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MY-UAE CEPA a boost for local palm oil exporters to expand in the Middle East

Business Today | 21 January 2025

MY-UAE CEPA a boost for local palm oil exporters to expand in the Middle East

The Malaysian Palm Oil Council believes the recently signed Malaysia-United Arab Emirates Comprehensive Economic Partnership Agreement (MY-UAE CEPA) is set to deliver substantial benefits to the local palm oil industry where provisions are put in place for the elimination or reduction of tariffs thus improving greater access to the UAE and other key markets.

Belvinder Sron, CEO of the Malaysian Palm Oil Council (MPOC) stated, “MPOC recognises the UAE as a critical market within the Middle East.”

“As a leading trade hub, the UAE serves as a gateway to major regions, including the Middle East, North Africa, and Europe. With the implementation of the MY-UAE CEPA, Malaysian exporters will benefit from zero-tariff access, enhancing the competitiveness of palm oil products across these regions,” she added.

The council said it remains committed to promoting Malaysian palm oil in the UAE by strengthening its position in established sectors and exploring emerging opportunities, such as packaged products, specialty fats, and shortening. To support this effort, it has lined up targeted promotional programmes in the region, including trade networking events, and industry and consumer awareness campaigns. The organisation invites the industry players to actively participate in these initiatives to maximise the benefits of this enhanced market access.

In 2024, the UAE imported 170,534 metric tonnes of Malaysian palm oil, with the CEPA agreement in force and these targeted promotional efforts underway, Malaysia’s palm oil exports and market share in the UAE are expected to grow significantly in the coming years.

MPOC is calling on all Malaysian palm oil stakeholders to work together in seizing the opportunities presented by the MY-UAE CEPA.


 source: Business Today