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[ 14-05-2014 ]
MITI Always In Active Consultation With Steel Stakeholders
KUALA LUMPUR, May 7 (Bernama) -- The International Trade and Industry Ministry (MITI) today clarified that measures taken pertaining to the steel industry in the country were done after consultation with all stakeholders.

It said the implementation of the measures were expected to enhance the industry's competitiveness and help build capacity.

"However, to become more competitive, the industry itself must achieve greater synergies between its upstream and downstream sectors," MITI said in a statement today to clarify various comments in the local media about the industry.

The government has implemented proposals derived from the Boston Consulting Group study in 2012 to overcome the challenges faced by the industry, it said.

The proposals included measures to further enhance the competitiveness of the upstream and downstream industry, support access to key inputs, improve standards and importation processes and enhance trade remedies.

A fundamental proposal is for the establishment of a Malaysian Steel Council and technical working groups to oversee and guide the development of the industry, MITI said.

"The council is chaired by the minister and comprises representatives from all sectors of the industry, as well as, the government," it said.

In August 2013, mandatory standards came into force to address safety and quality concerns.

To counter unfair trade practices in the domestic market, MITI said the government imposed anti-dumping measures on several imported steel products.

From Feb 1, 2013 the government ceased granting duty exemptions on a total of 18 grades of steel imports.

MITI also said the Malaysia Steel Institute was also established in January as an independent entity recommended by the industry.

At the international level, it said the government would continue to secure better market access for Malaysia's steel products through free trade agreements.

"This, however, will be done while respecting Malaysia's international obligations to promote freer and fair trade," MITI added.

-- BERNAMA
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