Qatar Crisis No Effect On Malaysia’s Trade, Investment
Minister of International Trade and Industry Datuk Seri Mustapa Mohamed said the crisis between Qatar and other Gulf countries has not affected Malaysia’s trade and investment so far. He said Malaysia had close economic, trade and diplomatic ties with all the countries in the Gulf. “We have our importance in Saudi Arabia, Qatar, Dubai and all Gulf countries.”
On ASEAN integration, Datuk Seri Mustapa said ASEAN’s integration to become a single economic community is facing the challenge of constantly changing non-tariff measures and non-tariff barriers. He said unlike tariff measures which were quite stable, non-tariff measures were very dymanic and always changing. “There are now about 6,000 cases (of non-tariff measures and barriers) in ASEAN and the number keeps changing,” he told reporters after launching the region’s think tank group, ASEAN Circle, in Kuala Lumpur.
ASEAN – but not Malaysia – preferred destination for China manufacturers to relocate
China manufacturers seeking to relocate their production facilities prefer ASEAN countries. However, Malaysia is not the popular destination. According to the manufacturers surveyed by Standard Chartered (StanChart) manufacturers increasingly prefer to relocate production facilities outside of China rather than move further inland (a popular option in past years). Among those opting to move capacity overseas, Cambodia and Vietnam are the most favoured destinations, as in prior years. The report showed that less than five respondents would move capacity out of China to Malaysia in 2016. In 2017, no respondents select Malaysia as the preferred destination to relocate their manufacturing facilities to.
The StanChart special report revealed the outcome of its annual survey of Pearl River Delta (PRD). This is the eighth survey of PRD conducted. The report noted that the growing intention to move out of the mainland reflects the rapid rise in wages even in inland China cities. The manufacturers surveyed have not yet moved operations out of China.
Tigerair to operate under Scoot brand from July
Tigerair will officially come under Scoot – its sister budget airline under the Singapore Airlines Group – on July 25. The move marks the completion of the two carriers’ integration, a process which began in May last year, when they were brought under a common holding company, Budget Aviation. The airlines will operate under a common licence or Air Operator’s Certificate, and consequently, the flight designator code for all Scoot flights will be changed from TZ to TR.