MEDIA RELEASE
FADILLAH: THE MALAYSIA-KENYA TRADE RELATIONSHIP IS
IMPORTANT WITH KENYA AS MALAYSIAN PALM OIL GATEWAY IN
THE EAST AFRICAN REGION
Deputy Prime Minister and Minister of Plantation and Commodities, The Honourable Dato' Sri Haji Fadillah bin Haji Yusof in his keynote address during the Malaysia Palm Oil Forum (MPOF) East Africa 2023 highlighted the importance of the Malaysia-Kenya trade relationship and emphasized the significance of Kenya as a vital market for Malaysian palm oil in the East African region.
MPOF 2023, an event organized by Malaysian Palm Oil Council (MPOC) - a council under the Ministry of Plantation and Commodities was held today in Nairbi, Kenya and was officially inaugurated today by Dato' Sri Haji Fadillah bin Haji Yusof. The event gathered industry players and stakeholders from both Malaysia and Kenya to explore opportunities and foster trade relations in the palm oil industry.
The forum featured prominent local industry players and international experts from Malaysia, Europe, and Kenya as speakers. In his keynote , he emphasized the mutual business relationship between Malaysia and Kenya, highlighting the increasing bilateral trade, which reached USD1.19 billion in 2022.
Under the theme "Pioneering Sustainable Solutions for A Better Tomorrow," the Minister emphasized Malaysia's commitment to providing affordable and sustainable palm oil products to Africa. He acknowledged Kenya's vital role as the 5th largest destination for Malaysian palm oil exports and stressed the importance of sustainable practices and partnerships to ensure a better future for both countries.
Dato' Sri Fadillah addressed the challenges faced by the industry, including market access barriers and negative anti-palm oil campaigns, and emphasized the need for a level playing field for fair competition.
Highlighting Malaysia's own sustainability certification standard, the Malaysian Sustainable Palm Oil (MSPO), the Minister emphasized its mandatory implementation since 2020. The MSPO ensures that Malaysian industries produce Certified Sustainable Palm Oil (CSPO) in accordance with international consumers' requirements.
Dato’ Sri Fadillah highlighted the significant role of palm oil in Malaysia's economy, being the highest-valued agricultural commodity exported in 2022, generating a revenue of RM137.8 billion. He encouraged participants to explore new avenues for expanding the edible oil and palm oil business, particularly in downstream higher value-added palm derivatives.
The Minister encouraged the private sectors of both Malaysia and Kenya to seize the numerous opportunities in downstream higher value-added palm derivatives. He called for partnerships and strategic alliances to explore new avenues for expanding the edible oil and palm oil business, particularly in areas such as oleochemicals, pharmaceuticals, processed foods, specialty products, and consumer brands. By fostering direct interactions between Malaysian palm oil suppliers and buyers, the MPOF aims to establish relationships that lead to enhanced business opportunities for all stakeholders involved.
MINISTRY OF PLANTATION AND COMMODITIES
4 JULY 2023