Malaysia studies effects of India’s proposed trade action following Kashmir remarks
Malaysian Prime Minister Mahathir Mohamad said his administration would track the trade situation with India, which is reported to be contemplating trade curbs in the Southeast Asian nation due to his criticism of Kashmir actions, news wire Bernama reported.
Last week, government and industry sources told Reuters that New Delhi was looking for ways to curb imports of palm oil and other products from Malaysia, in revenge for Mahathir’s speech at the United Nations in September when he said that India had “invaded and occupied” Jammu and Kashmir. Malaysia had been told that it was not getting “nothing formal” from India.
Mahathir said his government would “consider the effect of the action taken by India” said Bernama, owned by the government.
“We are exporting products to Malaysia too. It’s not just one-way trade, it’s two-way trade,” Mahathir was cited in the study as saying.
India is the largest importer of edible oils in the world and is Malaysian palm oil’s largest buyer. According to information from the Malaysian Palm Oil Board, it purchased 3.9 million tons of Malaysian palm oil in the first nine months of 2019.
Core imports from India from Malaysia include petroleum products, live animals and foods, minerals, chemicals and chemicals.