MALAYSIA’S palm oil and palm oil-related exports to China are expected to increase this year, if not maintained at last year’s level, Deputy Prime Minister Fadillah Yusof said.

Last year, exports of palm oil and palm oil-related products from Malaysia to China reached US$3.72 billion (RM17.37 billion). This substantial figure constituted 11.4% of Malaysia’s total global exports of palm derivatives, which equated to RM130.25 billion.

“There are many markets that we have not penetrated in China. Hence, we need to continue to strengthen the trade relationship between Malaysia and China,” he said after holding two bilateral meetings with China’s Minister of the General Administration of Customs Yu Jianhua and Vice-Premier Liu Guozhong in Beijing today.

Fadillah, who is also plantation and commodities minister, said his visit was a follow-up to that by Prime Minister Anwar Ibrahim in March.

During that visit, Anwar met President Xi Jinping to mark his maiden trip to China since coming to power in November last year.

Malaysia also secured a record RM170 billion in investment commitments during that trip.

Fadillah said China is committed to further increasing the import of palm oil and downstream products containing palm oil from Malaysia, which is the world’s second-largest producer of vegetable oil.

He said China plans to raise not only the import of palm oil but also derivatives, including tocotrienol, which is a palm oil-based vitamin E.

‘‘China also wants to see how we could increase cooperation in terms of research and development to boost the use of palm oil in the country,’’ he said.

Fadillah said the meetings also discussed fresh fruit exports to China.

“We exported jackfruit to Nanning this year, and they are keen to increase the delivery of other fruits, including durians,” he said.

Fadillah is scheduled to meet with Agriculture and Rural Affairs Minister Tang Renjian tomorrow.

The deputy prime minister is on his maiden official visit to China from November 12-19. – Bernama, November 16, 2023.