Barter Trade No Longer Relevant, Says BIMB-EAGA Chairman

By ROHANA NASRAH KOTA KINABALU (Sabah, Malaysia), May 20 (Bernama) -- The barter trade is no longer relevant now, says the Brunei, Indonesia, Malaysia, Philippines - East ASEAN Growth Area (BIMP-EAGA) chairman Roselan Johar Mohamed. Describing barter trade as a thing of the past, Roselan said Malaysia must stop such practice as well as erase any indication of using the word so that the public be forewarned to avoid its usage. Roselan added that the exchange of material always caused friction due to the competition among traders and buyers unless there was underlying reasons. "The situation nowadays has completely changed. Nobody can take security for granted or just give lip service. When lives and property are at stake, only than can we realise the importance of security," he told Bernama here, Wednesday. On Monday, Inspector-General of Police Khalid Abu Bakar said police will propose to the state government to ban barter trade practiced by the state's east coast communities and residents from southern Philippines, to curb criminal activities, especially kidnapping which is becoming rampant. Police are proposing that both legal and illegal barter trade be stopped as many were capitalising on the situation while exchanging goods. Roselan expounded that trading has always been legitimate unless the traders dealt with illegitimate trade, and it would be up to the police to recognise such illegitimate trade. "We can forget about being sentimental and ban barter trade, but how easy is it to find the loopholes. Traders may claim they are dealing in cash," he said. To avoid such practice, Roselan said the government should impose documentary customs declaration to all traders, both ways, and expressed optimism that such an approach would be the best and only solution to overcome the situation. "Even the boats that come in should be regulated. No more free passage and they must be made to pay for the services rendered by the Malaysian government. "Whether big or small, as long as (traders) from foreign countries come in, they have to be boarded by Customs, Immigration, Quarantine and Security (CIQS) officers before they can berth," he added. In a related development, Roselan said in BIMB-EAGA itself, everybody and every point within the business council's region was connected, therefore, the distribution and circulation of money was widespread. "The preference has always been cash and traders are not obligated to go for cargo or material exchange," he said. -- BERNAMA