A palm oil and rubber Malaysian delegation led by Deputy Minister of Primary Industries Shamsul Iskandar Mohd Akin for an official two-day visit.
A Monday’ statement said that Shamsul conducted bilateral meeting with the Egyptian Minister of Supply and Internal Trade Aly El Meselhi, visited a vegetable ghee and edible oil factory and had a dialogue with the Egyptian stakeholders.
During the bilateral meeting with El Meselhi, Shamsul assured that Egypt can count on Malaysia for a secured source of palm oil supply.
Malaysian palm oil products are widely used in the food and non-food sectors, such as the production of blended cooking oil, palm based solid fats particularly vegetable ghee and confectionery products and applications in various oleochemical formulation, noted Shamsul.
During a dialogue with Egypt–Malaysia Trade Association/Chamber of Food Industries CFI, Shamsul indicated that Malaysia is keen to explore more opportunities and to further collaborate with the Egyptian business community, especially, in the palm oil and rubber sectors.
He reiterated that there are ample opportunities for palm oil in the Egyptian oils and fats industry and rubber applications for industrial usage in the country.
The dialogue was attended by more than 90 invitees which includes representatives and agencies from the Malaysian Ministry of Primary Industry and representatives of the various Egyptian ministries, oils and fats company and food industry.
Commenting on Malaysian rubber market in Egypt, which is the third largest market for rubber in the Middle East and Northern Africa (MENA), Shamsul said that the export of rubber and rubber products has grown 24.5% in 2017, in comparison to the previous year and generated $31m in revenues for Malaysia.
According to Shamsul, rubber gloves constituted 77% of the total Malaysian rubber market in Egypt.
A palm and rubber economic and investment mission to North Africa included Egypt and Morocco and Columbia was led by Shamsul, to expand existing markets and create new opportunities for Malaysian palm oil and rubber industries.