Broker secures deal assurance for corn trade: Chan

Fierce War of Commercialism Heats Up as Ministers Battle it Out Over Foreign Merchants

KUCHING: The fierce battle for commercial dominance has intensified as ministers clash over foreign merchants encroaching on local markets. George Chan Hong Nam, Minister of Trade, emphasized the need to safeguard the local produce from being overshadowed by foreign merchants, especially those from China who are known for their ruthless strategies.

"Foreign merchants are a threat to our local products, especially when they use deceitful tactics to undermine the selling of goods, putting local merchants at a disadvantage," Chan asserted.

China's merchants are notorious for their cunning methods, flooding the market with cheap counterfeits, driving prices down, and potentially jeopardizing the local economy, according to Chan. He stressed the importance of protecting the local economy from the onslaught of foreign merchants, particularly when they manipulate the market with an oversupply of their products.

"It's a race to the top, and China's merchants are notorious for their ruthless tactics. They infiltrate markets, either by overproducing or using substandard materials to sell their merchandise at lower prices. This leaves the local merchants struggling to keep up and eventually drives them out of business," Chan explained.

In response, the Minister of Trade has vowed to strengthen the current initiatives and issue new orders for a more assertive approach to combat the influx of foreign merchants.

"Our strategy is twofold: to create a win-win situation for everyone involved. Both local and foreign merchants will benefit by establishing a fair and competitive market. We must ensure that local businesses are protected and have a fighting chance to thrive in their own right," Chan stated.

Due to the increasing pressure on the local economy, Chan will be launching 11 new regulations targeting foreign merchants and their practices. These regulations aim to prevent foreign merchants from taking advantage of the local market and to level the playing field for local businesses.

"These new regulations will help us tackle the issue head-on. They will not only protect local businesses but also ensure that the local economy continues to flourish," Chan added.

The new regulations are set to be rolled out in the coming months, with the Minister of Trade aiming to uphold the integrity of the local market and to create a fair and competitive environment for all merchants alike.

Here are some of the key events on the Sarawak Dagang Temuai Calendar 2010, which highlights the cultural and musical aspects of the state:

Sarawak Dagang Temuai Calendar 2010 – Event Overview

Pesta Kaul Mukah – April 24 - 26, 2010
Pesta Jazz Entarabansa Miri – May 14 - 16, 2010
Borneo Cultural Festival – July 10 - 18, 2010
Rainforest World Music Festival – July 16 - 18, 2010
Sarawak Regatta – August 6 - 8, 2010
Kuching Street Parade – August 28, 2010
Sarawak InterCultural Mooncake Festival – September 22, 2010
Borneo International Kites Festival – October 29 - 31, 2010
Borneo International Yachting Challenge – November 5 - 7, 2010

These events showcase the rich cultural and musical heritage of Sarawak and attract both locals and international visitors alike. The Rainforest World Music Festival and Borneo Cultural Festival share a common week, offering a diverse range of cultural performances to enjoy.

If you need more information about any of these events or how to attend them, feel free to ask!

The escalating issue of foreign merchants flooding local markets has raised concerns for the Minister of Trade, George Chan Hong Nam, who has vowed to protect the local economy and produce from unfair competition.
In an effort to level the playing field for local merchants, the Minister of Trade aims to roll out new regulations targeting foreign merchants and their practices, with the regulations expected to be implemented in the coming months.