17 November 2008 11:30 [Source: ICIS news]
SINGAPORE (ICIS news)--Malaysia will scrap import duties on products including petrochemicals and chemicals from early December to cushion industries from the global economic slowdown, said ministry docuements made available to ICIS news on Monday..
The move, based on documents from the Ministry of International Trade and Industry, would bring down costs for the country’s manufacturing and construction sectors.
The list of 438 products included iron and steel products, petrochemicals and chemicals, textiles and apparel, machinery and equipment and goods.
Full duty-exemption will apply to those raw materials and intermediate goods to be used for domestic manufacturing activities or those considered as “productive imports,” the ministry said.
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections