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Malaysian govt imposes anti-dumping duty on PET
03
Oct '13
The Government of Malaysia has imposed anti-dumping duty on import of polyethylene terephthalate (PET), Dewan Rakyat, the Lower House of Malaysian Parliament, was informed, according to Bernama.
 
PET is currently imported at zero duty and to protect the interests of domestic entrepreneurs, anti-dumping duty would be levied at 49.25 percent on PET imported from Thailand until April 20, 2016.
 
The anti-dumping duty has been imposed to address the problem of dumping from countries like Thailand, and to help local companies that manufacture PET, Deputy Finance Minister Datuk Ahmad Maslan said.
 
The imposition of duty would also create a balanced competitive environment at global level between local and foreign companies, Datuk Maslan said while proposing the Customs Duty Order as a Statue Paper in Dewan Rakyat.
 
Datuk Maslan said the anti-dumping duty would be continued irrespective of whether Malaysia signs the Trans-Pacific Partnership (TPP) agreement or not.
 
The Statute Papers on imposition of duties on PET and three other industrial raw materials were endorsed by the Dewan Rakyat.
 

Fibre2fashion News Desk - India

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