KUALA LUMPUR: PLS Plantation Bhd has signed a strategic partnership agreement with COFCO Food Import Co Ltd, China's largest food processor to develop and implement food security initiatives within the One Belt, One Road initiative.
The partnership marked a great milestone for PLS Plantations that can propel the company further to achieve their ambition in becoming food production's global leader.
Under the agreement, PLS Plantations and COFCO Food Import are set to exchange information and knowledge on food security initiatives, and collaborate on food security research and development.
The agreement also oversees both companies jointly invest and implement food security projects resources, technologies and expertise sharing as well as to conduct joint training and capacity-building activities related to food security initiatives.
The scope of this agreement includes agriculture development, food reserves, food safety, poverty alleviation, food production, food imports and food pricing.
PLS Plantations chairman Tan Sri Nazir Razak expressed excitement and pride following the establishment of a strategic partnership with China's largest food processor.
"As we recognise the importance of food security, we believe that it is vital for us to collaborate with some of the leading players in the industry to push forward innovation and scale economies that will strengthen our nation's food security.
"By combining our expertise in food production with COFCO Food Import's extensive resources and experience in the downstream segment, we aim to create a sustainable, efficient and environmentally responsible food ecosystem for the future. We will look for innovative solutions and technologies to address critical challenges such as climate change, soaring fertiliser costs, and the ever increasing demand for food," Nazir said.
He is confident that this partnership will lead to further collaboration and expansion into other plantation activities such as forest plantation, cash crops, and other agricultural & aquacultural activities to be identified as part and parcel of the National Food Security Enhancement.
Meanwhile, COFCO Food import general manager Wu Yiran said COFCO Food's top priority is to address China's food security and the partnership with PLS Plantations offered priceless opportunity to manage the growing challenges together.
"This partnership addresses domestic food security concerns and fosters mutual growth and development for China and Malaysia as we work collectively towards achieving self-sufficiency in food production.
"In doing so, we aspire to create a model of international cooperation demonstrating how shared goals and collaborative efforts can effectively alleviate global food security concerns and benefit all parties involved,"she said.
On August 24, 2022, PLS Plantations and COFCO Food Import established their strategic partnership through the Malaysia durian and durian products distribution agreement. The partnership grants COFCO Food Import the exclusive rights to promote, off-take and distribute PLS's Malaysian durian and durian products in China.