Malaysia’s exports to Sri Lanka jumped 44 per cent to RM414.05 million in the first half of the year, up from RM286.23 million in the same period last year.
Plantation Industries and Commodities Minister (Malaysia) Datuk Seri Mah Siew Keong said the increase was largely contributed by palm oil products valued at RM267.71 million, as well as timber and timber products worth RM105.41 million.
This was followed by the export of rubber and rubber products valued at RM35.04 million and cocoa and cocoa products worth RM5.88 million)” he said in a statement following a bilateral meeting with Minister of Primary Industries Daya Gamage, in Malaysia 2nd Sep.
Mah said last year, the export of commodity and commodity-based products to Sri Lanka increased 10.8 per cent to RM651.10 million versus RM587.49 million in 2014.
This was largely contributed by palm oil products (RM414.61 million), followed by timber and timber products (RM153.89 million), rubber and rubber products (RM74.43 million), and cocoa and cocoa products (RM8.16 million), he said.
The meeting concluded that that Malaysia would extend the testing and support services to rubber product manufacturers in Sri Lanka and identified areas of cooperation in the rubber industry, especially in the development of the downstream sector.
“Both leaders also discussed on how to improve market access in both countries in an effort to increase trade in commodity and commodity-based products,” the statement said. (Media Release)