Impacts of Trade Policies on Malaysian Economy and Genting Group of Companies

This paper discusses the impacts of trade policies on the economy of Malaysia and Genting Group of Companies. It explores the trade policies implemented by the Malaysian and Australian governments and their effects on the Genting Group. The paper concludes with the potential benefits of the Free Trade Agreement between Australia and Malaysia.

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Introduction
The following paper attempts a discussion on the impacts of the trade policies that are
implemented by the countries all over the world. The paper opens with a literature review on the
importance and the impact of the trade policies on the economy of the countries in discussion.
The paper further proceeds to discuss the trade policies that are implemented by the Malaysian
government and the Australian government respectively and the impact of the policies on
Genting Group of companies. The paper nears a conclusion with the major policy that aims at
benefitting the economic conditions within the Malaysian territories.
Literature review
The trade policies that are present within the given country refer to the policies that are
implemented by the concerned country in terms of the flow maintained by the goods and the
services from one country to the other (Findlay & Garnaut, 2017). The trade policies within the
countries are inclusive of the tariffs that are maintained by the country in the matters related to
the import and the export of the goods and services, the voluntary restraints on the exports from
the country as well as the various subsidies and the quotas that are maintained in the matters that
are related to the foreign trade that is maintained among the countries (Rasiah & Thangiah, 2017;
Nasir, 2016). The countries all over the world are expected to have been following the various
regulations related to the trade in order to maintain the economic and the environmental issues
that are followed by the countries within the international markets. The trade policies that are
implemented by the country further include the domestic trade policies (Kinuthia & Murshed,
2015). The domestic policies as maintained by the organization tend to help in the distribution of
the goods and the services that are offered by the company within a certain country (Shahbaz et
al., 2015). The domestic trade policies that are maintained within the country tend to influence

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the trading activities as are maintained by the organization. Zeller and Andersen (2016) argue
that the majority of the organization tends to deal with the factors that are related to the trade
policies within the country as well as the levels of production and the welfare within the given
country.
Malaysian Governmental Policies
The country of Malaysia tends to implement the various governmental policies in the
matters that are related to the trade within the country.
Import Policies
The import policies maintained by the Malaysian government tend to impose the
requirement of the specific licenses for the import of certain products such as the explosive
materials and the firearms, various motorized vehicles, living plants that are often imported from
the other countries. The import policies are also implemented in case of certain pharmaceutical
products. The government of the country has imposed a higher duty on the import of the luxury
items like cigarettes and liquor.
Export Policies
The export policies of Malaysia helped in the earning of the greater revenues from the
export of rubber and tin. The export policies as maintained by the country has led to the
development of the revenue earnings within the country (Kinuthia & Murshed, 2015). The
encouragement is majorly derived from the attraction of the foreign investment in the products
that were manufactured by the business organizations based in Malaysia. The fiscal proceedings
that were maintained in the implementation of the required trade policies. The export policies
that were maintained by the company are known to have helped the country in maintaining the

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free trade agreements that in turn led to the development of the economic scenario of the
country. The export policies that have been maintained by the Malaysian government helped the
country survive through the financial crisis as was faced by the complete world (Shah & Khan,
2016). The Malaysian government was observed to have maintained a trade surplus even during
the conditions of the financial crisis that was faced by entire world.
FDI Policies
The Malaysian government is further observed to have been dealing with the issues
related to the foreign direct investment within the country. The policies of the foreign direct
investment or the FDI within the country help in the development of the revenue earning within
the country (Nasir, 2016). The country in discussion has been known to have implemented the
FDI policies in order to deal with the earning of the revenue within the country. The
implementation of the FDI within the financial operations of the country has led to the increase
in the economy of the country through the increase in the equity within the given market thereby
increasing the revenue earned by the country.
Australian Governmental Policies
The country of Australia is known to have developed certain policies that assist the
development of the economic conditions within the country.
Import and Export Policies
The import policies implemented by the organization tends to deal with the procuring of
all the materials from all over the world (Wu & Yu, 2017). The importing policies within the
country help in the development of the issues that arise due to the regulations implemented by
the government, the various duty taxes as well as the permits that are implemented on the

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Genting Group of companies (McKenzie, 2016). These qualities need to be maintained in order
to deal with the increase in the economy of the country as well. The export policies that are
implemented by Australian government refers to the various tariffs that are implemented within
the country for the development of the export subsidies that are maintained within the
organization (Smith, 2015).
Free Trade Agreement Policies
The country implements the Free Trade Agreements or the FTAs in order to deal with the
implementation of the import from the other international markets. The FTAs tend to deal with
the benefits towards the economy of the country (Zeller & Andersen, 2016). The major people
who have been known to benefit from the FTAs are the producers, exporters, importers and the
investors who have been involved in the development of the concerned products. The
implementation of the FTAs helps in the reduction and the elimination of the barriers that are
faced by the country in the dealings in the investments and the trade activities in the international
market. The country is known to have taken part in the over 11 FTAs with the countries all over
the world (Trakman, Walters & Zeller, 2017). The ASEAN-Australia-New Zealand
(AANZFTA) is one such policy that was implemented by the Australian government in dealing
with the business activities that are tied to the organizations based in Malaysia. These policies
have also benefitted the Genting Group of companies.
Impacts of the policies for Malaysian organization
The FTA that has been established by the Australian government tends to deal with the
development of the economy of the Malaysian government as well as the Genting Group of
companies (Thow et al., 2015). The low tariffs that are implemented by the Australian

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government helps in the development of the issues related to the improvement of the
international trade that has been existent within the two countries (Findlay & Garnaut, 2017).
The Malaysian economy as well as the Genting Group of companies might be benefitted through
the implementation of the FTA and the development of the import relations within the countries.
Conclusion
Thus, from the above discussion it might be stated that the implementation of the trade
policies within the countries help in the development of the economy of both the countries. The
countries all over the world are expected to have been following the various regulations related
to the trade in order to maintain the economic and the environmental issues that are followed by
the countries within the international markets. The trade policies that are implemented by
Malaysia further include the domestic trade policies. The export policies as maintained by
Malaysia has led to the development of the revenue earnings within the country. The export
policies that are implemented by Australian government refers to the various tariffs that are
implemented within the country for the development of the export subsidies that are maintained
within the organization. The above discussion concludes that the Malaysian economy might be
benefitted through the implementation of the FTA and the development of the import relations
within the countries.

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