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INTERVENTION BY

H.E. AMBASSADOR SYED MOHAMAD HASRIN AIDID

PERMANENT REPRESENTATIVE OF MALAYSIA TO THE UNITED NATIONS

 

INFORMAL INTERACTIVE DIALOGUE ON COMMODITY MARKETS

 

Mr. President,

 

1.       At the outset, I wish to thank you for convening this important dialogue. I would also like to thank the FAO, UNCTAD and the panelists for their presentations. My delegation aligns ourselves with the G77 Statement delivered by Pakistan.

 

2.       Commodities play a crucial role in the economies of many developing countries. However, the COVID-19 pandemic has greatly impacted global economic activities, particularly the commodity markets. This has further compounded the many challenges already faced by developing countries in attaining sustainable development.

 

Mr. President,

 

3.       I wish to concentrate on the subject of agricultural-based commodities, or agricommodity. For decades, agricommodity has helped lift millions of Malaysians out of poverty. It has significantly contributed to national socio-economic growth and further boosted job creation. Although the industrial sector has been increasingly prioritised, agricultural and rural sectors remain focus of Malaysia’s development policies in eradicating poverty. Malaysia is currently implementing our National Agricommodity Policy 2021-2030, to advance the agricommodity sector for sustainability and shared prosperity, contributing to the achievement of the 2030 Agenda.

 

Mr. President,

 

4.       Malaysia is of the view that concerns on commodity issues such as palm oil could be addressed through dialogues to enhance mutual understanding on the matter. Drastic actions taken to ban and impose barriers on selected commodities will not only jeopardise bilateral trade relations, but also reverse the hard-won gains in the socio-economic growth of the developing world.

 

5.       I wish to underline that Malaysia is fully committed to adopting a holistic approach to ensure the sustainability and diversification of the agricommodity sector, especially through the adoption of technology and innovation. The Malaysian Sustainable Palm Oil (MSPO) certification has been introduced by the Government to ensure good practices are consistently implemented along the entire supply chain of Malaysia’s palm oil. The implementation of the MSPO certification has been mandatory covering the plantation sector, oil palm mills and smallholders.

 

Mr. President,

 

6.       While Malaysia agrees that diversification and technology transformation would assist developing countries to improve competition in the global market, it is also critically important to ensure open competition in global trade. Ensuring free and fair market access to commodities from developing countries is crucial towards building back better, stronger and greener in the full spirit of inclusivity.

 

7.       To conclude, Malaysia welcomes collaboration with relevant stakeholders to advance the development of the agricommodity sector. Malaysia remains open to sharing its experience and achievements as well as learning from and adopting the best practices of other Member States in this sector.

 

Thank you.