With a consistent strategy, Malaysia has identified Azerbaijan as one of its key emerging markets, especially in the context of the expanding food processing and manufacturing sectors, Ambassador Extraordinary and Plenipotentiary of Malaysia to Azerbaijan Ahmad Kamrizamil Mohd Riza said during the Malaysia-Azerbaijan Trade, Business and Tourism Seminar, titled "Strengthening Relations between Malaysia and Azerbaijan through Economic and Tourism Cooperation", held in Baku, EDnews reports.

The ambassador noted that the palm oil production ecosystem in Malaysia has been developing steadily since 2015, thanks to the national certification of Malaysian Sustainable Palm Oil (MSPO) - the standard for sustainable Malaysian palm oil. MSPO certification covers the full cycle: from growing oil palms to manufacturing finished products.

"We strongly believe that Malaysian palm oil can effectively support Azerbaijan's food chain through a diversified and sustainable supply chain. Azerbaijan, which promotes green technologies, eco-friendly products, and renewable energy - especially in light of its COP29 presidency - provides a favorable environment for the export of MSPO-certified palm oil," said Kamrizamil.

He added that Azerbaijan's palm oil imports in 2024 amounted to $82.2 million, of which $29.9 million came from Malaysia, making it the second largest supplier of palm oil to the country. He also stressed that Malaysia's total palm oil exports in 2024 reached $29 billion, with China, the EU, Türkiye, and emerging markets such as Azerbaijan being the largest importers.

"We look forward to further expanding palm oil trade with Azerbaijan," the diplomat noted.