Despite boycott calls from India, Malaysia to stay firm on Kashmir’s stance

Mahathir seen smiling with Xi flipping through the controversial comic book- Source FACEBOOK

Mahathir seen smiling with Xi flipping through the controversial comic book- Source FACEBOOK

"The problem must be resolved through peaceful means".

Indian Prime Minister Narendra Modi's government called the move to disempower disputed Kashmir an internal matter and criticised countries that have spoken out against the move.

Mohamad added that Malaysia will study the impact of the boycott called by the traders body.

However, Mr Mahathir said on Tuesday that he won't bring the palm oil issue with India to the World Trade Organisation "for the moment". "It would be in the fitness of things, as a responsible Indian vegetable oil industry, that we avoid purchasing of palm oil from Malaysia till such time clarity on the way forward emerges from Indian Government".

"We have regularly looked towards India to provide technology innovations, particularly in the processing of palm oil and I acknowledge wholeheartedly the pioneering role played by Indian entrepreneurs when the Malaysian refining industry was at its infancy".

Back in 2010, India signed MICECA, of which the effective duty on products shipped from Malaysia into India would not be more than a mutually agreed threshold limit.

"While we try to understand the underlying sentiment associated with the SEA advisory with respect to Malaysian palm oil imports, we feel this is a major setback in our progressing cooperation and working relations".

Kok, who is the Council of Palm Oil Producing Countries (CPOPC) chairman, officiated the opening of the Palm Oil Supply and Demand Outlook Conference here yesterday.

CPOPC, established in 2015 as a common government-to-government platform, is tasked to promote global palm oil trade and neutralise trade barriers.

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Representational image of palm oil seeds.

India had strongly criticised Mahathir's remarks at the UN General Assembly last month that Jammu and Kashmir had been "invaded and occupied", saying the Malaysian government should desist from making such comments.

Earlier in the day, Malaysian state news agency Bernama had quoted the chief of the Malaysian Palm Oil Association as saying that curbing purchases from the country would hurt India, too.

India, the world's biggest importer of edible oils, also buys palm oil from Indonesia as well as soybean oil from Argentina and Brazil, and sunflower oil from Ukraine. "We trust you would heed our advice", he said in a statement.

India is a significant buyer of Malaysian palm oil.

The exports would provide Malaysia with 6.84 billion ringgit, as vegetable oil exports accounted for 2.8% of the Malaysian gross domestic product previous year, while they constituted 4.5% of the country's total exports.

The US and China were two of the three biggest export destinations for Malaysia between January and August this year. "We are communicating with our lawyers", Indonesia's Deputy Economic Affairs Minister Musdhalifah Machmud said at the same event.

On June 10, 2019, the EU Parliament passed the Delegated Act to restrict and ban palm oil biofuel altogether by 2030.

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