Asean Members Need To Re-Look At Implementation Of Non-Tariff Barriers - IDEAS

KUALA LUMPUR, Sept 15 (Bernama) -- ASEAN member countries need to re-look at the implementation of non-tariff barriers to ensure that they do restrict the entry of foreign companies. Chief Executive Officer of Institute of Democracy and Economic Affairs (IDEAS), Wan Saiful Wan Jan, although the tax rates for exports and imports had been reduced to near zero now, investors had unknowingly imposed new restrictions in efforts to protect the interests of local industries. "Currently, ASEAN functions as an entity without a central command centre. The members adopt policies based on their respective interests and they have to entertain demand from local stakeholders. "As a result, although the actual tariffs had been reduced to near zero, many new restrictions have been introduced which dampen the interests of foreign entrepreneurs and investors from investing the country," he said. Wan Saiful said this to reporters at the ASEAN Economic Integration Forum 2016 here Wednesday. He gave an example of a country which has a law which required a certain type of fruit to be cooled to a certain degree and kept for a few days before being allowed to be brought in. The move, which would help local fruit entrepreneurs, would increase the costs of the investors, he said. "All these should be reviewed seriously if we want to address the issue of integration among ASEAN member countries," he said. IDEAS is a Malaysian libertarian think tank dedicated to promoting market-based solutions to public policy challenges. --BERNAMA