Malaysia, Indonesia seek new ways to boost palm oil industry

KUALA LUMPUR: Malaysia and Indonesia have discussed and agreed to explore new measures to further improve cooperation in the oil palm industry in light of the current global economic environment. 

In a joint statement issued after a bilateral meeting here today on the development of the industry, both countries said they would also work towards improving the perception about palm oil, including its nutritional and sustainable production.

According to the statement, among issues discussed at the meeting was collaboration in assisting smallholders in the face of global challenges. 

Indonesia's Coordinating Minister for Maritime and Resources Rizal Ramli, and Malaysia's Minister of International Trade and Industry Datuk Seri Mustapa Mohamed, led a delegation from the two countries for the meeting.

Rizal was joined by the Minister for National Development Planning, Sofyan Djalil.

Other Malaysian Ministers who attended the meeting were Minister of Plantation Industries and Commodities Datuk Douglas Uggah and Minister of Rural Development Datuk Seri Ismail Sabri Yaakob, and Deputy Minister in the Prime Ministers Department, Datuk Razali Ibrahim.

"We are committed to exploring joint efforts aimed at ensuring remunerative income for the smallholders of both countries," the statement said, adding, this effort was in line with the ASEAN spirit of cooperation and inclusive growth.

The two countries are also fully supportive of initiatives to promote cross-border investments in the development of the oil palm industry. 

This includes the recently announced proposal by Felda Global Ventures Holdings Bhd and PT Eagle High Plantation to explore opportunities in the downstream sector.

Both Malaysia and Indonesia intend to realise this vision as soon as possible, the statement said. - Bernama