As a sign of support for the economic reconstruction and socio-economic recovery efforts of the Palestinian state, Malaysia has agreed to exempt customs duties on several agricultural and food products from the country.
The agreement made through a memorandum of understanding (MoU) for trade and economic cooperation will cover high-potential sectors such as the halal industry, digital economy and small and medium enterprises (SMEs) between Malaysia and Palestine.
Minister of Trade and Industry, Tengku Zafrul Abdul Aziz stated that this move will not only provide direct benefits to both countries but also strengthen the resilience of the Palestinian economy through the development of industrial zones and private sector participation.
The exchange of MoUs was witnessed by Malaysian Prime Minister, Datuk Seri Anwar Ibrahim, while Palestinian imports to Malaysia include agricultural goods such as dates, and Malaysia's main exports are plastics and processed foods.
This cooperation is seen as capable of opening up new opportunities for businesses and communities in both countries as well as strengthening economic ties and Malaysia's solidarity with Palestine's efforts to recover from the conflict.
