KARACHI, April 19: Malaysian Minister of Plantation Industries and Commodities Datuk Peter Chin Fah Kui has said that Pakistan is the third largest importer of palm oil after China and the EU.

Addressing a press conference on the conclusion of Malaysia-Pakistan Palm Oil Trade Fair and Seminar 2007 held from April 17-19, he said Malaysia produced 15.88 million tons of crude palm oil in 2006 compared to 14.96 million tons in 2005. Total export revenue of palm oil products in 2006 was $8.84 billion, which was one of the biggest prime movers of the Malaysian economy.

He said Malaysia will continue to support the development of palm oil industry in Pakistan. The pledge is reflected when Malaysia signed an agreement in 2000 to assist Pakistan Oilseeds Development Board (POSB) by supplying palm oil seed to Pakistan, says a press release.