Malaysia to release 'watch-list'

Malaysia to release 'watch-list'

KUALA LUMPUR (AFP): Malaysia said yesterday it had compiled for release its own "watch-list" on countries it perceived imposed unfair trade practices, in attempts to get them to dismantle barriers to freer trade-flows.

International Trade and Industry Minister Rafidah Aziz said Malaysia would monitor these practices and act to address the problem either bilaterally or with the World Trade Organization (WTO).

Rafidah said action could also be taken at the level of the Association of Southeast Asian Nations (ASEAN), which groups Malaysia with Brunei, Indonesia, Singapore, the Philippines and Thailand.

"As Malaysian industries become efficient and cost competitive, they will become targets of creative trade barriers," Rafidah said in releasing her ministry's 1995 trade report.

They might also come under undue pressures from lobby groups that would hinder market access for their products in overseas markets, she said.

Rafidah said annual reports published by such countries as the United States and Japan highlighting what they perceived as barriers had given the impression that Malaysia practiced numerous unfair trade practices.

Despite all these allegations, Malaysia's imports grew by 32.8 percent in 1994 over the previous year to 155.9 billion ringgit (US$62.4 billion) placing it as the world's 18th largest importer.

"On a per capita basis, Malaysia's imports at 7,921 ringgit ($3,100) for 1994 is higher than that of the United States and Japan," Rafidah said.

She also said Malaysia is not disputing the Washington's withdrawal of privileges under the generalized system of preferences (GSP) as in time these would be phased out.

"We, however, feel that the withdrawal of the privileges should not be done on a broad basis and abruptly," she said, adding that this is a matter that both Malaysia and ASEAN hope to address with the United States.