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, exports of palm oil and palm oil-related products from Malaysia to China reached US$3.72 billion or RM14.86 billion and this substantial number constituted 11.4 per cent of Malaysia’s total worldwide exports of palm derivatives, which equated to 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 after holding two bilateral meetings with China’s Minister of the General Administration of Customs Yu Jianhua and Chinese Vice Premier Liu Guozhong here today.
Fadillah, who is also Minister of Plantation and Commodities, said his visit to China was a follow-up to Prime Minister Datuk Seri Anwar Ibrahim’s visit to the country in March this year.
During that visit, Anwar met with President Xi Jinping to mark his maiden trip to China since coming into power in November 2022.
Malaysia also secured a record RM170 billion (US$38.6 billion) in investment commitments during that trip.
Regarding palm oil imports, Fadillah said China is committed to further increasing the amount of palm oil imports and downstream products containing palm oil from Malaysia, which is the world’s second-largest producer of vegetable oil.
He said China plans to increase not only the import of palm oil but also derivatives including tocotrienol, which is 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,” Fadillah said.
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,” he said.
Fadillah is scheduled to meet with Minister of Agriculture and Rural Affairs Tang Renjian tomorrow.
The deputy minister is on his maiden official visit to China from Nov 12-19. – Bernama