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Indonesia, Malaysia establish Council of Palm Oil Producing Countries

Kuala Lumpur (ANTARA News) – Indonesia and Malaysia signed a document here on Saturday for the establishment of Council of Palm Oil Producing Countries (CPOPC).

Coordinating Minister for Maritime and Resources Rizal Ramli signed the document on behalf of the Indonesian government while Malaysia was represented by Minister for Plantations and Commodities Amar Douglas Uggah Embas. The signing was witnessed by Indonesian President Joko Widodo and Malaysian Prime Minister Najib Razak.

The CPOPC is aimed at promoting, developing and strengthening cooperation in palm oil industry with member countries to ensure that industry contributes more meaningfully to economic development and peoples prosperity, according to a statement received by Antara.

The Council will promote development of palm oil industry among parties in the producing countries, improve smallholders welfare and build a global sustainable palm oil framework.

The CPOPC will also promote cooperation and investment in the development of a sustainable and environment-friendly palm oil industrial region and overcome barriers that this trade faces.

Besides Indonesia and Malaysia as founding countries, the CPOPC is open to all palm oil producing countries, including Brazil, Colombia, Thailand, Ghana, Liberia, Nigeria, Papua New Guinea, the Philippines and Uganda.

For the initial operation, Indonesia and Malaysia will each contribute US$5 million. The CPOPC Secretariat will be located in Jakarta.

The two ministers also proposed a global framework of sustainable palm oil principles or e+POP.

e+POP has nine principles that take into account laws and regulations related to sustainable development that will strengthen the image and promote the positive aspects of palm oil.

Source: www.antaranews.com, Saturday 21 November 2015