Meanwhile, the Prime Minister is also expected to witness the signing of an MoU between Sime Darby Plantation Bhd and China National Cereals, Oils and Foodstuffs Corp Group on “technical development on further downstream application for palm oil and palm-based prodcts in the country.
Kok will then lead an economic, promotion and investment mission in Beijing and Guangzhou from Aug 21 to 24 to promote Malaysia’s commodities.
Her delegation will comprise officials from the ministry, the Malaysian Palm Oil Board, Malaysian Rubber Board, LGM Properties Corporation, Malaysian Palm Oil Council, Malaysian Rubber Export Promotion Council, Malaysian Timber Council as well as the private sector.
The mission aims to explore market and investment opportunities, industry collaborations between the private sectors of both countries to further strengthen trade and investment, and facilitate trade and address trade and investment issues.
She will have several high-level bilateral discussions including with Zhong Shan, Minister of Commerce, to discuss possible collaboration to promote joint investment in the palm oil and rubber industry.
Kok’s meeting with Ni Yuefeng, Minister of General Administration of Customs, will discuss joint efforts to facilitate the export of Malaysian palm oil to the Republic and formulate mechanisms related to food quality or safety risk.
She will arrive in Guangzhou on Aug 23, where she will visit FGV China Oils Ltd Co for an insight into FGV operations in China.
Sime Darby Plantation and COFCO in deal to undertake palm oil-related projects
BEIJING: Sime Darby Plantation Bhd (SDP) is looking forward to positive results from its collaboration with China-based COFCO Group Co Ltd (COFCO) on a number of new palm oil-related ventures.
Both parties signed an MoU for the collaboration at the China World Summit Wing, which was witnessed by Prime Minister Tun Dr Mahathir Mohamad as part of his five-day official visit to China.
The MoU included a joint research on the health benefits of palm oil, developing capabilities to manufacture specialty oils and fats, and establishing joint sales and marketing activities to promote high value differentiated palm products in China.
Through these initiatives, SDP and COFCO hoped to create greater demand for certified sustainable palm oil and increase trade volumes between the two companies.
At the signing ceremony, SDP executive deputy chairman and managing director Tan Sri Mohd Bakke Salleh said SDP is excited with the prospect of a close collaboration with COFCO, a leading agriproduct merchandiser and food production company in China.
“This MoU truly reflects our aspiration to be the leader in promoting the health benefits of palm oil and to produce certified-sustainable, high value palm oil products for the global market.
“We look forward to seeing the positive results of combining Sime Darby Plantation R&D capabilities with COFCO’s expertise in advanced health-based food research,” he added.
Under the terms of the MoU, SDP and COFCO would conduct further research on the health benefits of products such as palm tocotrienol, red palm olein, and palm kernel oil.
In addition, the two companies intend to develop specialty products such as premium shortening and bakery fats for the Chinese market, and to explore possibilities to co-manufacture these healthy oils and specialty fats in Malaysia.
Bakke pointed out that “China is a key market for Malaysian palm oil and SDP is proud to contribute towards increasing trade volumes and strengthening of relations between Malaysia and China.”
He said SDP viewed its cooperation with COFCO as a significant milestone in enhancing the commercial relationships of both countries.
“We would like to applaud the Primary Industries Ministry for its role in initiating this collaboration,” added Bakke.
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