KUALA LUMPUR (Oct 22): Primary Industries Minister Teresa Kok said she views with “great concern” the “don’t buy Malaysian palm oil” advisory issued by India’s leading vegetable oil trade body, given the significant and long standing relations between India and Malaysia.
Kok said Malaysia also enjoys excellent working relations with the trade body, Solvent Extractor Association (SEA), which is the conduit for various edible oil processors in India.
“For SEA, palm oil, particularly from Malaysia also, is a key raw material that allows profitable operations of their members involved in the local refining industry throughout India,” she said in a statement.
“Indeed, it was just last month that I attended the key event hosted by SEA at GlobOil, Mumbai, as their guest of honour.
“While we try to understand the underlying sentiment associated with the SEA advisory with respect to Malaysian palm oil imports, we feel this is a major setback in our progressing cooperation and working relations. I urge SEA to not take such decisions unilaterally and allow our respective governments to resolve the current situation,” Kok said.
She added that it is important for SEA and the Malaysian palm oil industry to continue to work closely together and act as an effective bridge to promote good relations between the two countries, for the long-term benefit of all stakeholders in the vegetable oil industry.
“Malaysia and India have shared a long-rooted historical and cultural commonality, as well as good diplomatic and trade relationship. Malaysia has always looked upon India as a strategic and important trading partner.
“We have regularly looked towards India to provide technology innovations, particularly in the processing of palm oil and I acknowledge wholeheartedly the pioneering role played by Indian entrepreneurs when the Malaysian refining industry was at its infancy.
“Currently Malaysia is seriously exploring various avenues to further enhance bilateral trade between our two nations,” she said.
In 2018, Malaysia’s total trade with India rose by 2.2% to RM62.76 billion from RM61.38 billion in 2017. Besides palm oil, Malaysia’s trade with India includes oil and gas, automobiles, chemicals, electrical and electronics, food, and other finished goods.