BUCHAREST, Sept 18 (Bernama) — The Malaysia-Romania Palm Oil Trade Fair and Seminar (POTS Romania 2012) will further enhance palm oil trade and economic relations between the two countries.
Minister of Plantation Industries and Commodities Tan Sri Bernard Dompok said POTS Romania would also serve as a platform to empower Malaysia-Romania partnership and capitalise on the opportunities in palm oil trade in Eastern Europe.
“With a total population of more than 292 million, Eastern Europe is seen as a pivotal stepping stone for Malaysian palm oil to further strengthen its market access.
“This region has showed clear signs of having weathered the economic downturn with exports figures registering a gradual rebound after having declined earlier in response to falling demands from Western Europe,” he said before launching POTS Romania 2012.
Dompok is currently leading an eight-day palm oil promotion mission to France and Romania which includes Malaysian Palm Oil Council Chairman Datuk Lee Yeow Chor, Chief Executive Officer Tan Sri Dr Yusof Basiron and Malaysian Palm Oil Board Director-General Datuk Dr Choo Yuen May.
He said a trade exhibition was a direct and effective platform for participants and exhibitors to meet and interact with their counterparts, suppliers, existing buyers and potential customers.
The business communities from both countries need to foster relations not only with the oil and fats industry players but also with relevant policy and decision-makers in respective areas, he said.
A total of 10 papers covering topics on oils and fats ranging from investment opportunities to nutrition, will be presented during the one-day seminar.
Dompok also encouraged businessmen from Romania to venture into identified new areas in Malaysia’s palm oil sector.
“POTS Romania is designed to strengthen business ties between our countries and I am optimistic that there are ample opportunities for the private sectors of Malaysia and Romania to further explore new business ventures,” he said.
He said among the Eastern European countries, Romania showed an encouraging economic environment, where the Gross Domestic Product (GDP) registered a growth of 2.5 per cent in 2011.
Dompok said Malaysia’s bilateral trade with Romania rose 36.6 per cent to 36.8 million euros in 2011.
“Manufactured goods are Malaysia’s main exports to Romania which include electrical and electronic products, processed food, machinery, appliances and parts, non-metallic mineral products and chemicals and chemical products,” he said, adding that Romania also imported commodities including rubber and crude palm oil from Malaysia.
He said exports of Malaysian palm oil to Romania amounted to 4,846 tonnes in 2011.
“This figure shows the importance of palm oil in trade between Malaysia and Romania,” he added.
Source : BERNAMA
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