AreaChina (Mainland)
Commodity GroupOilseeds, oils and meals
CommodityPalm oil
Date01/04/2019
Policy CategoryTrade
Policy InstrumentBilateral, sector-specific trade initiatives
DescriptionFrom April 2019 to June 2019: Signed a memorandum of understanding (MoU) whereby China would step up its purchases of Malaysian palm oil and derived products over the next 5 years. The two countries also agreed to set up, in China, an aviation biofuel plant, and to develop the countrys production of unsaturated fat. Furthermore, a Chinese state-owned enterprise was chosen to resume construction of Malaysias East Coast Rail Link, along with commitments by China to increase its purchases of Malaysian palm oil. The two countries also agreed to simplify the procedures for importing Malaysian palm oil into China.
Notes-
