NINE anti-dumping measures have been imposed while four investigations targeting iron, steel and plastic products are ongoing as part of the action in addressing imports from China, says Tengku Datuk Seri Zafrul Tengku Abdul Aziz.
The Investment, Trade and Industry Minister said his ministry had the power to conduct investigations, and to determine and recommend the imposition of countervailing or anti-dumping duties to protect local industries from unfair trade practices.
“This policy is aligned with international regulations under World Trade Organisation agreements, to ensure local industries remain unaffected by imported goods sold at lower prices domestically, compared with export countries,” he said in a written reply to questions from Datuk Mohd Shahar Abdullah (BN-Paya Besar).
Mohd Shahar had asked about the government’s anti-dumping policies and strategies for improving the shrinking trade balance.
On the trade balance, Tengku Zafrul said Malaysia had recorded a trade surplus over 53 consecutive months since May 2020.
“As a trading nation, Malaysia practises open and progressive trade policies. Among key strategies to expand market access for Malaysian products and services is the signing of free trade agreements (FTAs).
“Malaysia has to date entered into 16 FTAs, both bilaterally and multilaterally,” he said.
The minister said that the Malaysia External Trade Development Corporation (Matrade) would also promote exports to new markets through its 49 trade offices worldwide.
“These offices help explore new export opportunities, strengthen international business networks and coordinate Malaysian companies’ participation in major trade expos,” he added.
“The impact of these efforts is evident in Malaysia’s trade value from January to September this year, which increased by 10.9% to RM2.139 trillion compared with the same period in 2023.
“Exports rose by 6% to RM1.115 trillion while imports totalled RM1.024 trillion, resulting in a trade surplus of RM91.21bil,” he added.
