NEW DELHI: Malaysia is looking at setting up a palm oil logistics and marketing hub in Egypt to boost its commodities exports to Africa.
Egypt is keen to work with Malaysia to develop a palm oil storage, distribution and marketing facility catering to neighbouring markets, Plantation Industries and Commodities Minister Datuk Zuraida Kamaruddin (pic) told Bernama in New Delhi on Monday (Feb 21).
"They (Egypt) want to be a hub in that region. We can develop it with the private sector's participation," she said.
The Malaysian minister is on a four-day working visit here that began last Sunday (Feb 20).
She said that the idea fits with Malaysia's efforts to tap new markets for its major commodity exports.
In January, Malaysia set up the Commodity Integrated Marketing Company in Jeddah to grow palm oil, timber and rubber exports to Saudi Arabia.
Similar companies may be set up in new locations in Central Asia, South Asia and East Asia, Zuraida added.
"We will focus on Egypt in the second phase," she added.