PLS Plantations Bhd (PLS), a leading player in the Malaysia agro-food industry, has entered into a Strategic Partnership Agreement with COFCO Food Import Co Ltd (COFCO), China’s largest food processor, manufacturer, and trader.
The collaboration aims to develop and implement food security initiatives under the One Belt, One Road Initiative. This partnership signifies a substantial milestone for PLS Plantations, as it aligns with the group’s ambition to become a global leader in food production.
Through this agreement, PLS Plantations and COFCO will exchange information and knowledge on food security initiatives; collaborate on food security research and development; jointly invest and implement food security projects; resources, technologies and expertise sharing; and conduct joint training and capacity-building activities related to food security initiatives.
The scope of this agreement includes but is not limited to agriculture development, food reserves, food safety, poverty alleviation, food production, food imports and food pricing.
During the Malaysia China Business Forum held over the weekend, Prime Minister Dato’ Seri Anwar Ibrahim also emphasised the critical role of food security in fostering sustainable economic growth, urging businesses to collaborate in developing innovative solutions to combat hunger and promote food security and stability, while also highlighting that food security is one of the government’s top three priorities alongside environmental sustainability and digital advancement.
PLS Plantations Chairman Tan Sri Nazir Razak said, “As we recognise the importance of food security, we believe that it is vital for us to collaborate with some of the leading players in the industry to push forward innovation and scale economies that will strengthen our nation’s food security.”
“By combining our expertise in food production with COFCO’s extensive resources and experience in the downstream segment, we aim to create a sustainable, efficient and environmentally responsible food ecosystem for the future. We will look for innovative solutions and technologies to address critical challenges such as climate change, soaring fertiliser costs, and the ever increasing demand for food,” he said.
COFCO Food Import General Manager Wu Yiran said, “The top priority of COFCO is addressing China’s food security, and this collaboration with PLS Plantations offers an invaluable opportunity to tackle these challenges together.”
“This partnership addresses domestic food security concerns and fosters mutual growth and development for China and Malaysia as we work collectively towards achieving self-sufficiency in food production. In doing so, we aspire to create a model of international cooperation demonstrating how shared goals and collaborative efforts can effectively alleviate global food security concerns and benefit all parties involved.”
Founded in 1949, COFCO is China’s largest food processor, manufacturer and trader. It is also one of Asia’s leading agribusiness group with global footprints and a fully-integrated value chain.
On August 24, 2022, PLS Plantations and COFCO established their strategic partnership through the Malaysia Durian and Durian Products Distribution Agreement. The partnership grants COFCO the exclusive rights to promote, off-take and distribute PLS’s Malaysian durian and durian products in China.
Tan Sri Nazir Razak is confident that this partnership will lead to further collaboration and expansion into other plantation activities such as forest plantation, cash crops, and other agricultural and aquacultural activities to be identified as part and parcel of the National Food Security Enhancement.
