Malaysia seeks more measures to encourage intra-trade in ASEAN
Malaysia is identifying appropriate mechanism to address the non-tariff measures or barriers in the Association of Southeast Asian Nations (ASEAN) to reduce and eventually eliminate barriers to trade, said a Malaysian senior official.
Malaysian International Trade and Industry's Minister Mustapa Mohamed made the remarks at a seminar on ASEAN Economic Community (AEC) on Friday.
He said despite the promising growth and liberalization of tariffs among the ASEAN member states, intra-trade in the bloc remains stagnant at around 20 percent to 25 percent, as the major impediment in achieving higher intra-trade lies in border measures or non-tariff barriers.
ASEAN is currently working towards implementing various trade facilitating measures, such as a national single-window system that is seamlessly linked to the ASEAN Single Window as well as harmonization of standards and customs procedures, he said.
(ASIA PACIFIC DAILY)
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