Post by account_disabled on Feb 20, 2024 1:10:47 GMT -5
Malaysia has said it will double palm oil exports to China to half a million tonnes annually as the Southeast Asian nation moves against European restrictions on a commodity used in everything from biscuits to cosmetics. The plan was made public on September 17 at the 20th China-Asean Expo in the southern Chinese city of Nanning, where representatives of the countries signed investment agreements worth 19.8 billion ringgits ($4.2 billion). to develop storage, logistics and waste-to-energy conversion. Power plants in Malaysia. Among the deals is a RM2.5 billion memorandum of understanding between Malaysia's state-owned Sime Darby Oils International and Guangxi Beibu Gulf International Port Group, which will build a refined palm oil marketing and distribution center in the city. Qinzhou China. The facility will have an annual transaction volume of 500,000 tonnes to meet growing demand across the country.
China is among the top importers of palm oil from Malaysia (the world's second largest producer) along with India, Turkey, Kenya and Japan. Since, China has been Malaysia's Job Function Email Database largest trading partner. Last year, the Southeast Asian nation's exports to China grew 9.4 percent to 210.6 billion ringgit. This article is from Nikkei Asia, a global publication with a uniquely Asian perspective on politics, economics, business and international affairs. Our own correspondents and external commentators from around the world share their views on Asia, while our Asia300 section provides in-depth coverage of 300 of the largest and fastest-growing listed companies from 11 economies outside Japan. Subscribe | Group subscriptions The two have built joint industrial parks in both countries to boost ties.
China has taken steps to increase trade with Southeast Asia amid rising tensions with the United States and other developed economies. "Malaysia is confident that our trade and economic relations with China will only be strengthened through various strategic initiatives," Malaysian Prime Minister Anwar Ibrahim said at the exhibition. Anwar was quoted by Malaysia's state news agency Bernama as saying his country would double palm oil exports to China from the current 250,000 tonnes annually. The palm oil deal will help protect the sector, including smallholder farmers, Anwar added, as Malaysia and top producer Indonesia fight tighter regulations from the European Union. In May, residents sent a joint mission to Brussels to express their opposition to deforestation regulations adopted last year.
China is among the top importers of palm oil from Malaysia (the world's second largest producer) along with India, Turkey, Kenya and Japan. Since, China has been Malaysia's Job Function Email Database largest trading partner. Last year, the Southeast Asian nation's exports to China grew 9.4 percent to 210.6 billion ringgit. This article is from Nikkei Asia, a global publication with a uniquely Asian perspective on politics, economics, business and international affairs. Our own correspondents and external commentators from around the world share their views on Asia, while our Asia300 section provides in-depth coverage of 300 of the largest and fastest-growing listed companies from 11 economies outside Japan. Subscribe | Group subscriptions The two have built joint industrial parks in both countries to boost ties.
China has taken steps to increase trade with Southeast Asia amid rising tensions with the United States and other developed economies. "Malaysia is confident that our trade and economic relations with China will only be strengthened through various strategic initiatives," Malaysian Prime Minister Anwar Ibrahim said at the exhibition. Anwar was quoted by Malaysia's state news agency Bernama as saying his country would double palm oil exports to China from the current 250,000 tonnes annually. The palm oil deal will help protect the sector, including smallholder farmers, Anwar added, as Malaysia and top producer Indonesia fight tighter regulations from the European Union. In May, residents sent a joint mission to Brussels to express their opposition to deforestation regulations adopted last year.