InfoSAWIT, KUALA LUMPUR – The Malaysian Palm Oil Council (MPOC) has urged stakeholders in Malaysia's palm oil industry to seize the significant opportunities presented by the Malaysia-UAE Comprehensive Economic Partnership Agreement (MY-UAE CEPA).
This agreement is expected to have a positive impact on the palm oil sector, particularly through the elimination or reduction of tariffs, which will facilitate broader access for Malaysian palm oil products to the UAE market and beyond.
MPOC CEO Belvinder Sron emphasized the importance of the UAE as a strategic market in the Middle East. “As a major trading hub, the UAE serves as a gateway to significant regions such as the Middle East, North Africa, and Europe. With the implementation of MY-UAE CEPA, Malaysian exporters will enjoy tariff-free access, enhancing the competitiveness of palm oil products in these regions,” Belvinder stated, as reported by InfoSAWIT from News Straits Times on Saturday, January 25, 2025.
MPOC is committed to strengthening the presence of Malaysian palm oil in the UAE market by enhancing existing sectors and exploring new opportunities, such as packaged products, specialty fats, and shortenings. To support this, MPOC has planned targeted promotional initiatives, including trade networking events and industry and consumer awareness campaigns in the region.
MPOC also invites industry players to actively participate in these initiatives to take advantage of the expanded market access. “Together, we can strengthen Malaysia's position in this important market and achieve sustainable growth for the palm oil industry,” Belvinder added.
In 2024, the UAE imported 170,534 metric tons of Malaysian palm oil. With the CEPA agreement in effect and various promotional efforts underway, exports and market share of Malaysian palm oil in the UAE are expected to grow significantly in the coming years. This initiative presents a substantial opportunity for Malaysia to enhance the competitiveness of its products in the global market while reinforcing the role of palm oil as a key commodity for the country. (T2)
