"It is very historic and significant. The discussion is realization of a form of cooperation on palm oil that has been discussed formally and concretely for a long time," he said after meeting with President Joko Widodo.
He said discussion on palm oil industry has gone since 2006.
At the time an agreement was already made but it could not as yet be implemented into a formal structure then and therefore could not as yet be followed up, he added.
In view of that the discussion this time was historic and very significant because it had produced a concrete result, he said.
The two heads of state agreed to set up Council of Palm Oil Producing Countries (C Pop) with its headquarters to be set up in Jakarta, Indonesia.
The two countries are currently seeking to establish a task force to prepare harmonization of industrial standards that would be implemented globally.
The plan was made to improve the welfare of oil palm farmers in Indonesia as well as in Malaysia.
At present palm oil production of Indonesia and Malaysia reach 85 percent of the world's production.
"Apart from that it could become an entity to maximize the potential of palm oil not only at upstream but also downstream to give an added value to the two countries' economies," Najib said.
"Palm oil will be managed together and harmonized by a joint task force with its headquarters to be set up in Jakarta," he said. (WDY)
Pewarta: Reporting by Ageng WibowoEditor : I Gusti Bagus Widyantara
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