KL seeks help on palm oil ventures<\/p>\n
KUALA LUMPUR (AFP): Malaysia yesterday sought assistance to
\npromote tripartite joint ventures in the palm oil plantation
\nbusiness in South America and Africa.<\/p>\n
Primary Industries Minister Lim Keng Yaik said such ventures
\ncould be formed between Malaysian companies, China's state-owned
\ncorporations and local companies in the third countries.<\/p>\n
\"With Malaysia's expertise in palm oil related activities and
\ncoupled with China's need to import palm oil, I think this move
\nwill be of mutual benefit, \" Lim was reported saying by Bernama
\nnews agency.<\/p>\n
He was speaking after bilateral talks with visiting Chinese
\nvice-minister of foreign trade and economic co-operation, Li
\nGuohua, at his office.<\/p>\n
Lim said the joint ventures would enable China to source its
\ntargeted need of six million to seven million tons of crude palm
\noil by 2000.<\/p>\n
Malaysia is the world's biggest palm oil producer, accounting
\nfor 62 percent of the world's total trade production and 22
\npercent of the international oil and fats trade.<\/p>\n
Lim said China's imports of palm oil from Malaysia rose to
\n874,000 tons last year, compared to 40,814 tons in 1986, due to
\nlower import duty, a quota system, familiarization and
\ncollaborative programs.<\/p>\n
China had early this year further reduced import duty to 12
\npercent for processed palm oil and nine percent for crude palm
\noil, he said.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/kl-seeks-help-on-palm-oil-ventures-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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