India, the largest edible oil importer, had halted the palm oil import from Malaysia after it’s PM’s criticism of the Indian government over Kashmir Policy.
Langkawi, Malaysia| Malaysia Prime Minister Mahathir Mohamad on Monday clarified that Malaysia will not take any retaliatory trade actions against India’s boycott of Malaysia’s palm oil. India had halted the import of oil amid a political row between two countries.
India had effectively halted the import this month after Malaysia PM criticized the Indian government’s Kashmir policy. India is the world’s largest buyer of edible oil. Malaysia, on the other hand, is India’s largest supplier of the oil and second-largest in the world.
“We are too small to take retaliatory action,” Mr. Mahathir told the media. He further added, “We have to find ways and means to overcome that.”
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The 94-year old PM of Muslim-majority Malaysia has criticized India’s newly amended citizenship law based on religion. On Monday, he reiterated his stance, calling the act “grossly unfair”.
Malaysian palm exports faced the biggest weekly decline in 11 years when it fell by nearly 10%.
The Indian government is also unhappy with Malaysia for not revoking the permanent resident status of Zakir Naik, who’s charged with accusations of money laundering and hate speech in India.
Malaysia PM said that even if India promises fair trial, Naik faces a risk of vigilante action. He said they will relocate him if they find a third party country which can assure the preacher’s safety.
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