No more duty exemptions
for 18 grades of steel imports
PETALING JAYA: From Feb 1, a total of
18 grades of steel imports will cease receiving duty exemptions, said the
International Trade and Industry Ministry (Miti).
It said in a statement that it would
also cease the issuance of Temporary Certificate Of Approval (TCOA) in 30 days
from yesterday and that companies currently utilising TCOA might be considered
for fast-track clearance for a period of six months.
“This six-month grace period is to
enable the companies to make the necessary adjustments in adhering to the
streamlined processes for the importation of iron and steel products,” Miti
said.
However, for companies that were
currently not using the TCOA facility, the present process of applying for COA
remained in place, it added.
Miti
said to facilitate clearance at the ports, importers also had the choice of having
their products tested by accredited laboratories, both domestic and foreign.
The list of accredited laboratories is available online at www.standardsmalaysia.gov.my.
International
Trade and Industry Minister Datuk
Seri Mustapa Mohamed said in the statement
that the Government would take appropriate measures to promote the development
of the domestic steel industry, adding that it would be done while respecting
Malaysia’s international obligations to promote free and fair trade.
He
said the Government’s approach would be to focus on the enforcement of
mandatory standards to prevent below-par products from entering the local
market, adding that appropriate measures would be taken to counter unfair trade
practices.
Mustapa also said he was eyeing the
establishment of an independent entity called Malaysia Steel Institute (MSI) by
the first quarter of 2013.
“The MSI will have an important role to
play, especially in human resource development, research and development,
formulation of standards and laboratory testing for the industry,” he said.
He
added that the Government would also secure better market access for Malaysia’s
steel products through free trade agreements.
“Overall,
the industry is supportive of the efforts by the Government to restructure the
industry. The implementation of the measures will further enhance the
industry’s competitiveness and help build its capacity to face challenges,” he
added.
Source: New Straits
Times
Date : 23 January 2013
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