29, May:The Malaysian government is keen to strengthen bilateral trade with India in various areas, especially palm oil."We want to find ways and means by which India and Malaysia can be mutually benefited in the palm oil sector," Malaysia’s Minister of Plantation, Industries and Commodities, Datuk Peter Chin Fah Kui said today.
About ten years back, India used to buy 2.3 million tons of palm oil from Malaysia but it has now decreased to 0.5 million. Today, India is buying most of the palm oil from Indonesia, he said.
"I want to reverse this trend. I want more and more Indian merchants buying palm oil from Malaysia," the minister stated.
Malaysia wants to share benefits of trade with India.
"We want a relationship with India which is not based only on import and export. Our relationship should be on a long-term basis and based on mutual sharing," he said.
At present, Malaysia produces 16 million tons of palm oil and supplies 46 per cent of the world’s palm oil demand.Apart from palm oil, Malaysia has opportunities in commodities like rubber, timber products and jatropha, amongst others, he said.
"India should explore the opportunities which Malaysia has in sectors like rubber, timber products, jatropha and others," he said.
Malaysia Palm Oil Council (MPOC) has also organised a two-day Malaysia-India Palm Oil Trade Fair and Seminar 2008.Malaysia also wants to collabrate in the fields of research and development and IT with India, he added.Courtsey : DD NEWS