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MITI: Crucial For Local Companies To Understand Workings Of Trade Remedies

[ 13-06-2014 ]
MITI: Crucial For Local Companies To Understand Workings Of Trade Remedies
GEORGE TOWN, June 12 (Bernama) -- It is crucial for local companies to understand the workings of the trade remedies system in line with the increasing involvement of Malaysian industries in the global market, an official of the Ministry of International Trade and Industry's (MITI) said.

MITI principal assistant director in the trade practices section, Mohammad Rohaimy Abdul Rahim said trade remedies are instruments to safeguard and defend the interest of the domestic industry from unfair trade practice.

"MITI is conducting various programmes for local companies on the importance of trade remedies for their exports and expanding business," he told reporters at the Seminar on Trade Remedies: Anti Dumping and Safeguard Measures, in George Town, Thursday.

Mohammad Rohaimy said trade remedies, besides promoting fair trade practices, also encourage local companies to be more competitive.

He said currently there are 12 ongoing anti-dumping cases against Malaysia involving steel, chemical and textile-based products, while 27 cases are under measure in force.

For anti-dumping cases initiated by Malaysia, Mohammad Rohaimy said there was one ongoing investigation which would be finalised soon involving newsprint, while seven cases are under measure in force.