Malaysia: Germany should treat palm oil more fairly, says Anwar

RBD Palm Oil

Germany

Malaysia

Regulation & Compliances

Published Mar 15, 2024

Tridge summary

Malaysian Prime Minister Anwar has called on Germany to reconsider its stance on palm oil exports, expressing concerns over the EU's no-deforestation rules potentially becoming non-tariff trade barriers. He also encouraged German companies to invest in Malaysia, citing the country's skilled workforce, modern infrastructure, clear regulatory environment, and growth potential. Anwar highlighted Malaysia's leadership in the halal field, suggesting it as an ideal partner for German companies interested in the multi-billion dollar halal product market. Germany has been Malaysia's top trading partner in the EU for the past decade.

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Original content

(Berlin Comprehensive News) Malaysian Prime Minister Anwar believes that Germany should adopt a more inclusive and fair attitude towards palm oil exports to Europe. He also invited German companies to invest in Malaysia. When Anwar visited Germany on Wednesday (March 13), he met with German Deputy Chancellor and Minister of Economic Affairs and Climate Action Habeck. He told the other party that Malaysia was worried that the EU's no-deforestation rules might become non-tariff trade barriers. Indonesia and Malaysia are the world's two largest palm oil producers, accounting for more than 80% of global output. The deforestation-free regulations approved by the European Union last year prohibit the sale of products involving deforestation, including palm oil. Malaysia and India have protested against this new rule and each filed a lawsuit with the World Trade Organization, claiming that the EU's measure is discriminatory and a trade barrier. The WTO Dispute Settlement Panel earlier ...

Source: Zaobao