MITI REVIEWING COUNTERVAILING AND ANTI-DUMPING DUTIES ACT 1993

KUALA LUMPUR, July 24 (Bernama) -- The Ministry of Investment, Trade and Industry (MITI) is in the process of reviewing the Countervailing and Anti-Dumping Duties Act 1993 (Act 504), said Deputy Minister Liew Chin Tong.

He said the amendment to Act 504 is expected to be tabled in Parliament in January 2025.

In the meantime, he said the government supports the measures to protect small and medium enterprises (SMEs) from the effects of unfair trade following the influx of cheap imported goods in large quantities, including from China through the enforcement of trade remedies.

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Among the remedial measures taken are the imposition of anti-dumping duties, countervailing duties and protective duties, he said.

"MITI implements this trade remedy action in accordance with national legislations namely Act 504 and the Countervailing and Anti-Dumping Duties Regulations 1994 (1994 Regulations).

"This trade remedy action is aimed at overseas manufacturers or exporters that result in harm to local industries including SMEs in Malaysia and the scope of its imposition includes all local industries," he said during a question and answer session at the Dewan Negara today.

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He was resplying to Senator Tan Sri Low Kian Chuan's question about the ministry's efforts to support SMEs in Malaysia in overcoming the impact of Chinese business entry.

Liew added that between 2015 and 2023, MITI had enforced nine anti-dumping measures against Chinese exporters to protect local industries from unfair trade practices.

-- BERNAMA