PM Anwar's leadership amid US tariff isssue praised
KUALA LUMPUR: The Malaysian chapter of the ASEAN-Business Advisory Council (ASEAN-BAC) has complimented Prime Minister Datuk Seri Anwar Ibrahim's leadership and the MADANI government in handling the United States (US) tariff issue in a calm and balanced manner and protecting national interests.
Besides being very astute in handling the thorny issue, the government has engaged Washington to figure out what is rhetoric and what is reality on the US side, its chairman Tan Sri Nazir Razak said today.
More than that, he said 'Malaysia has then gone back to strategise, which we are doing now, and maybe going back and negotiate.'
'That's absolutely the right way to handle the situation, which is in contrast with the (confrontational) handling of the situation by many other countries, which reacted too quickly, or were too aggressive,' he said in response to questions on the US asking Malaysia to reduce non-tariff barriers such as in halal certification at a press conference on ASEAN-BAC Malaysia's 2025 initiatives.
On NTBs and whether Malaysia and other Southeast Asian governments had the political will to dismantle them, he said these barriers were an ASEAN-wide problem.
'There is a strong correlation between the reduction in tariffs and the rise of non-tariff barriers, and at last count, there's something like 9,642 non-tariff barriers across ASEAN,' said Nazir.
'One of the difficulties facing ASEAN is that there's no clear enforcement mechanism to bring this down.
'There's a lot of frustration from the private sector with non-tariff barriers.
'As we negotiate with the US, perhaps it's an opportunity for us to review those highlighted by businesses,' he said.
Nazir revealed that there is a mechanism called ASEAN Assist, whereby a company can go online and list down a non-tariff barrier employed by a country which should not be there.
Unfortunately, the take-up rate is very low because of the (perception) that nothing can be done about it. Which is why (the issue of) non-tariff barriers is an area that ASEAN has to focus on, said Nazir.
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