17:37 - 2.07.2025

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July 2, Fineko/abc.az. Thanks to consistent strategy, Malaysia has designated Azerbaijan as one of the key emerging markets, especially in the context of the expanding food processing and manufacturing sectors.

ABC.AZ informs that Malaysian Ambassador to Azerbaijan Ahmad Kamrizamil Mohd Riza made the above-said statement during the Malaysian-Azerbaijani seminar on trade, business and tourism in Baku on the theme "Strengthening relations between Malaysia and Azerbaijan through economic and tourism cooperation".

The diplomat noted that the ecosystem of palm oil production in Malaysia has been steadily developing since 2015 thanks to national certification Malaysian Sustainable Palm Oil (MSPO) , the standard for sustainable Malaysian palm oil. MSPO certification covers the full cycle: from the cultivation of oil palms to the production of finished products.

"We are deeply convinced that Malaysian palm oil can effectively support Azerbaijan's food chain through a diversified and sustainable supply chain. Azerbaijan, which promotes green technologies, eco-friendly products and renewable energy sources, especially in light of its chairmanship at COP29, represents a favorable environment for exporting MSPO-certified palm oil," Kamrizamil said.

He points out that Azerbaijan imported palm oil for $82.2 million in 2024, and palm oil for $29.9 million accounted for Malaysia, making it the second largest supplier of palm oil to the country.

Kamrizamil also underlined that the total export of palm oil from Malaysia in 2024 reached $29 billion, and the largest importers are China, the European Union, Turkey, as well as emerging markets such as Azerbaijan.

"We look forward to further expansion of palm oil trade with Azerbaijan," the diplomat said.