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WAN WADRINA WAN ABDUL WAHAB MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY MALAYSIA RCEP 1 IMPACT ON EAST ASIA INVESTMENT.

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Presentation on theme: "WAN WADRINA WAN ABDUL WAHAB MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY MALAYSIA RCEP 1 IMPACT ON EAST ASIA INVESTMENT."— Presentation transcript:

1 WAN WADRINA WAN ABDUL WAHAB MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY MALAYSIA RCEP 1 IMPACT ON EAST ASIA INVESTMENT

2 REGIONAL COMPREHENSIVE ECONOMIC PARTNERSHIP ASEAN-driven builds on existing ASEAN FTAs open accession + economic and technical cooperation special and differential treatment WHAT IS RCEP ? AUSTALIA BRUNEI CAMBODIA CHINA INDIA INDONESIA JAPAN KOREA LAO PDR MALAYSIA MYANMAR NEW ZEALAND PHILIPPINES SINGAPORE THAILAND VIETNAM 2

3 RCEP : Integral Part of AEC

4 RCEP: Guiding Principles and Objectives for Negotiating modern, comprehensive, high-quality mutually-beneficial economic partnership

5 Goods Services Investment Economy & Technology Cooperation IP Competition, legal, institutional matters, other issues RCEP : What Does it Cover?

6 Investment Chapter liberal, facilitative, competitive regional investment environment Negotiations cover four pillars: -promotion -protection -facilitation -liberalisation

7 RCEP : Where are We? 2012 201320142015 End of 2015 9 Rounds of negotiations 9 Rounds of negotiations Launched Nov Conclusion?

8 8 WHY RCEP? Single Integrated Market offering increased business opportunities : Investment Trade in Services SMEs Trade in Goods

9  more than 3 billion people  combined GDP of more than US$17 trillion  over 40% of world trade  In 2014, increase of FDI in flows ASEAN – US$133 billion (5%) and RCEP – US$363(4%) WHY RCEP ? 9

10 10 RTA Trade with the World (%) Market Size (mil) Economic Size (US$ tril) External Trade (US$ tril) Intra- Regional Trade (US$ tril) Emerging regional ARCHITECTURE …

11 11 WHY RCEP? Expansion of intra-regional trade and integrated supply chain:

12 12 WHY RCEP? Expansion of intra-regional investment: During 2012-2014: FDI Inflows into ASEAN : US$136.2 Billion (44.5% from RCEP countries)

13 IN MALAYSIA

14 14 2015 : Malaysia : Chair of ASEAN Major milestone year: realisation of the ASEAN Community will be announced. Malaysia’s Chairmanship : critical in ensuring priority initiatives for the AEC are in place, the integration process be seamlessly continued beyond 2015.

15 AEC: Challenges being Addressed Tariff and NTBs, Local Protectionism Inconsistent Regulations Across ASEAN Weak Infrastructure Links Diverse Levels of Market Maturity Restrictions on Foreign Investment and Labour Shortages of the Right Types of Workers Cultural Diversity Across ASEAN

16 Are ASEAN Member States Ready for AEC 2015? 16 EconomyEase of Doing Business Rank (Out of 189) Starting a Business Getting Credit Protecting Minority Investors Paying Taxes Trading Across Borders Singapore1617351 Malaysia18132353211 Thailand267589256236 Vietnam781253611717375 Philippines9516110415412765 Brunei Darussalam101179891103046 Indonesia114155714316062 Cambodia135184129290124 Lao PDR148154116178129156 Myanmar177189171178116103 Source: WB Doing Business 2015

17 MALAYSIA : DOMESTIC INITIATIVES

18 18  Manufacturing and services sectors towards higher value- added, knowledge intensive and higher technology: - Manufacturing :Full liberalisation since 2003 - Services:Progressively liberalising the 27 services subsectors  Entrepreneurial skills and promoting the development of SMEs.  Reducing regulatory barriers in order to improve the environment for businesses.  Attracting skilled talent from abroad to sustain growth of a knowledge-based and innovative economy.  Promoting regional growth and inclusiveness. INVESTMENT AND INDUSTRALISATION POLICY

19 19 INVESTMENT AND INDUSTRALISATION STRATEGIES Investment Agreements i.e. regional and bilateral FTAs, to enhance foreign investors’ confidence in Malaysia Ecosystem approach to promote the entire value chain of industry clusters Malaysian Investment Development Authority (MIDA) as the lead investment agency in Malaysia Continuous improvement of business regulatory

20 Source : Global Competitiveness Report, World Economic Forum (WEF) n refers to number of participating countries Malaysia Is Competitive Globally 20

21 Thank you Block 10, Government Offices Complex, Jalan Duta, 50622 Kuala Lumpur, Malaysia Tel: 603-8000 8000 | Fax: 603-6201 2337 Email: webmiti@miti.gov.my | Website: www.miti.gov.my


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