Malaysia should utilise free trade agreements to promote palm oil globally – MPOB

Malaysia should utilise the free trade agreements (FTAs) that it has among the ASEAN countries, including the Regional Comprehensive Economic Partnership (RCEP) to promote palm oil at the global level, said the Malaysian Palm Oil Board (MPOB).

Its director general Datuk Dr Ahmad Parveez Ghulam Kadir said the expansion of the ASEAN trade relationship with other countries such as China, India, South Korea and Japan would further strengthen and help to export and push the commodity to those countries.

“With this partnership, we have the advantage to tell them about the goodness and benefits of palm oil, which we hope can strengthen our palm oil exports to those countries and also strengthen the relationship.

“Of course, we may also buy some products from them as well,” he said as a guest during Bernama TV’s The Nation programme on “Malaysia’s ASEAN Chairmanship in Palm Oil Diplomacy” here today.

Ahmad Parveez said it is also important, with ASEAN as the largest palm oil producer, to work together and meet all the global needs, as well as the demand created by the global palm oil market.

While both Malaysia and Indonesia are focusing on an almost similar market, he said it is crucial for Malaysia as the ASEAN chair this year to push for the sustainability agenda through the Malaysian Sustainable Palm Oil Standard MS2530:2022 (MSPO 2.0).

“Starting from Jan 1, 2025, we have the MSPO 2.0, which is more stringent and fulfils all the international requirements.

“So this is where we as a country can portray ourselves and show that we are better than just producing commodities,” he said.

Tags: АСЕАН, free trade agreements, Regional Comprehensive Economic Partnership, export, Malaysia, palm oil, Market, Malaysian Palm Oil Board