Malaysia, PH push palm oil joint venture

Trade and Industry Secretary Ramon M. Lopez also reported that both countries have agreed to pursue a joint venture for the initial 200,000 to 300,000-hectare palm plantation and palm oil processing facility in Mindanao. The Malaysian side also agreed to help the Philippines develop its halal capability so it can participate in the huge halal market. The Malaysia Chamber of Commerce and Industries Philippines, Inc. was also launched at the sidelines of the meeting. The chamber, the first foreign chamber from the ASEAN member states in the Philippines, will assist in cross-promoting opportunities for companies and professionals. There are currently 25 members of the Malaysian Chamber to complement the role of the Malaysian embassy in enhancing Malaysia – the Philippines’ economic relations. (BCM)