Malaysia exempts RI?s steel products from safeguard duty
Wednesday, July 19 2017 - 11:59 AM WIB
Director General of International Trade at the Ministry of Trade, Oke Nurwan said that following investigation since last year, Malaysia has decided to exempt the Indonesian Rebar product from 13.43 percent safeguard duty, which is gradually being applied for three years starting April 14, 2017 until April 13, 2020.
Oke said that Malaysia?s import of Rebar production from Indonesia only accounted for less than 3 percent of the country?s total import of the steel product.
According to the Central Statistics Agency, Indonesia?s export of Rebar product to Malaysia jumped to 38 tons worth US$14,000 from 370 kg in the previous year.
Oke said that Indonesia?s steel wire rods and deformed bar in coils have also been exempted from the 13.90 percent safeguard duty, being applied by Malaysia gradually through 2020, as import from Indonesia only accounted for less than 3 percent of the total import of the product by Malaysia.
Editing by Reiner Simanjuntak