Malaysia and India to Strengthen Palm Oil Industry Cooperation with Focus on Value Creation
PUTRAJAYA, Feb 8 — Malaysia has reiterated its commitment to remain a reliable supplier of sustainably produced palm oil to India, as both countries move to deepen strategic cooperation aimed at enhancing value creation across the palm oil industry.
Prime Minister Anwar Ibrahim and Indian Prime Minister Narendra Modi agreed that bilateral collaboration in the palm oil sector should go beyond primary production, with greater emphasis on value chain development and product innovation.
According to a joint statement released following their bilateral meeting, Malaysia and India agreed to strengthen cooperation across the palm oil value chain, including downstream activities and the development of higher value-added palm-based products to meet evolving global demand.
“Both sides also agreed to pursue structured engagement to ensure that market access issues are addressed in a timely and effective manner,” the statement said.
The two leaders underscored the importance of the Malaysia-India Comprehensive Economic Cooperation Agreement (MICECA) and the Asean-India Trade in Goods Agreement (AITIGA) as key frameworks underpinning bilateral trade and investment ties.
They welcomed the ongoing review of AITIGA, noting that the process is intended to make the agreement more balanced, trade-facilitative and aligned with current global trading practices. Both leaders also encouraged greater utilisation of MICECA to unlock its full potential in deepening economic engagement.
Modi highlighted India’s role as an important investment destination for Malaysian companies, while Anwar welcomed the strong presence of Indian manufacturing and technology firms in Malaysia, which have contributed to industrial growth and the creation of high-skilled jobs.
Both leaders further recognised connectivity as a critical enabler of closer economic cooperation. In this context, they welcomed the growing air and maritime links between Malaysia and India and agreed to further strengthen connectivity to support expanded trade, investment and people-to-people exchanges.
-wilayah.com.my
