Defending Malaysia’s Trade Interests In Europe
The Resolution makes multiple unjust accusations against the palm oil industry, without offering any evidence. It does not recognise the positive and essential socio-economic role that palm oil plays in producer countries, by reducing poverty and enabling prosperity for millions of small farmers. It is highly disappointing, and highly unusual, that a trading partner would take such a confrontational approach.
As the EU works on formalising its sustainability requirements into law, what course of action does Malaysia have in mind?
What is critical now is that we in Malaysia – the government and private sector – must formulate a comprehensive and fully-resourced strategy to defend Malaysia’s trade interests in Europe. Securing continued market access for Malaysian palm oil is the over-riding objective.
The Resolution aims at phasing out the use of palm oil in the EU’s biofuels production by 2020. Analysts estimate that the EU uses 3-3.5 million tonnes of its palm oil imports for this purpose. Is this a significant volume in terms of Malaysia’s exports?