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M'SIA PAKISTAN FTA

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  • S Rengasamy
    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
    Message 1 of 1 , Dec 31, 2007
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      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,



      S. Rengasamy
      (Hon. Secretary General, MAICCI)
      Email: RengasamySubramaniam@...

      Quote:

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