The first half of 2024 saw a significant boost in trade between China and ASEAN, reaching a staggering 3.36 trillion yuan ($463 billion), marking a 10.5% increase compared to the previous year. Among the key commodities driving this growth is palm oil, a crucial edible oil import for China.
Malaysia stands out as China's second-largest source of palm oil imports from ASEAN, trailing only Indonesia. This robust trade relationship is not just about economic growth but also about advancing sustainable practices within the industry.
At a recent Malaysia-China Green Value Chain Partnership roundtable dialogue, industry leaders and government officials discussed the collaborative efforts to make palm oil production more environmentally friendly. CGTN's Emma Ho engaged with these stakeholders to explore how the palm oil trade is aligning with global green agendas, emphasizing sustainable farming practices and reducing carbon footprints.
This partnership highlights the potential of palm oil trade to contribute to greener development goals, ensuring that economic benefits do not come at the expense of the environment. As both nations continue to invest in sustainable technologies and practices, the future of palm oil looks promisingly green.
Reference(s):
cgtn.com
