Inp.polri.go.id - Tangerang Selatan. The Head of the Commodity Futures Trading Regulatory Agency (Bappebti), Didid Noordiatmoko, said on Thursday (19/10/2023) that the Indonesian government is set to collaborate with Malaysia to fight the issueance of European Union's (EU) laws deemed discriminatory against crude palm oil (CPO) exports.
The EU has issued anti-deforestation laws that prohibit imports of goods resulting from forest clearance aimed at ensuring that consumption and trade do not contribute to global deforestation.
"Both countries are major palm oil producers that have been banned by the EU. We are working together so that we can sue the EU and sell our CPO there," he was quoted by antaranews.com as saying.
The collaboration of both countries will be forged on the basis that Indonesia and Malaysia are CPO-producing countries and both have their respective CPO exchanges, Didid added.
Minister of Trade Zulkifli Hasan has recently launched Indonesia's CPO exchange. Prior to the launch of the exchange, Indonesia used CPO exchanges in Malaysia and the Netherlands to determine its CPO price.
Didid asserted that the newly launched CPO exchange could serve as a bridge connecting Indonesia and Malaysia to collaborate rather than a tool for competing.
(mg/inp/pr/nm)
