Malaysia
Introduction
The Trade Policy Review Mechanism (TPRM) was first established on a trial basis by the GATT contracting parties in April 1989. The Mechanism became a permanent feature of the World Trade Organization under the Marrakesh Agreement which established the WTO in January 1995.
Report by the WTO Secretariat
Malaysia is a middle-income country with a diverse economy. Trade is very important with exports and imports of goods and services equivalent to about 130% of GDP. For the past four years real GDP growth has averaged nearly 5% despite a number of external and domestic shocks including global commodity price and financial market volatility weak external demand and domestic political controversy. Growth has been based on domestic demand and helped by the diversified production and export base a flexible exchange rate responsive macroeconomic policies and strong financial markets.
Introduction
The Trade Policy Review Mechanism (TPRM) was first established on a trial basis by the GATT contracting parties in April 1989. The Mechanism became a permanent feature of the World Trade Organization under the Marrakesh Agreement which established the WTO in January 1995.