Kuala Lumpur [Malaysia], October 9 (ANI): Malaysia is looking to deepen its palm oil trade with India by expanding cooperation beyond crude palm oil into higher-value products, research and technology, with the two countries exploring opportunities to strengthen business partnerships and investment, as reported by Malaysia’s Minister of Plantation and Commodities.In a written interview to ANI, Malaysia’s Minister of Plantation and Commodities, Noraini Ahmad, said India remained one of Malaysia’s most important palm oil markets and highlighted the potential to diversify trade and build stronger commercial ties between the two countries.“India remains one of Malaysia’s most important palm oil markets. This reflects the longstanding commercial relationship between our industries and provides a strong foundation for further cooperation. Malaysia is committed to remaining a reliable supplier of high-quality and sustainably produced palm oil. At the same time, we see considerable potential to diversify our trade beyond crude palm oil,” she told ANI.“Malaysian companies have established capabilities in specialty fats, food ingredients, oleochemicals, personal-care ingredients and other value-added palm-based products. These products can support the growing needs of India’s food, consumer products and manufacturing sectors,” she added.Earlier, Minister Noraini Ahmad visited India on an official mission from September 27 to October 1.Highlighting the scope for further engagement with Indian businesses, Noraini said, “Our engagements with Indian companies during this visit have also allowed us to better understand their sourcing priorities and product requirements. Moving forward, we want to encourage stronger business-to-business connections and closer technical cooperation between the two countries. The next phase of this relationship should therefore focus not only on sustaining trade, but also on expanding into higher-value products that can create greater benefits for businesses in Malaysia and India.”On Malaysia’s plans for the next five years, she told ANI that the priority was to strengthen the overall foundation of palm oil trade with India and ensure that it remained resilient amid changing market conditions.“Over the next five years, Malaysia’s priority is to strengthen the overall foundation of our palm oil trade with India and ensure that it remains resilient as market conditions evolve. We will continue engaging the Indian government and industry stakeholders to support a stable, transparent and mutually beneficial trading environment,” she said.She added that Malaysia intended to deepen cooperation with Indian manufacturers, refiners, trade associations and research institutions through the Ministry of Plantation and Commodities and the Malaysian Palm Oil Council.“Through the Ministry of Plantation and Commodities and the Malaysian Palm Oil Council, we also intend to deepen cooperation with Indian manufacturers, refiners, trade associations and research institutions. This includes greater technical cooperation, knowledge sharing and collaboration in research and product development. We also want to encourage Malaysian companies to explore opportunities in higher-value palm-based products that meet the changing needs of Indian industries and consumers,” she said.Noraini said Malaysia’s focus would remain on strengthening its position as a reliable supplier and building a more diversified and sustainable trading relationship with India, without setting specific numerical targets for trade value or volumes.“Our focus over this period is on strengthening Malaysia’s position as a reliable supplier and building a more diversified and sustainable trading relationship with India. Trade values and volumes will depend on market demand and commercial decisions by businesses in both countries,” she said.On cooperation and investment, Noraini said discussions with government and industry leaders in India had focused on areas where Malaysia’s capabilities could complement the needs of Indian industries, particularly in developing higher-value palm-based products.“Our discussions in India have focused on practical areas where Malaysia’s capabilities can complement the needs of Indian industries. One important area is the development of higher-value palm-based products. This includes specialty fats, food ingredients, oleochemicals and other products used by the food, personal-care and manufacturing sectors,” she said.She also highlighted engagements with Indian companies, including ITC Limited’s Foods Business Division and Godrej Industries Group, to explore potential cooperation in product development, sourcing and supply chain management. Emphasising the importance of quality and responsible sourcing, Noraini said sustainability, traceability and reliability of supply were increasingly important considerations for companies and consumers in both countries.“Our meetings with Indian companies, including ITC Limited’s Foods Business Division and Godrej Industries Group, provided an opportunity to explore potential cooperation in product development, sourcing and supply chain management. We also discussed the importance of quality, sustainability, traceability and reliability of supply. These are increasingly important considerations for companies and consumers in both countries,” she said.Malaysia, according to the minister, is also open to deeper technical cooperation in oil palm cultivation, including the sharing of expertise in planting materials, productivity, plantation management and technology.“Malaysia is also open to deeper technical cooperation in oil palm cultivation, including the sharing of expertise in planting materials, productivity, plantation management and the use of technology. Ultimately, we want to build partnerships that go beyond the buying and selling of products,” she said.Noraini said the broader objective was to develop partnerships that could deliver lasting benefits to both countries through stronger business links, research and investment.“This includes stronger business-to-business links, research collaboration and commercially viable investments that can create long-term value for both Malaysia and India,” she added.Her remarks further add to the strengthening of the wide-ranging partnership with India and come shortly after Malaysian Prime Minister Anwar Ibrahim had earlier paid a visit to India to attend the BRICS Summit, held from September 12-13.During the bilateral meeting with Prime Minister Narendra Modi, the leaders had hailed the expanding two-way investments between the two nations. (ANI)(This content is sourced from a syndicated feed and is published as received. 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