KUALA LUMPUR, Oct 31 (Bernama) -- Using gold dinar can boost the palm oilmarket among the Islamic countries, Deputy Minister of Primary IndustriesDatuk Anifah Haji Aman, said here Thursday."In terms of the industry itself, at least the Islamic countries can tradefreely by using this as a trade settlement mechanism," he said at a"Business Matching Session with Iranian Delegation" organised by the MalayBusinessmen & Industrialists Association of Malaysia (PERDASAMA), towelcome the delegation.

He said that in the case of Malaysia, it is the world's largest producerof palm oil and shipped more than seven million tonnes between January andSeptember this year.

"With the support of our fellow Muslims and consumers around the globe weanticipate by the close chapter of 2002, the production will reach 12million tonnes," he added,

He said that the gold dinar was an idea mooted by Malaysia to helpdeveloping nations to expand mutual procuring activity, while reducing theover dependency on the developed nations for any trade settlement.

"Besides using their trade surplus to finance its own development, theproposal is seen as curtailment on currency manipulation, which hasexperienced contagious financial crisis," he said.

Anifah invited the Iranians to venture into the oil palm industry, whichhas potential to expand in Iran.

He said that Malaysia's palm oil exports to Iran have increased to 70,000tonnes in 2001 from only 15,000 tonnes the year before.

By next year, Malaysia expected to increase the existing export quantitythrough aggressive promotion, he said.

Anifah said that the ministry welcomed any inquiries from the Iranianbusiness circles to discover more about Malaysia's primary industries.

Meanwhile, he said that PERDASAMA, as a business related non-governmentalbody could assume a greater role to maximise the ties between bothcountries.

PERDASAMA president Datuk Moehamad Izat Emir said that the association wasembarking on fostering professional links between exporters and importersof the respective trading nations, and is introducing a group of potentialMalay businessmen to be investors and trade partners with their Iraniancounterparts.

The organisation also disseminates the latest information on the existingMalaysian market, and the economic scenario to boost Malaysia's tradeadvantage. -- BERNAMA