ANNOUNCEMENT 14 Nov 2008In November 2008, the government of Malaysia announced a change in import duties.
NUMBER OF INTERVENTIONS
Measures To Address Impact Of Global Economic Slowdown On Malaysia's Trade And Industry, Ministry of International Trade and Industry Press release, 14 November 2008
Speech By Hon. Tan Sri Dato' Muhyiddin Mohd Yassin, At The Appreciation Dinner Of The Cement And Concrete Association Of Malaysia One World Hotel, Petaling Jaya (17 October 2008).
On 18 November 2008 the Malaysian government adopted the document 'Measures To Address Impact Of Global Economic Slowdown On Malaysia's Trade And Industry', which provides for the full import duty exemption on raw materials and intermediate goods. The Ministry of International Trade and Industry considered these items 'productive imports' and the objective of duty exemptions is to reduce the cost of doing business for the manufacturing and construction sectors.
Duties ranging from 5-30 percent on over 400 products were also eliminated. The products include iron and steel products such as steel bar and wire rods; petrochemicals and chemicals such as PVC, plastics, films and sheets, polyethylene and high impact polystyrene; textile and apparels such as man-made textile materials and textile fabrics covered with polyvinyl chloride; machinery and equipment such as moulding patterns made of plastic, wood or aluminium.
International Trade Minister Muhyiddin Yassin stated the reason for introducing these measures is to help exporters avoid a slowdown and to boost construction industry.