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Malaysia to double palm oil exports to China, dodge EU restrictions

The two Asian nations sign infrastructure investment deals worth $4.2bn

A worker unloads palm oil fruit bunches at a factory in Tanjung Karang, Malaysia. Profits at Malaysian palm oil companies have been plummeting.   © Reuters

KUALA LUMPUR -- Malaysia says it will double palm oil exports to China to half a million tonnes annually as the Southeast Asian nation moves against European restrictions on a commodity used in everything from cookies to cosmetics.

The plan was made public on Sunday at the 20th China-ASEAN Expo in the southern Chinese city of Nanning, where representatives of the countries signed investment deals worth 19.84 billion ringgit ($4.23 billion) to develop warehousing, logistics and waste-to-energy power plants in Malaysia.

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