WEDNESDAY, FEBRUARY 27, KUALA LUMPUR : Malaysian exporters may gain from a recent decision by the European Union (EU) to review its autonomous tariff suspensions and quotas to the EU from 1 January 2016 onwards.
Beginning this year, the EU implemented autonomous tariff suspension for 2,433 products (increased from approximately 1600 products in 2011) and autonomous tariff quota for 113 products (increased from 84 products in 2013).
Tariff suspensions and quotas are part of the EU’s autonomous liberalisation schemes, and provide temporary exceptions to the EU’s application of normal customs duty rate to goods imported into the EU. It usually lasts for a period of five years.
The implementation of these policies can expand opportunities for Malaysian exporters in sectors including automotive parts, boards and panels equipped with switchboards, clothing and apparels, furniture, glass fibres, miscellaneous loudspeakers/headphones, palm oil, plastic products, as well as television parts.
In principle, these tariff suspensions and quotas will impact these sectors for the exports of raw materials, semi-finished goods and components. The tariff suspensions and quotas, are however, not provided for finished products.
The Ministry of International Trade and Industry (MITI) said Malaysian exporters should take advantage of these new measures to further expand their market access in Europe. Malaysian exporters can leverage on MITI’s office in Brussels as well as MATRADE offices in Europe, namely in London, Frankfurt, Milan, Warsaw, Paris and Rotterdam for facilitation and support.
MITI said that the new measures would especially benefit Malaysian exporters who currently focus on exports of parts and components such as those involved in the automotive and electrical and electronic sectors. The furniture sector which in the past was focused on exports of finished products into EU can leverage on this new rules to strengthen exports of parts and components related to the furniture sector.
Tariff suspensions and quotas were first introduced by the EU Commission in 1998. Since then, the lists of eligible products have been periodically reviewed, where recent reviews were held in 2011 and 2013.
These autonomous measures are aimed at providing EU enterprises with increased access to inputs, by importing goods at zero or reduced duty rates.
Details of these measures can be obtained from:
i) Autonomous tariff suspension:
ii) Autonomous tariff quota:
About MITI :
The Ministry of Commerce and Industry was established in April 1956 then was renamed as The Ministry of Trade and Industry in February 1972. On 27 October 1990, the Ministry was separated into two Ministries which are; Ministry of International Trade and Industry (MITI) and Ministry of Domestic Trade and Consumer Affairs (KPDN).
MITI is the key driver in making Malaysia the preferred destination for quality investments and enhancing the nation's rising status as a globally competitive trading nation. Its objectives and roles are oriented towards ensuring Malaysia’s rapid economic development and help achieve the country's stated goal of becoming a developed nation by 2020.
Media enquiries :
Ministry of International Trade & Industry
Strategic Communications Unit
Tel : +603 6200 0082
Fax : +603 6206 4293
E-mail : firstname.lastname@example.org
Last Updated 2016-03-15 13:29:54 by Azuna Hasbullah atau Abd Rahman