Malaysian Exports To Benefit From Eu Import Tariff De‐Regulation: MITI

KUALA LUMPUR, Jan 27 (Bernama) -- 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 Jan 1, 2016 onwards. Beginning this year, the EU is implementing autonomous tariff suspension for 2,433 products (up from about 1600 products in 2011) and autonomous tariff quota for 113 products (up from 84 products in 2013). The Malaysian Ministry of International Trade and Industry (MITI) in a statement here said Malaysian exporters should take advantage of these new measures to further expand their market access in Europe. The implementation of these policies can expand opportunities for Malaysian exporters in sectors including automotive parts, boards and panels equipped with switchboards, clothing and apparel, furniture, glass fibres, miscellaneous loudspeakers/headphones, palm oil, plastic products as well as television parts, it said. In principle, these tariff suspensions and quotas will impact these sectors for the exports of raw materials, semi-finished goods and components, it said. The tariff suspensions and quotas are, however, not provided for finished products. 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 on goods imported into the EU. It usually lasts for a period of five years. "Malaysian exporters can leverage on MITI's office in Brussels as well as Malaysia External Trade Development Corporation (MATRADE) offices in Europe, namely in London, Frankfurt, Milan, Warsaw, Paris and Rotterdam for facilitation and support," said MITI. It added 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 the 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, with recent reviews 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. --BERNAMA