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Car price confusion due to lack of understanding: PM, BUSINESS TIMES

Business Times (Malaysia), January, 2003

Business Times (Malaysia) 01-31-2003 THE confusion that car prices will decline this year is caused by lack of understanding about market opening under Asean Free Trade Area (Afta), says Prime Minister Datuk Seri Dr Mahathir Mohamad. "The confusion that car prices will go down starting from this year is because people don't understand the meaning of Afta.

"Afta means that we apply equal taxes on imported as well as local vehicles so that there is no advantage in buying a local car," Dr Mahathir said at a press conference after opening Honda Malaysia Sdn Bhd's manufacturing and assembling facility in Malacca yesterday. Under the Common Effective Preferential Tariff scheme, the mechanism to roll out Afta, member countries have agreed to slash import...

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