CAIRO: The second Malaysia-Egypt Palm Oil Trade Fair and Seminar (POTS Egypt 2010) will serve as a platform to empower Malaysia-Egypt partnership and capitalise on the opportunities in palm oil trade in the Middle East.
TRADE BOOST: Some of the palm products exported to Egypt include palm kernel oil. — Photo by oilnfat.com
Malaysian Palm Oil Council (MPOC) chairman, Datuk Lee Yeow Chor, said the event aimed to develop and optimise business opportunities for Malaysian palm oil in western Asia, Middle East and south Eastern Europe.
“Egypt is also an ideal gateway for Malaysian palm oil to penetrate the other North African countries, such as Algeria, Ethiopia, Morocco and Sudan.
“This year’s theme, ‘Empowering Partnership, Gaining Opportunities in Current Growing Market Place’, is a reflection of the main purpose for which we are gathered here,” he said in his welcoming speech here yesterday.
The event is jointly organised by MPOC and the Malaysian Palm Oil Board (MPOB), in collaboration with Egypt’s General Authority For Investment and Chamber of Food Industries Egypt.
Also present were Malaysian Ambassador to Egypt, Dr Mohd Fakhrudin Abdul Mukti; deputy chairman of Egypt Food Industries, Mohamed Ayman Korra; deputy chief executive officer of MPOC, Dr Kalyana Sundram; and, MPOB director of product development, Dr Kalanithi Nesaretnam.
Lee said Malaysian palm oil exports to Egypt recorded an encouraging increase so far this year.
“Up to September 2010, Malaysia exported 703,371 tonnes of palm oil, an increase of 55.2 per cent from 453,183 tonnes on a year-to-year basis.
“Fully-refined (RBD) palm olein, RBD palm oil and RBD palm stearin are the major palm oil products exported to Egypt, accounting
for more than 80 per cent of the total palm oil products imported.
“The other palm products are palm kernel oil, oleochemicals and specialty fats,” he said.
Lee said the increase in exports was due to the positive growth in the population and improvement in economic situation in the neighbouring countries, which were major re-export markets for Egypt.
“In 2009, it imported 609,210 metric tonnes, an increase of 75 per cent from the amount of 347,558 tonnes imported in 2008,” he said.
Lee said Malaysian companies not only supplied palm oil and palm oil products but also actively provided solutions to their customers.
“Malaysia is not only a mere supplier of palm oil and palm oil products but also a partner to strengthen market opportunities from buyers in the Middle East, particularly Egypt,” he said.
He said the holding of a trade exhibition was a direct and effective platform for the participants and exhibitors to meet and interact with their counterparts, suppliers, existing buyers and potential customers.
The business communities from both countries needed to foster relationships not only with the oil and fats industry players, but also with the relevant policy and decision-makers in respective areas, he said.
A total of nine papers covering topics on oils and fats ranging from investment opportunities and market situation to nutrition will be presented.
The speakers comprise renowned local industry captains including experts from Malaysia and the UK.
There will also be a trade fair with the participation of 13 exhibitors from Malaysia and Egypt.— Bernama