InfoSAWIT, PUTRAJAYA - Palm oil and other agricultural commodity trade between Malaysia and China would be better for having memorandum of understanding (MoU) that would be signed by the late of this year. Vice Minister of Plantation and Commodity, Malaysia, Datuk Chan Foong Hin said that the MoU would be the important moment in the 50 year - commemoration of diplomatic relation between the two countries.
"The MoU would be accomplished by the late of this year, when Chinese Prime Minister, Li Qiang would visit Malaysia or when Minister of Plantation and Commodity Malaysia, Datuk Seri Johari Abdul Ghani would be visiting China,” Chan said.
The MoU would be signed by Malaysia’s Minister of Plantation and Commodity and Minister of Agriculture and Rural Affairs of China. Chan also mentioned, by the collaboration, palm oil trade would be better and would hit the new highest level in the history. The increasing palm oil exports with additional values to China would be part of new direction in the ministry.
China has become the biggest trade partner of Malaysia for the past 15 years in a row. The two countries have had friendly and collaborative connection. In 2023, Malaysia exported goods for about RM 192,2 billion to China with the agricultural exports reaching about RM 11,03 billion, then rubber (RM 5,43 billion), wood (RM 2,83 billion), cocoa (RM 684 million), tobacco (RM 18,43 million), and pepper (RM 11,88 million).
