Indonesia, Malaysia to bolster cooperation in palm oil industry

Indonesia, Malaysia to bolster cooperation in palm oil industry

Coordinating Minister for Economic Affairs Airlangga Hartarto received Malaysia's Minister of Plantation Industry and Commodities Zuraida Binti Kamaruddin in Jakarta on Sunday (Oct 24, 2021). ANTARA/HO-Coordinating Ministry for Economic Affairs/sh

In responding to the massive negative campaign on palm oil products, as palm oil producers, Indonesia and Malaysia need to counter it by launching an effective and efficient positive campaign that is right on targe
Jakarta (ANTARA) - Indonesia and Malaysia have agreed to intensify bilateral cooperation in the palm oil industry and to counter the negative campaign on palm oil.

"In responding to the massive negative campaign on palm oil products, as palm oil producers, Indonesia and Malaysia need to counter it by launching an effective and efficient positive campaign that is right on target," Coordinating Minister for Economic Affairs Airlangga Hartarto noted in a statement obtained here on Monday.

According to Hartarto, Indonesia lauded the progress in the Countering Anti Palm Oil Campaign, launched by the Council of Palm Oil Producing Countries (CPOPC).

The program has included the advocacy program in the European Union, positive campaign through social media channels in all EU member countries, and developing communication and promotion strategy in palm oil consumer countries.

Indonesia has lauded the establishment of the CPOPC Scientific Committee that focuses on research and development activities to enrich public knowledge on the palm oil commodity.


Related news: President targets raising biodiesel production to save forex

"We want to emphasize the importance of CPOPC member countries to intensify efforts to ensure sustainable palm oil price. We underline the positive trend in palm oil demand," Hartarto affirmed.

Palm oil-producing countries should take precautionary measures against fluctuations in crude palm oil prices by stepping up domestic consumption, including the mandatory mixed biodiesel B30 program in Indonesia and B20 in Malaysia.

At the 8th CPOPC meeting held virtually on February 26, Indonesia was elected to chair CPOPC in 2021.


Related news: Hope Malaysia will join fight against oil palm discrimination: Widodo

Hartarto noted that Malaysia had become a major partner for Indonesia in trade and investment.

The bilateral trade volume was recorded at US$15.03 million in 2020 and US$13.43 million during the January-October 2021 period.

Hartarto stated that during the first semester of 2021, foreign investment from Malaysia had reached US$706.8 million spread across 1,324 projects.

"I want to reaffirm Indonesia's commitment to continuing our close cooperation with Malaysia. I believe that instead of the COVID-19 pandemic, there are many opportunities that can be explored by both countries in future," he stated.


Related news: Minister cautions against global issues with spillover impact

Related news: Mass vaccination becomes nation's efforts to end pandemic: Jokowi

Comments