Chongqing - During its participation in the 5th Western China International Fair for Investment and Trade (WCIFIT) being held in Chongqing from May 18-21, the Malaysian Palm Oil Board (MPOB) emphasized the potential for increased trade collaboration between Malaysia and China in the palm oil industry.
As 2023 marks the 49th anniversary of establishing diplomatic relations between China and Malaysia, the MPOB aims to strengthen business exchanges, explore new areas of cooperation, and achieve mutual economic benefits.
In iChongqing's exclusive interview with Dr. Ahmad Parveez Ghulam Kadir, the Director-General of MPOB, on May 18th at the 5th WCIFIT, he highlighted the importance of the palm oil industry to Malaysia's economy and its ongoing collaboration with China and Chongqing.
"MPOB is the government agency entrusted by the Ministry of Plantation and Commodities, Malaysia, to serve and oversee the country's palm oil industry. Its main role is to promote and develop national objectives, policies, and priorities for the well-being of the Malaysian palm oil industry," Dr. Ahmad explained.
Malaysia and China have maintained an excellent economic and trade relationship for the past 49 years, with China being one of Malaysia's leading importers of palm oil. Last year, Malaysia exported 3.141 million tonnes of palm oil and related products to China, worth approximately RMB 2.31 billion (USD 329.3 million).
"Palm oil has great commercial potential in Chongqing's industries, as it is not only used as a raw material in food and beverage production but also in cosmetics, daily necessities, perfumes, and a range of other popular products. As an important city for both light and heavy industries in China, Chongqing requires more palm oil to fuel its development," Dr. Ahmad said.
To promote bilateral trade and expand China's imports of Malaysian palm oil, MPOB signed a memorandum of understanding (MoU) on Strategic Cooperation on Malaysian Palm Oil Supply Chain in the Western Region of China with New Land-Sea Corridor Operations Co., Ltd. at the Malaysia-China (Chongqing) Investment Forum held on August 12th, 2022.
"The MoU aims to establish a platform for promoting Malaysian palm oil and related products trade and technology cooperation in western China, promoting bilateral trade, expanding China's imports of Malaysian palm oil, and achieving win-win cooperation," Dr. Ahmad elaborated.
Dr. Ahmad expressed his optimism for the New International Land-Sea Trade Corridor's potential to enhance bilateral trade between Malaysia and China. He also shared how MPOB has actively promoted higher-quality palm oil to the Chinese market through research and development (R&D) collaboration.
"Through R&D collaboration, MPOB has been actively supplying and promoting higher quality palm oil to the Chinese market, particularly in the food sector. As a healthy and high-value-added palm oil product, red palm oil entered the Chinese market last year," he said.
MPOB has partnered with Tsinghua University to successfully show carbon reduction in local heavy transports using palm-based biodiesel in the non-food sector. MPOB has been actively participating in events such as the WCIFIT to engage with new partners, explore new areas of cooperation, and seek new opportunities for collaboration.
The WCIFIT has served as a significant platform for the MPOB to explore new areas of collaboration with the Chinese industry actively. As the guest country of honor at this year's fair, Malaysia's presence is highlighted through the participation of palm oil companies in the Malaysian Pavilion.
"The WCIFIT provides an excellent opportunity for us to strengthen business exchanges, explore new areas of cooperation, and achieve mutual economic benefits," said Dr. Ahmad.
The Malaysian Pavilion aims to actively engage with Chinese industries, such as oleochemicals, pharmaceuticals, processed foods, and specialty products, to forge new partnerships and explore avenues for collaboration.
Furthermore, the MPOB sees WCIFIT as an avenue to disseminate important messages related to palm oil to Chinese consumers, allowing them to understand better Malaysia's high-quality and sustainable palm oil and its products, promoting transparency, and highlighting the positive aspects of Malaysian palm oil.
(Yang Yuanchun and Ren Aijia, as interns, also contributed to the report.)
For any inquiries, please email firstname.lastname@example.org