the
existing collaborative relationships and to
promote bilateral trade and investment.
Malaysia and Saudi Arabia proposed a
revamp of the Malaysia- Saudi Arabia
Business Council and the signing of a
Memorandum of Understanding based
on economic and trade cooperation. On
the other hand, trade between the two
nations had risen to USD4.0 billion in 2014
from USD3.0 billion in the previous year.
On 7 to 14 May 2015, the Trade and Talks were also held between the
Investment Mission (TIM) to Milan, Brussels, Minister of International Trade and
and Paris informed and updated the Industry, Malaysia and the Minister of
business and investment communities Commerce and Industry, the Ministry
in Europe about the current economic of Health and the Makkah governor,
and business opportunities available Saudi Arabia. The meetings agreed to
in Malaysia; clarified on the status reactivate negotiations on the Malaysia-
of FTA negotiations on MEUFTA and Gulf Cooperation Council (GCC) free
Malaysia’s commitment to resume the trade agreement covering Saudi Arabia,
stalled negotiations; shared with the the United Arab Emirates, Qatar, Oman,
foreign business community, Malaysia’s Kuwait and Yemen. MITI also conveyed
economic management in the face of the interest of Malaysian corporations to
financial volatility and the fall in global invest in Saudi Arabia’s digital autopsy
commodity and oil prices and reiterated services, hospital information technology
Malaysia’s welcome to FDIs and management and medical devices
collaborative joint-ventures. This mission sectors.
INTRODUCTION managed to secure RM1.08 billion in
potential investment projects.
The Ministry of International Trade and
Industry was established in April 1956 and
is based at the Government Office, at
Jalan Raja, Kuala Lumpur. In February
1972, the Ministry was renamed the
Ministry of Trade and Industry. Later, on
27 October 1990, the Ministry was split
into two separate ministries, namely
the Ministry of International Trade and
Industry (MITI) and the Ministry of Domestic
Trade, Cooperatives and Consumerism
(MDTCC).
ACTIVITIES AND
ACHIEVEMENTS
Economic and Trade Relations
Trade And Investment Mission (TIM), Saudi Arabia,
7-9 November 2015
Trade And IanvnedsFtmraenncteM, 7is-s1io4nM(aTIyM2),0I1ta5ly, Belgium, MITI’s focus for this TIM was to deepen the
existing collaborative relationships and to
promote bilateral trade and investment.
Malaysia and Saudi Arabia proposed a
revamp of the Malaysia- Saudi Arabia
Business Council and the signing of a
Memorandum of Understanding based
on economic and trade cooperation. On
the other hand, trade between the two
nations had risen to USD4.0 billion in 2014
from USD3.0 billion in the previous year.
On 7 to 14 May 2015, the Trade and Talks were also held between the
Investment Mission (TIM) to Milan, Brussels, Minister of International Trade and
and Paris informed and updated the Industry, Malaysia and the Minister of
business and investment communities Commerce and Industry, the Ministry
in Europe about the current economic of Health and the Makkah governor,
and business opportunities available Saudi Arabia. The meetings agreed to
in Malaysia; clarified on the status reactivate negotiations on the Malaysia-
of FTA negotiations on MEUFTA and Gulf Cooperation Council (GCC) free
Malaysia’s commitment to resume the trade agreement covering Saudi Arabia,
stalled negotiations; shared with the the United Arab Emirates, Qatar, Oman,
foreign business community, Malaysia’s Kuwait and Yemen. MITI also conveyed
economic management in the face of the interest of Malaysian corporations to
financial volatility and the fall in global invest in Saudi Arabia’s digital autopsy
commodity and oil prices and reiterated services, hospital information technology
Malaysia’s welcome to FDIs and management and medical devices
collaborative joint-ventures. This mission sectors.
