Malaysia looks at setting up palm oil logistics hub in Egypt
NEW DELHGI - Malaysia is looking at setting up a palm oil logistics and marketing hub in Egypt to boost its commodities exports to Africa.
Plantation Industries and Commodities Minister Datuk Zuraida Kamaruddin said Egypt is keen to work with Malaysia in developing a palm oil storage, distribution and marketing facility to cater to neighbouring markets.
"They (Egypt) want to be a hub in that region. We can develop it with the private sector's participation," she told Bernama here on Monday.
The idea fits with Malaysia's efforts to tap into new markets for its major commodity exports.
Malaysia, in January, set up the Commodity Integrated Marketing Company in Jeddah to grow palm oil, timber and rubber exports to Saudi Arabia.
Similar companies may be set up in new locations in Central Asia, South Asia and East Asia, Zuraida said, adding that, "We will focus on Egypt in the second phase." - BERNAMA
