BANGI: The Memorandum of Understanding (MoU) on rubber between Malaysia and Thailand will focus on sustainable rubber production, said Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani.
He noted that Malaysia currently imports US$950 million (RM4.4 billion) worth of natural rubber and rubber products from Thailand annually while exporting only US$105 million to the neighbouring country.
“Many of these rubber products are imported and re-exported to other countries. Therefore, both countries must ensure sustainability to fully benefit from this trade relationship,“ he told reporters after the Malaysian Palm Oil Board Excellent Award 2024 here today.
Johari also highlighted Malaysia’s efforts to rehabilitate approximately 420,000 hectares of abandoned land to enhance domestic rubber production.
“We are in discussions with the Rubber Industry Smallholders Development Authority (Risda) and other government agencies to address this issue effectively,” he added.
Earlier, Malaysia and Thailand reaffirmed their commitment to strengthening investment and bilateral trade through the Joint Task Force on Trade and Investment, with a target of US$30 billion (RM133.58 billion) by 2027.
Thailand’s Prime Minister Paetongtarn Shinawatra, on an official visit to Malaysia from Dec 15-16, witnessed the exchange of the MoU on rubber between Malaysian Rubber Board director-general Datuk Dr Zairossani Mohd Nor and the Rubber Authority of Thailand’s acting governor Sukatus Tarngwiriyakul.
