Malaysia, Indonesia increase cooperation in investment, commodity

01 Apr 2022

Developments at the Malaysia-Indonesia border areas will be intensified following the opening of Indonesia’s new capital city, Nusantara.

Prime Minister Datuk Seri Ismail Sabri Yaakob said the areas that need to be developed, whether in Malaysia or on Indonesia’s side, would be identified.

“I am grateful that Bapak President has agreed for us to also identify the areas that will be developed by investors from Malaysia in Nusantara in the future,” he said.

He said this at a jont press conference with Indonesian President Joko Widodo after witnessing the signing of a memorandum of understanding on the employement and protection of Indonesian Domestic Workers at Istana Merdeka here today.

Touching on oil palm, Ismail Sabri said both countries have agreed that the price of palm oil should be determined together and not compete in terms of fixing the price.

Malaysia and Indonesia are the main exporters of palm oil and overall control the exports of the commodity.

Source: Bernama