By The Ministry of Investment, Trade, and Industry (MITI) is currently undergoing a review of the Countervailing and Anti-Dumping Duties Act 1993 (Act 504), Deputy Minister Liew Chin Tong said.
Expected to be presented to Parliament in January next year, the amendment aims to bolster measures protecting small and medium enterprises (SMEs) from the repercussions of unfair trade practices, particularly amidst a surge of cheap imported goods, notably from China.
Liew added the government’s stance on safeguarding local industries stands through trade remedies such as anti-dumping duties, countervailing duties, and protective measures. These actions, executed under Act 504 and the Countervailing and Anti-Dumping Duties Regulations 1994, target foreign manufacturers and exporters causing detriment to Malaysian industries, including SMEs.
Responding to queries in the Dewan Negara, Liew addressed concerns raised by Senator Tan Sri Low Kian Chuan regarding the ministry’s strategies to support SMEs amid increasing competition from Chinese businesses today.
Highlighting past initiatives, Liew noted that from 2015 to 2023, MITI had implemented nine anti-dumping measures specifically targeting Chinese exporters, aiming to uphold fair trade practices and shield local industries from undue harm.
