BANGKOK (Pakistan Point News / Sputnik - 03rd November, 2019) Malaysia may switch from European-made planes to those manufactured by Russia unless the European Union abandons plans to curb palm oil use, Prime Minister Mahathir Mohamad said at the ASEAN business and Investment Summit on Saturday.
In mid-March, the European Commission released a draft regulation that, if adopted, may significantly reduce the amount of palm oil used in biofuel in the EU. Europe argues that palm oil cultivation causes excessive deforestation.
"Well if you cut down on imports of palm oil from Malaysia, we will cut down on some of our imports from you - in equal amount. We will do exactly what Mr. [Donald] Trump does ... Supposing if they don't take Malaysian palm oil, we can stop buying [European] airplanes. We'll buy some Russian planes or something like that," the prime minister said.
In his speech, he also noted that ASEAN should speak with one voice in addressing global issues, including in trade matters.
Malaysia and Indonesia, the world's largest producers and exporters of palm oil, have repeatedly expressed their concerns over the EU potential move. Back in March, Mohamad threatened to retaliate against the EU decision by purchasing new fighter jets from China instead of European manufacturers.
