Malaysia set to import more textiles from India

By Staff
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Google Oneindia News

Mumbai, Aug18 (UNI) To reduce and eliminate tariffs, which will be concluded by the end of the year, Malaysia is all set to buy more textiles from India next year as part of the first leg of the ASEAN --India free trade agreement.

Malaysian Deputy Minister of International Trade and Industry Ng Lip Yong made the announcement recently during the two-day exhibition of Indian man-made fibre textiles organized by the Synthetic and Rayon Textiles Export Promotion Council (SRTEPC) in Kuala Lumpur.

The exhibition was declared open jointly by Mr Yong and High Commissioner of India in Malaysia Ashok K Kantha.

The exposition assumes greater significance as it was the first promotional event organized in the past 15 years by SRTEPC in Malaysia. Malaysia is a traditional market for Indian synthetic textiles and exports are currently over Rs 220 crores per annum.

Mr Yong said, ''Upon the implementation of the free trade agreement between ASEAN and India, it is expected that 90 per cent of the tariff lines will be included for tariff reduction and elimination.'' Eighteen Indian companies took part in the exhibition, displaying their latest range of fabrics and yarns, which included suitings, shirtings, dress materials, embroidered and high fashion fabrics, furnishings, home textiles, scarves, stoles, shawls, odhanies, laces and yarns of man-made fibres and blends.

UNI

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