Britain Should Break With Europe on Palm Oil
The U.K. can expect better trade terms with Southeast Asia if it asserts its independence post-Brexit.
The EU ban would punish Malaysian workers.
Photographer: Taylor Weidman/BloombergPost-Brexit, the U.K. will have a historic opportunity to strike a trade deal with one of the world’s fastest-growing regions and prove that it can shed European red tape and protectionism. The key is to rethink the European Union’s policy on palm oil.
In 2017, the European Parliament approved a resolution to phase out and eventually ban biofuels made from palm oil, a major export for Malaysia and Indonesia. Earlier this year, the European Commission limited the types of biofuels from palm oil that can be counted toward Europe’s renewable-energy goals. The restrictions could trigger a trade war with producer nations.