Malaysia, Indonesia may take EU plan to curb palm oil imports to WTOStaff Writer | July 17, 2017
Malaysia and Indonesia plan to raise the prospect of European Union curbs on the imports of palm oil with the World Trade Organisation, both countries said in a joint statement on Sunday.
Trade Two South-east Asian countries
The resolution includes palm oil, an important commodity for Indonesia and Malaysia, which produce nearly 90 percent of the world's palm oil.
The statement, following a meeting between Malaysia and Indonesia's trade ministers, said that the two South-east Asian countries would meet at end-July to "discuss and coordinate" palm oil issues, including organising a joint mission to Europe to "engage with relevant parties and stakeholders".
The two nations will coordinate plans via the Council of Palm Oil Producing Countries (CPOPC), a joint initiative by Malaysia and Indonesia to work together in managing stockpiles and supporting prices.
"Malaysia and Indonesia will consider taking this issue to the World Trade Organisation (WTO) if the Resolution becomes an EU Directive and discriminatory in nature," said the statement, issued by Malaysia's Ministry of International Trade and Industry. ■