M'SIA PAKISTAN FTA
- Malaysia/Pakistan FTA takes effect January 1 2008
From January 1 2008, the Malaysian business community and its
counterpart in Pakistan will benefit from a freer trade regime with
the implementation of the Malaysia-Pakistan Free Trade Agreement
(FTA), Malaysia's first FTA with a member of the Organisation of
Islamic Countries (OIC).
Malaysian palm oil companies exporting to Pakistan can look forward to
a tariff reduction of 10% in 2008 and a further 5% in 2010, making a
total of 15% Margin in Preference (MoP) on seven palm oil tariff
lines. This would benefit about 48.8% of Malaysian exports valued at
RM1.3 billion in 2006, the Ministry of International Trade and
Industry (MITI) said in a statement.
Another 41.3% of Pakistan's tariff lines will also see a reduction in
import duty over a period of five to seven years, involving imports
valued at RM489 million in 2006.
By 2012, Pakistan is committed to eliminate duties on 43.2% of tariff
lines on agriculture and industrial imports from Malaysia.
At the same time, Malaysia will eliminate import duty on 74.5% of
tariff lines covering 77.3% of imports from Pakistan, by 2012.
Malaysia is also committed to reducing import duties on 18% of tariff
lines over a period of five to seven years.
Malaysian exports that stand to gain from the tariff reduction and
elimination are fruits, natural rubber, leather, tea, cocoa, coffee,
processed food, textiles, electrical and electronic products, building
materials, and iron and steel products.
Thank you & best regards,
"TOGETHER WE ACHIEVE EXCELLENCE"
Yours in MAICCI,
(Hon. Secretary General, MAICCI)
We don't want to be like the leader in the French Revolution who
said,"There go my people. I must find out where they are going so
I can lead them." --- John F. Kennedy
Malaysian Associated Indian Chambers of Commerce & Industry (MAICCI)
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No. 12 Jalan Yap Kwan Seng
50450 Kuala Lumpur
Tel: 6 03 2171 2616
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