Ong Kian Ming explains why ratifying the CPTPP will not open the floodgates to Japanese cars. FMTNews Proton Perodua
PETALING JAYA: Deputy International Trade and Industry Minister Ong Kian Ming has disputed a claim that the ratification of a trans-pacific trade pact will spell the end of national car makers Proton and Perodua.
Ratifying the CPTPP or even the Regional Comprehensive Economic Partnership , he added, would have little to no effect on existing incentives for local components and assembly. The ILP, he added, still allowed room for Malaysia to continue on the path to greater localisation of components and assembly by foreign auto makers.
He said excise duties and import duties did provide Malaysian-made cars some level of protection and added that they might still be able to compete even if the playing field was level.
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