Malaysia Designates Terminal a FTZ to Exempt Some Goods From Duties

Malaysia recently designated its North Butterworth Container Terminal a free trade zone, exempting certain goods from customs duties, according to a Feb. 8 report from the Hong Kong Trade Development Council. The terminal will allow foreign investors to process imported raw materials without any customs and excise duties or sales and services taxes “prior to exporting their finished products to other countries,” the HKTDC said. Some goods still will be subject to “statutory surcharges,” the report said, including perfumes, alcohol and tobacco.