News Room - Business/Economics

Malaysian companies exporting to the Philippines can soon enjoy a swifter export transaction, following the introduction of the "single reference list of all regulated imported products" by the Bureau of Customs (BOC) Philippines on April 20.

In a statement Thursday, the Malaysia External Trade Development Corporation (MATRADE) said the list was introduced to ease any import/export transactions and at the same time protects both importers and exporters.

"All products must have the required permits from all regulating agencies in the Philippines before entering the market.

"To avoid delay in customs clearance, it is vital for Malaysian companies to refer to the list. Currently, there are more than 1,600 Malaysian companies exporting to the Philippines," the agency's Trade Commissioner in Manila, Nyaee Anak Ayup said.

She said the list contains information of over 7,400 regulated products, ranging from basic commodities such as rice and sugar to vehicles, iron and steel products, as well as oil and electronic goods.

In relation to this, Nyaee advised Malaysian food and dietary supplements' manufacturers exporting to the Philippines to avoid using the phrase, "No Approved Therapeutic Claim" in all of its advertisements, promotional or sponsorship activities or materials.

The directive is in line with a move by the Food and Drug Administration (FDA) Philippines to ensure the safety, efficacy or quality of health products as defined by Republic Act No. 97111.

It includes among others, food, drugs, cosmetics, devices, biological and vaccines that may have an effect on health and require regulations as determined by the FDA.

More details on the export-related regulations imposed by Malaysia's trading partners can be obtained at www.matrade.gov.my or by registering as a MATRADE member to receive the latest export markets' alerts.