Malaysian Palm Oil manufacturing sector is facing new threats after Indian traders halted purchases over the diplomatic stand of Malaysian PM on Kashmir at UNGA. Malaysia had supported Pakistan’s stand on Kashmir.
Crux of the Matter
Malaysian PM told the U.N. General Assembly that India had “invaded and occupied” Kashmir. This statement sparked a backlash and affected in trade ties with India.
This statement took social media to a storm where #BoycottMalaysia started trending.
India being the third-biggest market for palm oil for Malaysia with a value of Rs 116 billion it is expected to face heavy repercussions.
On the contrary, Malaysia’s economic affairs minister, Azmin Ali said, “The boycott of Malaysian palm oil was likely temporary as supplies from Indonesia alone were not enough to meet demand in India. We are confident that very soon, we will be able to resolve this matter effectively.”
Curiopedia
Indian influence on Southeast Asia started around 300 BC until around the 15th century, when Hindu-Buddhist influence was absorbed by local politics. Kingdoms in the south east coast of the Indian Subcontinent had established trade, cultural and political relations with Southeast Asian kingdoms in Burma, Thailand, Indonesia, Malay Peninsula, Cambodia and Vietnam. Unlike the Hindu kingdoms within the Indian sub-continent, the Pallava kingdom of the southeastern coast of the peninsula did not have culture restrictions on crossing the sea. This led to more exchanges through the sea routes into Southeast Asia. Whereas Buddhism thrived and became the main religion in many countries of the Southeast Asia, it died off on the Indian subcontinent. The peoples of maritime Southeast Asia — present day Malaysia, Indonesia and the Philippines — are thought to have migrated southwards from southern China sometime between 2500 and 1500 BC. The influence of the civilization of the subcontinent gradually became predominant among them, and among the peoples of the Southeast Asian mainland. Southern Indian traders, adventurers, teachers and priests continued to be the dominating influence in Southeast Asia until about 1500 CE. Hinduism and Buddhism both spread to these states from India and for many centuries existed there with mutual toleration. Eventually the states of the mainland became mainly Buddhist. More Info
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