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Budget 2023: Ministry to Focus on R&D, Marketing Malaysia's Products Internationally

The Ministry of Plantation and Commodities will look at research and development (R&D) and marketing Malaysia’s products internationally in the re-tabling of Budget 2023 on Feb 24, said Deputy Prime Minister and Plantation and Commodities Minister Datuk Seri Fadillah Yusof.

He said the country heavily depends on imports from foreign countries currently but it is necessary to ensure that Malaysia’s product acceptance can be maintained on the global stage.

“Therefore, we need engagement and appoint foreign experts to consult and make sure our products are accepted on the global front.

“The government will also look into the importance of community farming among smallholders and new products, such as cannabis, as a commodity,” he said on RTM’s 'Naratif Khas bersama Timbalan Perdana Menteri' on Wednesday.

Fadillah also said many efforts had been implemented and will continue to be implemented by the government, for example, introducing standards that are close to international standards in order to fulfil all sustainability commitments.

“At the Malaysian level, we are committed not to open new plantations, which means that there will be no deforestation, but what will happen is the migration from coconut to oil palm plantation, that is (involving) smallholders.

What may be challenging is how these smallholders can meet the standards that have been set.

“Malaysia has introduced the Malaysian Sustainable Palm Oil (MSPO) certification scheme at the international level and there is also the Roundtable on Sustainable Palm Oil (RSPO) so that we will be able to market our products internationally,” he said.

Fadillah said Malaysia will discuss this with Indonesia next week so that this matter is heard by the European Union.

Source: Bernama

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