The Malaysian Palm Oil Board (MPOB) today officially reopened its regional office here.

Located at the Malaysian Embassy on Eyvanak Boulevard, it is set to facilitate and promote utilisation of Malaysian palm oil in Iran and other central Asian countries.

The Tehran regional office opened in 2001, and was suspended temporarily in 2008, after the United Nation's imposed sanctions on the country in 2006.

Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong in officiating the event, said it also opens up a new chapter for Malaysian palm oil in Iran and the region.

Iran offers a possible gateway for Malaysian palm oil to penetrate neighbouring countries such as Iraq, Afghanistan, Armenia, Azerbaijan and Turkmenistan.

"I strongly believe that the presence of the MPOB office and its permanent representatives in Iran, will facilitate and enhance further the technical advisory services extended to the country's oils and fats industry," said Mah.

The minister said the office will act as a one-stop centre for Iranian consumers, organisations and the media in obtaining correct information on palm oil, and handle scientific seminars, technical visits and hands-on training related to the commodity.

Mah said further economic gains could be achieved by Iran in processing palm oil-based products domestically, which also provides an opportunity for re-export to third countries or markets within the region.

"Iran, with a population of 82 million, is itself a big market. We also hope it can be a hub for the neighbouring countries.

"If we can complete the preferential or the free trade agreement, it is easier for Iran to become a centre," he added.

The hosting of the Malaysia-Iran Palm Oil Trade Fair and Seminar (POTS) 2017 in Tehran on Feb 6, offered oils and fats industry players from both countries, an opportunity to explore this possibility.

In 2016, Malaysia exported 453,172 tonnes of palm oil and palm oil products to Iran, of which 60 per cent was palm olein for cooking and industry frying purposes.

Malaysia produced 17.32 million tonnes of crude palm oil and exported 23.29 million tonnes and related products in 2016.

Mah led the Malaysian Economic and Technical Missions on Palm Oil, Timber and Rubber Products over three days to Iran from Feb 5. The team will be in India from Feb 8-9.

The delegation comprises representatives from the ministry, Malaysian Palm Oil Council, Malaysian Palm Oil Board, Malaysian Timber Council and Malaysian Rubber Board. - BERNAMA