KUALA LUMPUR, July 16 (Bernama) -- Primary Industries Minister Datuk SeriDr Lim Keng Yaik said there is a great possibility of good investmentopportunities with several large companies in China in the oleochemicalindustry and the development of brand products in soap, detergents,toiletries and cosmetic.He said that during his mission to China recently, the Malaysiandelegation met and discuss possible joint ventures with Chinese companiesin the field of these palm oil downstream products.

Dr Lim said this in a statement issued by the ministry upon the minister'sreturn from the Palm Oil Economic and Investment mission to China fromJuly 7 to 15.

Describing the mission as fruitful, he said that the mission started offwith a fruitful meeting with the State Development and PlanningCorporation (SDPC) and the China National Cereals, Oil and FoodstuffsImport/Export Corporation (COFCO) in Beijing regarding the palm oil importquota to China and counter trade issues with that country.

"I am satisfied that I had the opportunity to meet and clarify severalissues with my counterparts in Beijing, Shanghai and Guangzhou, especiallyin relation to the palm oil quota and counter-trade," he said.

The trade mission was aimed at strengthening relations with the relevantministries and agencies related to the palm oil industry to discuss issuesand problems on palm oil trade.

It was also to promote and explore opportunities in investment in palm oildownstream industries, especially in the oleochemical and biomassproducts.

The minister also had a discussion with China Fuxing Pulp & Paper on thestatus of the proposed pulp and paper project in Malaysia.

Apart from that, forums on investment opportunities in palm oil downstreamindustries were also held in Shanghai and Guangzhou to introduce andpromote investment opportunities in palm oil downstream industries throughjoint venture and strategic alliances with private companies China.

The forums received good turnout from the local participants, Dr Lim said.

During the visit, Dr Lim also witnessed the signing of a memorandum ofunderstanding (MoU) for the further development and study on the potentialof using fibre mats in desert like areas around Beijing for reducing sandstorm and planting trees.

A memorandum of an agreement (MOA) was also signed on distributorship ofmachinery and equipment that converts Empty Fruit Bunches (EFB) intomedium density fibreboard (MDF) and pulp and paper. -- BERNAMA

(The informations and opinions expressed in this article represent theviews of the author only. They should not be seen as necessarilyreflecting the views of Palm News)