Bernama.com (Malaysian National News Agency), 23 August 2006 16:07 PM

M'sia To Eliminate Duties On 1,926 Products

KUALA LUMPUR, Aug 23 (Bernama) -- Malaysia will eliminate duties on 1,926 products under the 11 priority integration sectors (PIS) effective Jan 1, 2007 as part of its commitment towards regional economic union.

Duties on 11 additional products comprising healthcare, chemicals and pharmaceuticals would be eliminated no later than March next year, the Ministry of International Trade and Industry (MITI) said Wednesday.

It said the decision, made during the Asean Economic Ministers (AEM) meeting, would finalise the roadmap for sectoral integration for the logistic service sector by April or May next year.

"The development of this roadmap is in line with Malaysia's effort to strengthen and increase the efficiency of the logistic sector as reflected in the Third Industrial Master Plan," it said in a statement.

To effect the implementation of the improvements made to the PIS Roadmap, three protocols will be signed by the economic ministers at the 12th Asean Summit in Cebu in December.

The protocols are to amend the Asean Framework Agreement for PIS and to amend the 11 protocols on sectoral integration.

-- BERNAMA