Government TPR |
WT/TPR/G/366 |
G-IV§12 |
Malaysia |
2017 |
Measures |
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Agriculture |
Relevant information
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On 4 April 2017, the European Parliament adopted the Resolution on Palm Oil and Deforestation of Rainforest as a move to introduce minimum sustainability criteria for palm oil and palm oil-based products that enter the EU market. According to the EU, this is to ensure that palm oil imported into the EU has not led to deforestation and not given rise to economic, social and environment problems and conflicts, such as child and forced labour. To achieve this, various measures were proposed by the EU, including the ban of palm oil in biofuels, switching to a single EU-wide sustainability certification, introduction of discriminative tariffs between certified and sustainable palm oil (CSPO) and non-CSPO and allowing only sustainable certified palm oil to be imported into the EU after 2020. The EU explained this is part of their commitments in various international sustainable-related agreements, such as the Paris Agreement and the 2030 Agenda on Sustainable Development.
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Keywords
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Forest
Sustainable
Environment
Bio
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Government TPR |
WT/TPR/G/366 |
G-IV§13 |
Malaysia |
2017 |
Measures |
Technical regulation or specifications |
Agriculture |
Relevant information
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The EU is the third largest market for palm oil, while Malaysia is one the largest producers and exporters of palm oil products in the world. The EU Resolution is seen as discriminatory to palm oil and would result in NTBs that have adverse impact on Malaysia’s palm oil exports to the EU. As part of Malaysia’s commitment to sustainable oil palm cultivation, the Malaysian Sustainable Palm Oil (MSPO) Scheme on a voluntary basis has been implemented since January 2015. MSPO has been developed based on domestic laws and regulations, and best practices on sustainability. To support MSPO implementation, the Malaysian Palm Oil Certification Council was also established in 2014. To promote certified sustainable palm oil and further strengthen the image of the palm oil industry, in 2017, the Government announced the mandatory implementation of MSPO certification to nationwide palm oil producers and processors by 31 December 2019.
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Keywords
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Government TPR |
WT/TPR/G/366 |
G-IV§14 |
Malaysia |
2017 |
Sectors |
General environmental reference |
Agriculture |
Relevant information
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Other initiatives include a joint seminar by the Friends of Palm Oil (FPO), namely Malaysia, Indonesia, Thailand, Colombia, Guatemala, Ecuador, Costa Rica and Honduras on “Sustainability and NTBs to Trade – The case study of palm oil” held on 26 September 2017 on the side-lines of the WTO Public Forum. The session involving presentations by nine panellists from the Government and private sectors, as well as non-governmental organisations (NGOs), was held to negate and correct the negative perception on palm oil based on factual and scientific evidence, showcase respective Governments’ initiatives towards various sustainability criteria, as well as challenges faced by FPO due to unjustified NTBs imposed by some WTO members.
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Keywords
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Government TPR |
WT/TPR/G/366 |
G-V§34 |
Malaysia |
2017 |
Measures |
Other price and market based measures |
Services |
Relevant information
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Recognising the importance of green finance as a new asset class, the SC through the ACMF took a leadership position in driving the agenda in the ASEAN region, beginning with its efforts to develop ASEAN Green Bond Standards (GBS). In March 2017, an announcement on the cooperation between ACMF and the International Capital Market Association (ICMA) was made to introduce ASEAN GBS that will be applied across capital markets in ASEAN. This initiative will facilitate ASEAN capital markets in tapping green finance to support sustainable regional growth and as an avenue to meet investors who are interested in green investments. It is also a part of ACMF’s broader efforts in developing green finance for the region.
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Keywords
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Government TPR |
WT/TPR/G/366 |
G-V§37 |
Malaysia |
2017 |
Trade Policy Framework |
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Relevant information
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To further drive the development and growth of Malaysia’s ICM (Islamic Capital Market), the SC launched a five-year Islamic Fund and Wealth Management Blueprint (Blueprint) on 12 January 2017. The Blueprint identifies strategies and key initiatives to strengthen Malaysia’s positioning as a global hub for Islamic funds. It also aims to establish Malaysia as a regional centre for Shariah-compliant sustainable and responsible investment (SRI), leveraging Malaysia’s position as the largest SRI market in Asia.
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Keywords
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Government TPR |
WT/TPR/G/366 |
G-V§38 |
Malaysia |
2017 |
Measures |
Other price and market based measures |
Services |
Relevant information
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The SRI (sustainable and responsible investment) Sukuk Framework launched on 28 August 2014 is an extension of the existing sukuk framework, and aims to facilitate the financing of sustainable and responsible investment initiatives. The Framework identifies four broad areas for determining project eligibility namely natural resources, energy-related, social impact and waqf.
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Keywords
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Natural resources
Sustainable
Energy
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Government TPR |
WT/TPR/G/366 |
G-V§39 |
Malaysia |
2017 |
Measures |
Other price and market based measures |
Services |
Relevant information
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Sukuk that has been issued under the SRI (sustainable and responsible investment) framework include a social impact sukuk as well as Malaysia’s first green sukuk which was issued on 27 July 2017. The green sukuk is envisaged as an innovative instrument to address global funding gaps in green financing.
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Keywords
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Government TPR |
WT/TPR/G/366 |
G-VI§6 |
Malaysia |
2017 |
Trade Policy Framework |
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Relevant information
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As one of the 17 megadiverse countries globally, Malaysia’s biological diversity is among the richest in the world – harbouring an enormous range of plants, animals and marine life, which has created a unique ecosystem. However, Malaysia’s biodiversity has continuously faced challenges and threats caused by internal and external factors, including environmental changes brought about by socio-economic and trade activities of the people.
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Keywords
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Government TPR |
WT/TPR/G/366 |
G-VI§7 |
Malaysia |
2017 |
Trade Policy Framework |
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Relevant information
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To mitigate the impacts of such changes, the Government introduced the National Policy on Biological Diversity 2016-2025 (NPBD) to serve as a national guide for biodiversity management over the next 10 years. It also reflects the Government’s effort and initiative to strongly and continuously emphasize on continued conservation, sustainable utilization and shared benefits from biodiversity in a fair and equitable manner, as well as to strengthen the involvement and participation of all relevant stakeholders. More recently, the NPBD is also becoming a template for economic drive for sectors related to conservation, preservation and protection of biodiversity such as ecotourism.
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Keywords
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Bio
Conservation
Sustainable
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Government TPR |
WT/TPR/G/366 |
G-VI§8 |
Malaysia |
2017 |
Trade Policy Framework |
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Relevant information
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The Ministry of Natural Resources and Environment (NRE) plays the leading role in the implementation and monitoring of the NPBD (National Policy on Biological Diversity), including providing overall direction, coordinating stakeholder actions, establishing the appropriate institutional platforms, facilitating resource mobilisation and initiating review of the Policy as necessary. NRE undertakes this role in consultation, coordination, cooperation and partnership with state governments, relevant government bodies, private sector, civil society, as well as indigenous people and local communities.
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Keywords
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