Malaysia boosts cooperation with China in emerging growth areas

Roundtable meeting with major stakeholders of palm oil (Photo: globaltimes.cn)

Kuala Lumpur (VNA) - Malaysia plans to further solidify its involvement in China’s Belt and Road Initiative (BRI) and explore a wider economic partnership with the country in emerging growth areas such as sustainable development and green trade, Deputy Prime Minister Fadillah Yusof said on November 14.

Speaking at a roundtable with Chinese partners in the palm oil sector, Fadillah, who is also the Plantation and Commodities Minister, said Malaysia has been proactive in taking pivotal measures towards the administration and production of sustainable palm oil.

Approximately 90% of oil palm planted areas amounting to 5.26 million hectares have been recognised under the Malaysian Sustainable Palm Oil (MSPO) certification, he stated, adding that the certified regions boast an impressive potential annual production capacity of up to 18 million tonnes.

Fadillah called on palm oil stakeholders to embrace the expansive opportunities served by the thriving trade and economic connections between Malaysia and China.

The Deputy PM is on his maiden official visit to China from November 12-19 to strengthen cooperation in research and development as well as capacity building in the field of commodities, especially in promoting the MSPO certification scheme at the global level.

In 2022, the exports of palm oil and related products from Malaysia to China reached 3.72 billion USD, accounting for 11.4% of the country’s total worldwide exports of these products./.

VNA