Malaysia and Morocco have concurred on the need to enhance bilateral trade, with both respectively eyeing ways to increase palm oil and phosphates/fertilizers exports, as well as other products, with one another.
This was the outcome of talks between Malaysian Plantation Industries and Commodities Minister Tan Sri Bernard Dompok and Morocco’s Foreign Trade Minister Abdellatif Mazouz here Thursday.
Official figures showed that total trade between Malaysia and Morocco stood at only US$70 million last year.
“Of course I’m particularly interested in the export of palm oil because Malaysia is one of the biggest producers and exporters of palm oil.
“And I think that there’s enough interest among the business community in Morocco to go further into this,” said Dompok when briefing reporters on the outcome of the meeting in the Moroccan capital.
According to him, Malaysian embassy officials here were expected to have further discussions with Foreign Trade Ministry officials to move things forward, including trying to do business matching among the private sectors in the two countries.
In 2008, Malaysia exported 9,657 tonnes of palm oil and palm oil products to Morocco valued at RM37.8 million.
Morocco’s edible oil market is currently dominated by soft oils comprising mainly of soybean and sunflower oils.
Dompok said Malaysia was producing a lot of agriculture products which entailed the need for fertilizers.
“And Morocco is in a very happy position of being able to supply the materials used for fertilizers. So they are keen to see how this can be developed with Malaysia,” said the Malaysian minister.
He expressed optimism that Morocco would be able to buy more palm oil and related products from Malaysia, as well as serve as a springboard into the surrounding region and beyond.
Dompok also met with senior officials from the Ministry of Industry, Trade and New Technologies.
The minister is in Morocco on a mission to further promote Malaysian palm oil trade following a trip to Turkey where he opened the Palm Oil Trade Seminar (POTS) 2009 in Istanbul as well as the Malaysian Palm Oil Council regional office.
He leaves Morocco Friday.
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