PALMOILMAGAZINE, KUALA LUMPUR — Malaysia has reaffirmed its commitment to remain a reliable supplier of sustainable palm oil to India, while both countries agreed to deepen collaboration across the palm oil value chain, particularly in downstream and high value-added products.
The commitment was conveyed by Malaysian Prime Minister Anwar Ibrahim during a meeting with Indian Prime Minister Narendra Modi, marking another step forward in strengthening bilateral ties.
In a joint statement, the two leaders emphasized enhanced cooperation in oil palm cultivation and agreed to promote structured engagement to address market access issues in a timely manner. They also committed to expanding collaboration in downstream processing and the development of higher value palm-based derivatives.
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Both sides highlighted the importance of the Malaysia-India Comprehensive Economic Cooperation Agreement (MICECA) and the ASEAN-India Trade in Goods Agreement (AITIGA) as key pillars supporting stronger bilateral and regional economic relations.
Anwar and Modi welcomed the ongoing review of AITIGA, aiming to make it more mutually beneficial, trade-facilitative, and aligned with current global trading practices. They also acknowledged MICECA’s significant potential to further deepen Malaysia–India economic ties and encouraged its optimal utilization.
On the investment front, Modi underscored India’s role as a major investment destination for Malaysian companies. Meanwhile, Anwar welcomed the strong presence of Indian manufacturing and technology firms in Malaysia, noting their contribution to the creation of high-skilled employment opportunities.
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The two leaders agreed that connectivity remains a critical factor in strengthening economic cooperation. They expressed appreciation for the growing air and maritime connectivity between Malaysia and India and committed to further enhancing these links.
As reported by Bernama, the agreement reflects both nations’ determination to broaden their strategic partnership, particularly in the palm oil sector, amid rising global demand for sustainability and higher value-added products. (P2)
