KUCHING (Nov 8): Deputy Prime Minister Dato Sri Fadillah Yusof is looking to strengthen trade in commodities, particularly palm oil, between Malaysia and China during his official visit to the republic starting this Sunday.
The Plantation and Commodities Minister said China is one of Malaysia’s largest importers of palm oil and as such, the visit is expected to further increase palm oil export to the country.
“This trip is a follow-up to our Prime Minister Datuk Seri Anwar Ibrahim’s previous visit to China last September.
“The main mission of the visit is related to our commodity which is the trade between China and Malaysia, specifically to further increase the value of palm oil exports to the country,” he told reporters when met after officiating the opening ceremony of the 51st Annual Session and Meetings (ASM) of the International Pepper Community (IPC) and International Spice Exhibition here yesterday.
China was Malaysia’s second-largest palm oil export market in 2022, accounting for 11.2 per cent of total Malaysian palm oil exports, according to the Malaysian Palm Oil Board (MPOB).
In 2022, Malaysia’s total export value of palm oil and other palm-based products to China rose 12.9 per cent to RM14.86 billion from RM13.16 billion in 2021.
Meanwhile, Fadillah said that in addition to the trade mission, his visit will also be aimed at strengthening bilateral ties between Malaysia and China.
“Furthermore, next year marks the 50th anniversary of Malaysia-China diplomatic relations,” he added.