An EU law bans the import of products that come from land cleared of forests. Read more at straitstimes.com.
LONDON - Indonesia and Malaysia will delay trade talks with the European Union while they seek fairer treatment for small palm oil producers, the Financial Times reported on Wednesday.banning the import of products that come from land cleared of forests was “punitive and unfair treatment towards us and to smallholders in particular”, the report added.
Indonesia’s Coordinating Minister for Economic Affairs Airlangga Hartarto said the policy favoured “large corporations or multinationals” which could afford the level of bureaucracy that the regulation will demand, the FT reported. Indonesia and Malaysia earlier this month sent top officials to the EU to voice concern over the deforestation law, which they believe
The two countries are the world’s biggest palm oil producers and account for about 85 per cent of global palm oil exports.The EU’s landmark deforestation law would also ban imports into the bloc of coffee, beef, soy and other commodities unless companies could provide “verifiable” information the products were not grown on land that was deforested after 2020.
Malaysia’s Mr Yusof, and Indonesia’s Coordinating Ministry for Economic Affairs, did not immediately respond to a Reuters request for comment outside regular business hours. REUTERS
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Indonesia, Malaysia freeze trade talks with EU over palm oil - FTIndonesia and Malaysia said they will delay trade talks with the European Union (EU) while they seek fairer treatment for small palm oil producers, the Financial Times reported on Wednesday.Malaysia's Deputy Prime Minister Fadillah Yusof said the EU's recently adopted law banning the import of products th
Read more »
Indonesia, Malaysia criticise EU for 'discriminatory and punitive' actions against palm oil sectorKUALA LUMPUR: Following a joint trade mission to the European Union (EU), Malaysia and Indonesia criticised the European Union Deforestation Regulation (EUDR) as 'inherently discriminatory and punitive in nature'. In a joint statement on Wednesday (May 31), both countries warned that the regulation would h
Read more »
4 shocking incidents of illegal trade of exotic animals in Singapore and MalaysiaUncover the shocking world of exotic animals smuggling that has become a rising status symbol for some Singaporeans and Malaysians who are spending a fortune.
Read more »
Malaysia detains Chinese ship linked to suspected illegal salvage of British WW2 wrecksKUALA LUMPUR - Malaysia's maritime authorities on Monday (May 29) said cannon shells believed to be from World War Two have been found on a China-registered bulk carrier ship detained at the weekend for anchoring in its waters without permission. The discovery comes amid reports this month that scavengers have targeted two British World War Two wrecks off the coast...
Read more »
Malaysia detains China-linked vessel amidst suspicions of illegally salvaging British WWII wrecksMalaysian maritime authorities revealed recently that cannon shells believed to be from World War II have been discovered on a China-registered bulk carrier ship that was detained over the weekend for anchoring without permission in Malaysian waters, according to a report by Reuters. The discovery comes in the wake of recent reports that scavengers have…
Read more »
1MDB fraud mastermind Jho Low hiding in Macau, says Malaysia’s anti-corruption body in reportMalaysia’s anti-graft regulator have confirmed that it suspects alleged 1Malaysia Development Berhad (1MDB) fraud mastermind Jho Low is hiding in the Chinese special administrative region of Macau. Read more at straitstimes.com.
Read more »