BEIJING, Nov 16 — Malaysia’s palm oil and palm oil-related exports to China are expected to increase this year, if not maintained at last year’s level, said Deputy Prime Minister Datuk Seri Fadillah Yusof.
Last year’s exports of palm oil and palm oil-related products from Malaysia to China reached US$3.72 billion (RM14.86 billion), and this substantial number constituted 11.4 per cent of Malaysia’s total worldwide exports of palm derivatives of RM130.25 billion.
“There are many markets that we have not penetrated in China. Hence, we need to continue to strengthen the trade relationship between Malaysia and China,” he said.
Fadillah was speaking after holding two bilateral meetings with China’s Minister of the General Administration of Customs, Yu Jianhua and Chinese Vice Premier, Liu Guozhong, today.
In his capacity as Plantation and Commodities Minister, he said the visit to China is a follow-up to Prime Minister Datuk Seri Anwar Ibrahim’s visit to the country earlier in March.
At the time, Anwar met with President Xi Jinping to mark his maiden trip to China since assuming office in November last year.
Malaysia also secured a record RM170 billion (US$38.6 billion) in investment commitments during his trip.
Regarding palm oil imports, Fadillah said China committed to further increasing the amount of palm oil imports and downstream products containing palm oil from Malaysia, the world’s second-largest vegetable oil producer.
China plans to increase not only the import of palm oil but also derivatives, including tocotrienol, a palm oil-based vitamin E.
”China also wants to see how we could increase cooperation in terms of research and development to boost the use of palm oil in the country,” he said.
The meetings also discussed fresh fruit exports to China.
“We have exported jackfruit to Nanning this year, and they are keen to increase the delivery of other fruits, including durian,” Fadillah said.
The Deputy Prime Minister is scheduled to meet with China’s Agriculture and Rural Affairs Minister, Tang Renjian, tomorrow.
Fadillah is on his maiden official visit to China from November 12 to November 19.
— Bernama
