KUALA LUMPUR: The Malaysian Palm Oil Council (MPOC) has signed a memorandum of understanding (MoU) with Turkey’s Izmir Commodity Exchange.
Both parties will expand cooperation in areas of mutual interest to broadly promote the development and use of Malaysian palm oil and Malaysian Sustainable Palm Oil Certification as a valuable commodity.
Plantation Industries and Commodities Minister Datuk Dr Mohd Khairuddin Aman Razali said through the MoU, Izmir Bursa Academy (IBA) has agreed to collaborate through various projects including business and technical information sharing, awareness raising, certification and joint promotional activities.
IBA is the education arm of Izmir Commodity Exchange
“This cooperation is seen as a strategic step that can enhance the development of the Malaysian palm oil industry and market share, ” Khairuddin said in a statement.
In addition, he said the IBA has agreed to coordinate scholarships to representatives, students and academics for training under the academy and Malaysian field studies.
The minister also said that the IBA would assist MPOC to implement an information campaign to 80 million Turks on the nutritional and health benefits of Malaysian palm oil, as well as to increase understanding and explain its nutritional benefits.
“The MoU is also aimed at further boosting the Palm Oil Trade Awareness Programme between the two parties to provide a better understanding of the Malaysian palm oil industry and its benefits. — Bernama