NEW DELHI: Malaysia’s export of rubber medical gloves to India will increase further after the import tariff falls to zero by September 2013, Plantation Industries and Commodities Minister Tan Sri Bernard Dompok says.
The tariff reduction from five per cent presently was part of the Malaysia-India Comprehensive Economic Cooperation Agreement (MICECA) signed in October 2010 and came into effect in July last year, he said during a dialogue with importers and distributors of rubber-based medical products here.
Present was Datuk Tan Seng Sung, Malaysia’s High Commissioner to India.
In 2011, Malaysia’s rubber products exports to India increased 28 per cent to RM122 million from RM94.7 million in 2010.
Dompok said the increase in rubber product exports to India was the result of promotional efforts by the Malaysian Rubber Export Promotion Council (MREPC).
“Malaysia’s export of rubber gloves to India increased by 398 per cent over four years, to RM67 million in 2011 from RM13.4 million in 2007,” he said.
India imports 40 per cent of its rubber gloves from Malaysia.
Last year, gloves made up 55 per cent of Malaysia’s rubber product exports to India.
Others included latex thread (RM15 million); tubes, pipes and hoses (RM13 million); and new pneumatic tyres (RM6 million).
Meanwhile, Dompok said he believed that the successful conclusion of the Asean-India Trade in Service and Investment Agreement, currently under negotiations, would further enhance collaboration between Malaysian and Indian companies.
“The collaboration can be in terms of facilitating investments and transfer of technology and meeting needs for skilled workers in expanding industries.
“I’m sure the increase in flow of goods and services would benefit both countries,” he said.
Taken from New Sabah Times Online
congratulation to both Malaysia and India for the establishment of economic cooperation agreement.. even the import tariff only effective by Sept 2013, but there are already some improvement in term of economic relationship shown by both of this country..
ReplyDeletePasti akan memberi kerjasama yang membina dan positif
DeleteAfter the import tariff have been reduce, it will make the rubber glove sales much better since no additional cost will be included.
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The increase in flow of goods between India and Malaysia will definitely benefit both countries. Hope to cooperate more with India in the future.
ReplyDeleteSuatu usaha kerajaan dalam membangunkan ekonomi M'sia
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