ECO322- malaysia - Malaysia's Trade Policy Jenny...

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Malaysia’s Trade Policy Jenny Shen (Yunchen Shen) Professor Steven Widener Southern New Hampshire University Malaysia’s Trade Policy Introduction Malaysia is a developing country in Southeast Asia. The country is one of the world‘s largest exporters of machineries. United States is the biggest trade patterns to Malaysia. Malaysia is a member of ASEAN Free Tread Area, World Trade Organization (WTO), Organization of the Islamic Conference (OIC), National Association of Manufacturers (NAM), and Asia- Pacific
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Economic Cooperation (APEC). Malaysian government uses tariff as a main strategy to regulate the import of goods. Malaysia and United States trade under the factor- endowment theory in the economic trade theory. Recently economists pay a huge attention to Malaysia exports growth because it might influence the global economy. Economy Malaysia is considering a developing country where the international trade important for this country. According to World Bank, Malaysia ranks 24th in Ease of doing business in the aspects of getting credit, protecting investor and doing trade across the border. According to World Bank, Malaysia is an upper middle income country. Malaysia’s economic has been one of Asia’s best after independent. GDP per capita in Malaysia was $14,215.00 in 2008, and the inflation rate was 0.40% in 2009. Real gross domestic product (GDP) in Malaysia grew by an average of 6.5% per year from 1957 to 2005. In 2009, Malaysia’s export was $156.40 billion, and import was $119.50 billion. (GlobalEDGE) In the past, Malaysia was well-endowed with its natural resources in an area such as agriculture, forestry and minerals. It is the net exporter of natural and agricultural resources. The most valuable exported was petroleum. At the same time, Malaysia is also the largest producer of tin, rubber and palm oil and other agricultural product. However, Malaysia remains the exporter of tin and rubber, but Malaysia is also changing form an agricultural country to industry country. Malaysia is one of the world‘s largest exporters of machineries. (GlobalEDGE) Trade Patterns Shen 2
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Table 1 is Malaysia’s exports by commodity in 2007. It shows that Malaysia is biggest exporters of machinery such as semiconductor devices, electrical goods, and information and communication technology (ICT) products. Malaysia exports 49% of machinery includes electrical machinery, appliances, nes, and electrical parts…etc. Malaysia also export thermionic,
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