EU wants to block market access via regulation, says DPM
EU wants to block market access via regulation, says DPM
PETALING JAYA: Deputy prime minister Fadillah Yusof has criticised a new European Union (EU) regulation to ban certain products and commodities often associated with deforestation and forest degradation.
Fadillah, who is also plantation and commodities minister, said the regulation essentially targeted commodities like palm oil, timber, cocoa and rubber, and was 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,” he said in a statement.
He noted that countries will be ranked as high-, standard- or low-risk according to the regulation, with restrictions on products determined by this ranking.
“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.”
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Fadillah said the EU’s justification of the ban was based on “unsound reasoning” as Malaysian palm oil was sustainable and among the most certified vegetable oils in the world.
“The Malaysian Sustainable Palm Oil (MSPO) standard already guarantees Malaysia’s commitment to comprehensive sustainability standards,” he said. “Malaysia will continue to provide sustainable and deforestation-free palm oil to our European and global customers.”
He said unnecessary regulations on palm oil will exacerbate 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 said, adding that Malaysia values the EU as one of its important trading and investment partners.
The EU reached an agreement on Dec 6 to ban the import of products, which have been identified as a “driver of deforestation”, if they come from land deforested after Dec 31, 2020.
It said when the new rules come into force, all relevant companies will have to conduct strict due diligence if they wish to place their products on the EU market.
EU wants to block market access via regulation, says DPM
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