NAM NEWS NETWORK | Feb 12th, 2010

Malaysia govt will address concerns over surge in imports from China

KUALA LUMPUR, Feb 12 (NNN-BERNAMA) — The Malaysian government is seeking the best solution to address the concerns of local manufacturers over a sudden surge in imports of China-made products into he country following the implementation of a free trade agreement (FTA) between The Asian economic powerhouse and the Association of South East Asian Nations (Asean) of which Malaysia is a member.

“We understand their concerns and are looking at how best to address them. But placing a cap (on imports from China) may not be the best solution,” International Trade and Industry Deputy Minister Mukhriz Mahathir told reporters here Thursday.

He was commenting on a suggestion by the Associated Chinese Chamber of Commerce and Industry of Malaysia (ACCCIM) that the government restrict the import of Chinese goods which were beginning to flood the market after the China-Asean FTA came into effect on Jan 1.

ACCCIM President William Cheng said this week that many manufacturers were struggling to survive after the influx of Chinese goods and recommended that representation be made to the Chinese Minister of Commerce to regulate the volume of Chinese exports to Asean.

He suggested that China increase its annual exports to Asean countries by only 10 per cent of the previous year’s export level. — NNN-BERNAMA