KUALA LUMPUR - Closer cooperation with China will unlock new commercial opportunities in the palm oil sector, Malaysian Plantation and Commodities Deputy Minister Chan Foong Hin said on Sunday.

Chan, who is leading a delegation on an official visit to China from May 18 to 24, said Malaysia aims to strengthen bilateral trade relations, unlock new commercial opportunities, and drive innovation within Malaysia's palm oil sector.

"This official visit underscores Malaysia's commitment to deepening economic ties with China, enhancing market access for palm oil products, and supporting sustainable growth across key export sectors," he said in a statement.

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"China is Malaysia's third-largest importer of palm oil and palm-based products globally, accounting for 10 percent of the total palm oil export value in 2024," he added.

Chan will also be attending the Seventh Western China International Fair for Investment and Trade in Chongqing and will host a roundtable meeting with importers from Western China, noting the growing importance of the region as a major palm oil importer.

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"The meeting will also discuss expanding partnerships in Western China, a region experiencing robust market growth and increasing demand for sustainable raw materials," he said.