Proton can compete during AFTA

Proton can compete during AFTA

KUALA LUMPUR: Malaysia's first national car manufacturer
Perusahaan Otomobil Nasional Bhd. will be able to compete when
the local car market is opened to competition under the ASEAN
Free Trade Area (AFTA), Bernama reported Tuesday.

The government-owned news agency quoted Malaysia's
International Trade and Industry Minister Rafidah Aziz as saying
the Proton had told her ministry it's ready to compete and that
it has carried out all the necessary internal restructuring,
changes and adjustments required.

Rafidah said Proton's parts suppliers are also well equipped
to compete.

She noted that Proton executives are part of Malaysia's
negotiation team for AFTA and they had given input on how the
local automotive market should be opened up.

Under the AFTA plan, regional tariffs on motor vehicle imports
among member states will fall to between zero and 5 percent this
year. ASEAN members had already agreed that Malaysia doesn't need
to apply the rules to the car market until 2005. -- Dow Jones