Deputy Prime Minister Fadillah Yusof has slammed a new European Union (EU) regulation that aims to ban certain products and commodities linked to deforestation and forest degradation.
The Petrajaya MP deemed the regulation - targeting commodities like palm oil, timber, cocoa and rubber - as being detrimental to free and fair trade.
“The deforestation-free products regulation is a deliberate act by Europe to block market access, hurt small farmers and protect a domestic oilseeds market that is inefficient and cannot compete with the cost of palm oil.
“Moreover, this regulation could lead to higher food prices and reduced output at a time of record global inflation,” Fadillah (above), who is also the Minister for Plantation and Commodities, said in a statement today.
He noted that countries will be rated according to the regulation, with restrictions on products to be based on such ranking.
He said the supranational union’s justification for the move was based on “unsound reasoning”.
“Europe’s justifications for promoting this regulation are based on unsound reasoning and have a weak scientific basis. Malaysian palm oil is sustainable and is one of the most certified vegetable oils in the world today.
“The Malaysian Sustainable Palm Oil (MSPO) standard already guarantees Malaysia’s commitment to comprehensive sustainability standards,” he said today, adding that there is no need to add “further costs and burdens".
Fadillah went on to say that it would be offensive to Malaysia if either palm oil or the country itself is given a high-risk rating.
“It would be offensive to Malaysia if either palm oil, or the country, is designated high-risk by the EU regulation. There is no justification for it,” he said.
The minister also commented that the unnecessary regulations on palm oil would worsen the food supply crisis, increase food and energy costs, and harm both the European and Malaysian economies as well as undermine efforts to alleviate poverty.
“The EU must commit to genuine engagement with producing countries,” he added.
According to its website, the EU reached a provisional deal on Dec 6 to ban the import of goods identified as being a “driver of deforestation”, if they originate from land deforested after Dec 31, 2020.
When made effective, all companies importing into the EU will be made to conduct strict due diligence when placing their products on the EU market - which is the second-biggest market for consumption of the targeted products, after China. - Mkini
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