M’sia to fight discriminatory trade practices against agricommodity


KL26_06092022_KKR_CONFERENCE

BRUSSELS: The government will fight against any discriminatory trade practices against Malaysia’s agricommodity sector, says Deputy Prime Minister and Plantation and Commodities Minister Datuk Seri Fadillah Yusof.

As a producing and trading country, Malaysia is deeply concerned over the law’s implementation and the implications not only for palm oil but also its other main commodities such as timber, cocoa, and rubber, said Fadillah, who is on a Malaysia-Indonesia joint trade mission to the European Union (EU) to defend the palm oil industry following the implementation of the European Union Deforestation Regulation (EUDR).

“Some aspects of the risk-assessment process of the regulation are counter-productive to commitments to curb global deforestation and run the risk of disincentivising producing countries,” he said at a luncheon with the Malaysian diaspora here yesterday.

Fadillah pointed out that the implementation of the regulation, announced by the EU on Dec 6, 2022, is based on unsound reasoning and has a weak scientific basis.

The EU is currently developing due diligence reporting to ensure companies comply with the EUDR.

“It places additional burdens on Malaysian palm oil exporters to the EU market, specifically on the additional traceability requirements and data that must be provided to end-customers based in the EU,” he said.

The EU accounts for 9.4% of Malaysia’s palm oil export volume or 1.47 million tonnes. Fadillah said Malaysia values the EU as one of its important trading and investment partners. — Bernama

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