Malaysia’s palm oil and palm oil-related exports to China are expected to increase this year or remain at last year’s level, said Deputy Prime Minister, Datuk Seri Fadillah Yusof.
Last year, the export of palm oil and palm oil-related products from Malaysia to China reached US$3.72 billion or RM14.86 billion, this huge amount made up 11.4 percent of the total exports worldwide which amounted to RM130.25 billion.
“There are many markets that we have not penetrated in China. Therefore, we need to continue to strengthen trade relations between Malaysia and China,” he said after holding two bilateral meetings with China’s General Administration and Customs Minister Yu Jianhua and Chinese Vice Premier Liu Guozhong here on Thursday.
Fadillah, who is also the 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 the visit, Anwar met with the President of China, Xi Jinping to mark his maiden visit to China since assuming the position of prime minister in November 2022.
Regarding palm oil imports, Fadillah said, China is committed to increasing the amount of palm oil imports and downstream products containing palm oil from Malaysia, which is the second largest producer of vegetable oil in the world.
He said China plans to increase not only palm oil imports but also derivatives including tocotrienol, which is vitamin E based on palm oil.
”China also wants to see how we can increase cooperation in terms of research and development to increase the use of palm oil in this country,” said Fadillah.
He said the meeting also discussed the export of fresh fruit to China, Bernama reported.
“We have exported jackfruit to Nanning this year and they are interested in increasing the delivery of other fruits including durian,” he said.
Fadillah is scheduled to meet the Minister of Agriculture and Rural Affairs, Tang Renjian tomorrow.
He is on his first official visit to China from November 12 to 19.
