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FTA draws textile units from China

22
Jan '07
Many international textile companies are planning to shift their operation to Malaysia from China after the signing of Malaysia-US Free Trade Agreement (FTA).

As FTA is just round the corner, flow of foreign direct investments (FDIs) has shifted back to Malaysia to take advantage of the favorable situation.

With the shift in FDI flow, thousands of employment opportunities are expected to be created in the country.

Currently, export duty to US is between 12 to 32 percent and it will be abolished after implementation of FTA.

In 2005, exports stood at RM10.3 billion, with over 20 percent exported to US.

In 2006, textile exports are estimated between 5 to 7 percent compared to 6.2 percent in previous year.


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