Malaysian International Trade and Industry Ministry announced the executive of import duty charged of 18 grades of steel imports.

The government will stop issuing the Temporary Certificate of Approval.

It’s said that company currently with TCOA may be considered for fast-track clearance for six months. However for companies without TCOA facility, the present process of applying for the Certificate of Approval remains in place.

The International Trade and Industry Minister Datuk Seri Mustapa Mohamed said all these measures were formulated after all the stakeholders were consulted and agreed upon by them.

He looked forward to the establishment of the Malaysia Steel Institute an independent entity, in the first quarter of this year. Government's role will be to secure better market access for Malaysia's steel products through free trade agreements.