Tun Dr Mahathir Mohamad: "When it comes to palm oil, what’s needed is dialogue and engagement to achieve joint solutions, including better regulation and stronger certification standards. This is why Malaysia still holds out the hand of friendship to the EU in the hope that a fair, honest and reciprocal trade relationship can be salvaged."
POST-BREXIT, the UK will have a historic opportunity to strike a trade deal with one of the world’s fastest-growing regions and prove that it can shed European red tape and protectionism. The key is to rethink the European Union’s misguided policy on palm oil.
In 2017, the European Parliament approved a resolution to phase out and eventually ban biofuels made from palm oil, a major export for Malaysia and Indonesia. Earlier this year, the European Commission limited the types of biofuels from palm oil that can be counted toward Europe’s renewable-energy goals. The restrictions could, despite our best efforts, trigger a trade war with producer nations.
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