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Newsletter:
September 2005
Malaysia-Pakistan
Malaysia and Pakistan signed the agreement on the Early Harvest Programme (EHP)
on 1 October 2005, ahead of the conclusion of its Free Trade Agreement (FTA)
which is scheduled by mid-2006.
The EHP is based on the 2004 import statistics and the Most Favoured Nation
(MFN) applied tariff rates of Jan 1, 2005 of both countries.
It covers products with MFN tariffs of 10% and below and upon
implementation, products with MFN tariffs of five percent will be eliminated
and 10% will be accorded a margin of preferences of 50%.
The EHP shall expire upon entry into force of the FTA or March 31, 2007,
whichever is earlier.
Pakistan's EHP offer to Malaysia covers 5.49% of import value (RM146.3
million) involving 125 tariff lines. The products include machinery,
mechanical equipment and appliances, plastic products, chemical products,
rubber, rubber products and timber products.
MITI said the Interim Rules of Origin (ROO) would be applied to the products
covered under the EHP. A 40% local content rule will be applied on the EHP
products while product specific rules will be applied to textile,
clothing and jewellery. The EHP ROO will be replaced by a new set of
rules under the FTA.
In 2004, total trade between Malaysia and Pakistan amounted to RM2.871
billion, heavily in favor of Malaysia. Malaysia's export to Pakistan was
valued at RM2.665 billion while imports from Pakistan amounted to RM206
million.
Malaysia's major exports to Pakistan are palm oil, margarine and
telecommunication equipment. Pakistan's main exports to Malaysia are
fresh, chilled and frozen fish, rice, textile yarn, fabrics and woven cotton
fabrics. |