According to the Business Times, the Malaysian Palm Oil Council signed a memorandum of understanding with China’s New Land and Sea Corridor Operation Co Ltd, planning to promote logistics and trade cooperation on the Qinzhou-Chongqing port route. This agreement will open the way for Malaysian palm oil to further expand into the Chinese market.
Dato’ Tan Fong Heng, Deputy Minister of Plantation and Raw Industries of Malaysia, said that the agreement will not only help to increase the sales and production capacity of palm oil in China, but also deepen the bilateral institutional cooperation in the areas of carbon labeling, biofuels and green materials. He emphasized that Malaysia has the world’s leading sustainable certification system for palm oil, which will play a key role in green economy cooperation.
Meanwhile, Malaysia is also strengthening joint research and development with Chinese research institutions. Malaysia is working with Chongqing Jiaotong University to develop palm oil-based polyurethane acrylates for anticorrosive coatings, Business Times noted. This project is one of China’s key projects to expand the chemical applications of palm oil, and it is currently working with a number of Chinese companies to develop derivatives, with the goal of using palm oil products in a wide range of consumer scenarios, such as soup bases, snacks and environmentally friendly personal care products.
This series of actions shows that Malaysia and China are actively building a green supply chain, promoting palm oil from traditional edible oil to a new blue ocean of chemicals, new materials and environmentally friendly daily chemicals.
