Malaysia on Thursday said it was disappointed by a European Union law that bans the import of goods related to deforestation. The new measures, according to representatives of the state from Southeast Asia, may affect the supply of palm oil to the bloc countries, Reuters writes.
“The law is unfair and aims primarily to protect the EU’s internal oilseed market, which is inefficient and cannot compete with Malaysian palm oil,” Malaysian Minister of Plantation Industry and Commodities Fadillah Yusof said in a statement.
Malaysia is currently working with Indonesia to consider an appropriate response to the new law.
“Malaysia remains open to negotiations with the European Union in order to resolve existing issues regarding market regulation,” Yusof added.
The European Parliament on the eve officially approved the law on combating deforestation, which puts the European Union on the path to reducing the consumption of goods that pose a danger to the forest. Many products can be covered by the new rules: cattle, cocoa, coffee, palm oil, soybeans, wood, rubber, charcoal, paper products, as well as products that contain these goods, have been fattened by them or made using them (for example, leather, chocolate and furniture).
For further deliveries of these items to the countries of the EU bloc, producers will need to prepare “verifiable” information regarding the fact that their goods did not harm forests.
Source: Oleoscope