ID :
58117
Wed, 04/29/2009 - 10:18
Auther :

BILL ON FAIR TRADE PRACTICES TO BE TABLED END OF THE YEAR




KUALA LUMPUR, April 29 (Bernama) -- The Malaysian government is in the final
stage of drafting a Bill on fair trade practices which is expected to be tabled
in Parliament, the latest, at the end of the year.

Domestic Trade and Consumer Affairs Minister Ismail Sabri Yaakob
said the bill was aimed at nurturing fair trade practices, competitiveness,
apart from enhancing market efficiency to provide healthy competition for
traders as well as enable consumers to get goods and services at reasonable
price and quality.

He said the ministry, with the cooperation of the Federation of Malaysian
Consumers Associations (Fomca) would also form a committee to expedite drafting
of the proposed amendments to the Consumer Protection Act, which would be tabled
in Parliament at the same time.

"It's now up to the Attorney-General's Office. After that we will table it
to the Cabinet and after getting the Cabinet's approval, we will table it in
Parliament," he told reporters after a dialogue with Fomca here Tuesday.

Ismail Sabri said the ministry would also expedite enforcement on
regulations on product safety for children's toys.

In another development, Ismail Sabri said Perbadanan Nasional Berhad (PNS)
(Malaysia's biggest fund management company) would strive to bring local
business franchises to international level.

"We will participate in more international trade missions, either by
bringing our franchisors to promote their brands overseas, or find foreign
business franchises to come to our shores," he added.

He said currently, there were about 20 local business franchisers operating
in about 50 countries, mainly in the food and service sectors.

On the swine flu development, he said it had no effect on the demand or
price of pork in the market yet.

-- BERNAMA

X