Malaysia Reaffirms Commitment To Remain Reliable Palm Oil Supplier To India

PUTRAJAYA, Feb 8 (Bernama) -- Prime Minister Datuk Seri Anwar Ibrahim has reaffirmed Malaysia’s commitment to remain a reliable supplier of sustainable palm oil to India.

In this regard, Anwar and his Indian counterpart Narendra Modi encouraged deeper collaboration in oil palm cultivation.

According to a joint statement by the two countries, both sides also agreed for collaboration in value chain development of palm oil, including downstream, higher value-added palm-based products. 

“Both sides also agreed for structured engagement on timely resolution of market access matters,” it said.

Meanwhile, the statement stated that the two leaders emphasised the importance of the Malaysia-India Comprehensive Economic Cooperation Agreement (MICECA) and the ASEAN-India Trade in Goods Agreement (AITIGA).

Anwar and Modi welcomed the ongoing review of AITIGA to make it mutually beneficial, trade facilitative and relevant to current global trading practices. 

“Both leaders also appreciated MICECA for its potential for deepening economic relations and encouraged its optimum utilisation,” it said.

Furthermore, Modi highlighted India’s role as a key investment destination for Malaysian companies, while Anwar welcomed the significant presence of Indian manufacturing and technology firms, which have contributed to high-skilled job creation in Malaysia.

“The leaders acknowledged that connectivity is a key determinant and enabler for enhanced economic cooperation. In this regard, they appreciated the growing air and maritime connectivity between the countries and agreed to strengthen it further,” it added.

--  BERNAMA