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Malaysian furniture industry calls for removal of import duties on components
|News reports say the Malaysian Furniture Industry Council (MFIC) has urged
the government to remove import duties for components necessary for furniture production
to make the sector more attractive to investors. The MFIC proposes removal of import
duties on raw and composite material and parts, hardware and fittings for furniture
The council said that neither local nor foreign companies were keen in making new investments because the necessary components for their production in Malaysia were subjected to high tariffs.
Because most manufacturers are small and cannot purchas large quantities they had to buy through trading agents. Because these trading agents were not manufacturers, they were subject to import tariffs and they, in turn, had to pass on this cost to the manufacturers.
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