KUCHING: Malaysia aims to increase its export value of palm oil to China above RM14bil this year, says Datuk Seri Fadillah Yusof.

The Deputy Prime Minister said a visit to China would be arranged to strengthen the trade between both countries, particularly in palm oil.

“China is one of our biggest importers of palm oil, so this will be a trade mission to try to increase our palm oil export.

“Last year, the export value of palm oil to China was RM14bil. We expect a consistent increase this year,” he told reporters after opening the International Pepper Community’s (IPC) 51st annual session and meeting here on Tuesday (Nov 7).

Fadillah said the proposed visit to China also aimed to strengthen bilateral relations between the two countries.

He said this was significant as next year would be the 50th anniversary of Malaysia-China diplomatic relations.

It was previously reported that Malaysia exported 3.14mil tonnes of palm oil and palm-based products worth RM14.86bil to China last year.

This made China as Malaysia’s second largest palm oil export market last year, accounting for 11.2% of the country’s total palm oil exports.

Source : The Star