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.