Malaysia Collects RM500 Mln In Anti-dumping Duties Between 2016 To June 2024 -- Liew
KUALA LUMPUR, Oct 30 (Bernama) -- Malaysia has collected an estimated RM500 million in anti-dumping duties between 2016 and June 2024 to mitigate the effects of “unfair” imports, said the Ministry of Investment, Trade and Industry (MITI). Ministry of Innovation, Trade and Industry (MITI).
Its Deputy Minister Liew Chin Tong said this significant figure highlights the substantial impact of unfair trade practices on the domestic industries and reinforces the critical need for strong trade defence mechanisms.
“In 2024, MITI has received 12 applications for anti-dumping investigations so far, from key industries like iron and steel, building materials, chemicals, and plastics, as opposed to three applications in 2023.
“This is a clear indicator of the challenges our domestic producers face due to dumped imports,” he said in his speech at the soft launch of the Trade Remedies Investigation Management System (TRIMA) today.
Thus, Liew said TRIMA is essential as the system will streamline and enhance the process for submitting anti-dumping and countervailing applications, offering a more efficient and accessible platform.
“TRIMA is a key initiative under MITI’s Strategic Digitalisation Plan 2021-2025. It also supports the Madani Government’s commitment to public sector digitalisation, as outlined in the Public Sector Strategic Digitalisation Plan 2021–2025 and the MyDigital Blueprint,” he noted.
Liew said TRIMA’s key features include cost reduction, among others, of which the current physical submission process is replaced by digital submissions, eliminating the need for printing.
Another key feature of the system is convenience, where applications can now be submitted from anywhere in the world, facilitating participation from both domestic and international stakeholders. Security is also a key feature, where TRIMA ensures the confidentiality of sensitive corporate information, with access limited to authorised parties.
“Even with our existing system, Malaysia has one of the swiftest timelines for trade remedy investigations, globally. TRIMA will further enhance this efficiency, potentially shortening the statutory nine-month investigation period,” he said.
He highlighted that TRIMA provides real-time, online access to past and current investigation documents, adding that TRIMA will serve as a single window for all trade remedy-related matters, streamlining the protection process against unfair trade practices.
Looking ahead, Liew said MITI plans to integrate big data analytics and artificial intelligence (AI) into TRIMA, allowing the ministry to identify trends and detect potential trade threats.
“In addition to this, MITI is currently undertaking a review of the Countervailing and Anti-Dumping Duties Act 1993 and the Countervailing and Anti-Dumping Duties Regulations 1994. These legislations were last reviewed in 1999,” he noted. “With the ever-changing business models, technology and means of doing business, there is a need to review and update the act and regulations to adequately protect the interest of domestic industries.”
Among the objectives of the review are to provide clarity such as changes to language and ensure flow and “logical coherence” to convey the intended meaning of the law and inclusion of provisions on the investigation process and procedures, including reviews to ensure consistency with the WTO Anti-dumping agreement (ADA) and WTO Agreement on Subsidies and Countervailing Measures (ASCM).
“MITI hopes that the review will further strengthen the trade remedies framework to enable Malaysia to investigate and take action against unfair trade practices,” he added.
-- BERNAMA