Malaysia And Indonesia Unite Against New EU Deforestation Bill
The major producers of palm oil in the world, Malaysia and Indonesia, have chosen to band together to oppose a new EU deforestation law, according to Malaysia’s Star newspaper.
Exports of palm oil to the EU would be prohibited unless they were certified as not having involved any deforestation during production. According to the report, Malaysia and Indonesia thought the decision was irrational and damaged trade relations with the EU.
« The cheapest oil in the world is thought to be palm oil. Therefore, the EU’s ongoing maneuvers to safeguard their own products appear to be trade barriers. The World Trade Organization should step in at this stage, » Malaysian Minister for Commodities Fadillah Yuso was quoted in the newspaper.
The minister added that Malaysia and Indonesia are actively negotiating whether to completely halt palm oil imports to the EU.
If the EU continues to obstruct us, one option is to quit exporting to Europe and concentrate on other nations, Yusofa remarked.