money

Export value of palm oil, palm products to China rises to RM4.56b

File photo of a labourer pushing a cart of palm oil fruits at Felda Bukit Cerakah in the district of Klang, outside Kuala Lumpur April 16, 2014. — Reuters picFile photo of a labourer pushing a cart of palm oil fruits at Felda Bukit Cerakah in the district of Klang, outside Kuala Lumpur April 16, 2014. — Reuters picSHAH ALAM, Sept 30 — The export value of Malaysia’s palm oil and palm-based products to China has increased 19 per cent to RM4.56 billion in the first seven months of this year compared with RM3.83 billion in the same period last year.

Plantation Industries and Commodities Minister, Datuk Seri Mah Siew Keong, said during the period, the export value of rubber and rubber-based products to the republic had also increased to RM4.89 billion, more than doubled the RM2.43 billion recorded in the same period in 2016.

“The ministry expects China to continue to be an important driver of export growth in the commodity sector, especially when consumers nowadays are getting more and more environmentally conscious and health conscious,” he said to reporters after attending the ‘Celebrating 35 years of Achievement in the People’s Republic of China’ event at the interactive wax museum, Red Carpet 2@i-City here, today.

Present was I-Berhad Executive Chairman, Tan Sri Lim Kim Hong. Mah said his ministry was also confident that the close relations between Malaysia and China in various aspects currently will continue to give a positive impact on the economy including growth in commodity export revenue to China in the future.

“These strong trade links between China and Malaysia are the result of our persistence for bilateral negotiations, by both the Malaysian Government and private sector…there’s no limit to our relations and we will also broaden to other areas like tourism,” he said.

Meanwhile, Mah said his ministry had outlined several proposals, as well as, allocation application for Budget 2018 which will be tabled by Prime Minister Datuk Seri Najib Razak in Parliament on October 27.

“Indeed, we have voiced out a few proposals for this budget, aimed to further develop the related industries…however, it’s up to the prime minister to approve (them) or not,” he said.

Earlier during his visit to the wax museum, Mah was given a briefing on how high-technology rubber was used in parts of the construction of the wax museum which features 100 characters including US President Donald Trump. — Bernama

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