KUALA LUMPUR (Sept 15): Malaysia has gone beyond exporting palm oil to global buyers to include development of oil palm downstream industries in importing nations, according to Plantation Industries & Commodities Minister Datuk Amar Douglas Uggah Embas.
Uggah said such collobarations between Malaysian oil palm plantation firms and business partners in palm oil importing countries, had been a success.
"We have previously demonstrated the viability and success of such strategic partnerships, through ventures between Malaysian companies and their counterparts in Netherlands, China, Japan, Pakistan, Bangladesh, Vietnam and Liberia.
"These are only a few of the many examples on how Malaysia has built strategic alliances with key partners to gain access into the market, and at the same time commit itself not only in selling or exporting palm oil, but to play a major role in developing the downstream activities in the importing countries," Uggah said at the launch ceremony today.
Uggah said this in his speech, when he officiated at the the the 5th Malaysia-China Palm Oil Trade Fair and Seminar (POTS) in Shanghai today, according to a statement by the Malaysian Palm Oil Council (MPOC).
The POTS is jointly organised by the MPOC and Malaysian Palm Oil Board (MPOB), in partnership with Shanghai Pansun Information & Technology Co Ltd.
The event aims to enhance the understanding of the Chinese oils and fats players' understanding on the functional and nutritional attributes of palm oil, to expand usage of the commodity in China.
This is because China is Malaysia's largest palm oil trading partner.
Uggah said Malaysian palm oil accounted for 3.7 million tonnes or 58.8% of China’s palm oil imports in 2013. During the year, China had imported 6.3 million tonnes of palm oil.
In 2000, Malaysian palm oil exports to China stood at 1.02 milion tonnes.