China's accession to the World Trade Organization (WTO) will benefit Malaysian industries, a senior official of the Federation of Malaysian Manufacturers (FMM) said Friday in Kuala Lumpur.
The agreement signed between Malaysia and China on April 12 to conclude a bilateral market access negotiation in the context of China's accession to the WTO will greatly benefit both economies as China's entry into the WTO will not only serve to solidify and further its recent economic reforms, but will also increase the openness and transparency of the Chinese commercial environment," said FMM vice-president Mustafa Mansur here at FMM's one-day seminar on "Updates on WTO and Implications of China's Accession to the WTO on Malaysian Businesses".
China's decision to lift the tariff on 760 products of export interest to Malaysia as announced following the signing of the agreement will benefit major Malaysian industries and provide stability and predictability for the local business community, he said.
Mustafa believed that China's WTO membership would strengthen reform tendencies and as a result there would be an increase in economic liberalization in China.
China's accession to the World Trade Organization (WTO) will benefit Malaysian industries, a senior official of the Federation of Malaysian Manufacturers (FMM) said Friday in Kuala Lumpur.
