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.
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