Indonesia looks to Turkey and Macedonia for new biodiesel trade hubs

June 10, 2014 |

In Indonesia, the country is looking to set up new trade hubs for its palm oil in an attempt to reduce its reliance on traditional hubs in China, the EU and India. Potential sites include Turkey and Macedonia. Malaysia’s new preferential trade agreement with Turkey is set to come into effect this month, reducing import tariffs on palm oil by 11% and effectively squeezing Indonesia out of the local market. Therefore the government sees this as an opportunity to improve trade relations via palm oil and biodiesel in order to restore competitiveness.

 

Category: Fuels

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