Malaysia's Ministry of International Trade and Industry (MITI) has announced that, effective from April 15 this year, the current duty exemption procedures in Malaysia will be improved through the implementation of the duty drawback facility for importation of steel raw materials to produce finished goods for export purposes only.
Meanwhile, the existing duty exemption policy is for the grades and specifications not produced locally, for raw materials to produce finished products which have nil duty, for raw materials to produce finished products in the Local Manufacturing Warehouse (LMW) and Free Industrial Zone (FIZ) in Malaysia and for raw materials not produced locally in Malaysian states Sabah and Sarawak to directly produce finished products.