Media Statement : Statement On The Iron & Steel Industry, Issued By The Ministry Of International Trade And Industry
The Government is determined to work with the domestic iron and steel industry to make it more competitive.
This follows the Government's decision to implement proposals derived from a study of the industry undertaken by the Boston Consulting Group. The proposals include measures to further enhance the competitiveness of the upstream and downstream industry, support access to key inputs for the industry, enhance the capabilities of the steel industry, improve standards & importation processes and enhance trade remedies. A fundamental proposal was for the establishment of a Malaysian Steel Council (MSC) to oversee and guide the development of the industry. The MSC has been formed and is chaired by the Minister of International Trade and Industry. Members of the MSC comprise representatives from all sectors of the industry as well as the Government.
MITI's Minister Dato' Sri Mustapa Mohamed has described the restructuring of the steel industry as a matter of "national importance," and that both the industry and the Government are assuming "shared responsibility" for its future. The industry and the Government will jointly undertake initiatives to further enhance the industry.
Dato' Sri Mustapa affirmed that the Government will take appropriate measures to promote the development of the domestic steel industry. This, however, will be done while respecting Malaysia's international obligations to promote free and fair trade.
He said the Government's approach will be to focus on the enforcement of mandatory standards to prevent below-par products from entering the market, adding that appropriate measures will be taken to counter unfair trade practices.
As part of the restructuring of the industry, the Government has decided that from 1 February 2013, 18 grades of steel imports (as in the appendix) will cease receiving duty exemptions.
In addition, 30 days from the date of this announcement (Tuesday, 22 January 2013), the Government will also cease the issuance of the Temporary Certificate of Approval (TCOA) and companies currently utilising TCOA may be considered for fast track clearance for a period of six (6) months. This 6-month grace period is to enable the companies to make the necessary adjustments in adhering to the streamlined processes for the importation of iron and steel products.
However, for companies that is currently not using the TCOA facility, the present process of applying for COA remains in place. To facilitate clearance at the ports, importers also have the choice of having their products tested by accredited laboratories both domestic and foreign. The list of accredited laboratories is available on STANDARDS MALAYSIA's website: www.standardsmalaysia.gov.my. Importers can also refer to SIRIM and CIDB for details.
All these measures were formulated after all the stakeholders were consulted and agreed upon by them, he said.
Dato' Sri Mustapa stressed that to become more competitive, the industry itself must achieve greater synergies between its upstream and downstream sectors.
Dato' Sri Mustapa also said that he looked forward to the establishment of the Malaysia Steel Institute (MSI) in the first quarter of 2013. The MSI will be an independent entity. "The MSI will have an important role to play, especially in human resource development, research and development, formulation of standards and laboratory testing for the industry," he said.
At the international level, Dato' Sri Mustapa said the Government's role will be to secure better market access for Malaysia's steel products through free trade agreements.
Overall, the industry is supportive of the efforts by the Government to restructure the industry. The implementation of the measures will further enhance the industry's competitiveness and help build its capacity to face challenges, he said.
Ministry of International Trade and Industry KUALA LUMPUR, MALAYSIA 22 January 2013
APPENDIX
Effective from 1 February 2013, the following 18 grades of steel imports will cease receiving duty exemptions:
No. Grades
JIS G 3132 SPHT 1 JIS G 3132 SPHT 2 JIS G 3132 SPHT 3 JIS G 3132 SPHT 4 JIS G 3101 SS 400 JIS G 3101 SS 490 JIS G 3101 SS 540 JIS G 3106 SM 490 BS EN 10025 S355JR BS EN 10025 S355J0 BS EN 10025 S355J2 BS EN 10111 DD 11 AS/NZS 1594 HA 350 AS/NZS 1594 HA 250 JIS G 3131 SPHC Cheq JIS G 3101 SS400 Cheq ASTM A 36 Cheq BS EN 10025 S 275 JR Cheq
Pls wait for 1 Malaysia steel to be introduced. Like cat 1 Malaysia. Better still wait and see who is going to jump in!......PN 17 counter from 0.10 can b com 0.01
Yes, that iamalex is controlling the movement. It can force up and also force down. No one except God knows what he is planning. Even MAMEE also dun know what is his next move. pening kelapa
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
exfx
4 posts
Posted by exfx > 2012-02-18 07:59 | Report Abuse
nubie here.. any comment