IPOA and RCEP Cultural Trade Cooperation Center Signed MoU to Reinforce Palm Oil Exports from Indonesia

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The MoU was signed by Lolita Bangun, Vice General Secretary of the Indonesian Palm Oil Association (IPOA) (left), and Willy Wu, Executive Director of the RCEP National Pavilion Committee (right), at the City of Charm Pavilion, Hall B2, during the 21st CAEXPO-CABIS at the Nanning International Convention and Exhibition Center (NICEC) in China. Photo by: Special

PALMOILMAGAZINE, NANNING – The Indonesian Palm Oil Association (IPOA) has strengthened its efforts to expand palm oil trade by signing a memorandum of understanding (MoU) with the RCEP Cultural Trade Cooperation Center. The signing took place during the 21st CAEXPO-CABIS exhibition at the Nanning International Convention and Exhibition Center (NICEC) in China.

The MoU was signed by Lolita Bangun, Vice General Secretary of IPOA, and Willy Wu, Executive Director of the RCEP National Pavilion Committee at the City of Charm Pavilion, Hall B2. The agreement aims to boost palm oil exports from Indonesia to countries within the Regional Comprehensive Economic Partnership (RCEP).

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In her remarks, Lolita Bangun stated that the cooperation is a strategic move to strengthen Indonesia’s palm oil products in the global market, especially in the Asia-Pacific region. “We believe this collaboration will make Indonesian palm oil products more competitive, particularly in RCEP countries. It will play a key role in expanding palm oil trade and promoting sustainable palm oil practices,” she said, according to an official statement quoted by Palmoilmagazine.com on Saturday, September 28, 2024.

Also Read: Indonesia Highlights Green Policy Commitment at 21st China-ASEAN Expo

Willy Wu added that the RCEP Cultural Trade Cooperation Center fully supports the expansion of Indonesian palm oil in the RCEP region. He highlighted the significant potential of Indonesia’s palm oil products and expressed readiness to facilitate their growth.

The signing of the MoU was attended by some officials from Indonesia, such as, Miftah Farid, Director of Primary Product Export Development Ministry of Trade; and Aida Fitria, Head of Civil Society Palm Oil Plantation Fund Management Agency (PO PFMA). Their presence showed that the cooperation would be very important to promote palm oil (products) from Indonesia to many countries.

It is hoped the MoU would positively deliver impacts to develop palm oil (product) trade from Indonesia, namely to promote sustainability and innovation in the agricultural sectors. IPOA would be ready to expand it, not  only from the trade volume but also reinforce palm oil reputation from Indonesia, as the sustainable mainstay commodity and be competitive to the globe.

For information, RCEP is the biggest free trade agreement in the world, involves 15 countries, including 10 countries in Association of Southeast Asian Nation, and the main trade partners, such as, China, Japan, South Korea, Australia, and New Zealand. The agreement would be to reinforce trade relationship in Asia Pasific by eliminating tariff and simplifying trade regulations. (T2)

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