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Palm products to boost Malaysia-RoK trade

Malaysia’s palm oil and other related products are the main pillars of boosting trade with the Republic of Korea (RoK), said Malaysian Ambassador to the RoK Rohana Ramli.
Malaysia’s palm oil and other related products are the main pillars ofboosting trade with the Republic of Korea (RoK), said MalaysianAmbassador to the RoK Rohana Ramli.

Total RoK imports of palm oil from Malaysia grew by 53.62 percent from 236.5 million USD in 2010 to 363.3 million USD in 2014.

Meanwhile, exports of palm-based products in 2014 amounted to 491.2million USD, up 13 percent from the previous year, according to theMalaysian Palm Oil Board (MPOB).

The ambassador said the scopeand volume of trade between Malaysia and the RoK, particularly in palmoil and related products, could be expanded through trade fairs andworkshops as well as through economic cooperation under the ASEAN-KoreaFree Trade Agreement and the second wave of Malaysia's Look East Policy.

Malaysia's exports to the RoK include non-metallicmineral products, processed food and commodities, and palm oil, and theyimport mainly electronics, electrical products and iron and steelproducts.-VNA
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