KL seeks exemption from AFTA

KL seeks exemption from AFTA

KUALA LUMPUR (AFP): Malaysia is still seeking a minimum two-
year exemption from the ASEAN Free Trade Area (AFTA) for its car
industry and selected agricultural products, a report said
Monday.

"We must ensure that our industries have really recovered from
the effects of the economic downturn before we open up our
market," International Trade and Industry Minister Rafidah Aziz
was quoted as saying Sunday.

"We will be irresponsible if we do not help local industries
to consolidate their positions since big investments have been
made," the Sun and the official Bernama news agency quoted
Rafidah as saying.

The Association of Southeast Asian Nations (ASEAN) is due
fully to implement the free trade area in 2003.

National carmaker Proton, founded in 1983 as part of
Malaysia's push into heavy industry, is protected by high tariffs
on imported cars. More than 65 percent of cars sold in Malaysia
are Protons.