16 Jul '17, 10am

Malaysia, Indonesia may take EU plan to curb palm oil imports to WTO - The Straits Times

KUALA LUMPUR (REUTERS) - 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 (July 16). A resolution by the European Parliament in April called for the EU to phase out by 2020 the use of vegetable oils in biodiesel that are produced in an unsustainable way leading to deforestation. The resolution includes palm oil, an important commodity for Indonesia and Malaysia, which produce nearly 90 per cent 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". Get The Straits Times newsl...

Full article: http://www.straitstimes.com/business/malaysia-indonesia-m...

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