In a statement today by the Malaysia Trade Development Corporation (Matrade), the tariff rates for 11 of Malaysia’s top exports to Canada will increase, starting 1 Jan 2015.
Norzihan Mohd Zain, Malaysian Trade Commissioner in Toronto, said that there is currently no tariff for edible mixtures or preparations of animals and vegetables as well as vegetable fats, oils and their fractions, but the new tariff will be 11 per cent.
She added that the tariff for reception apparatus for radio-broadcasting and video recording or reproducing apparatus will increase from zero to six per cent, while the tariff for another 19 products will remain at zero per cent.
Starting from January 2015, importers will have to pay higher tariffs for some Malaysian products that are affected under this General Preferential Tariff (GPT) policy. Norzihan said the changes to the GPT by amendments to the Customs Tariff and related regulations in respect of goods imported to Canada will be effective on or after 1 Jan 2015 and will be effective for 10 years, until 31 Dec 2024.
However, she added that imports from countries which are entitled to other preferential tariff treatments, including free trade agreements, will continue to be eligible for tariff preferences.
Earlier in March this year, Canada’s Minister of Finance James M. Flaherty had in his 2013-2014 budget presentation announced that Malaysia together with Indonesia, Singapore, Thailand, Brunei, China, India and Brazil are among the 72 countries that will be withdrawn from its GPT starting 1 Jan 2015.