ID :
127372
Fri, 06/11/2010 - 17:27
Auther :

MTIB CONFIDENT US$16 BLN TIMBER EXPORT TARGET ACHIEVABLE BY 2020




KUALA LUMPUR, June 11 (Bernama) -- The Malaysian Timber Industry Board
(MTIB) is confident Malaysia will be able to export RM53 billion (US$16.1
billion) worth of timber and timber products by 2020 provided the current sales
momentum continues.

Plantation Industries and Commodities Deputy Minister Hamzah Zainudin
said the timber industry has been identified to assist in improving the country
Gross Domestic Product (GDP) which has been targetted to grow by 6.4 per cent,
anually.

He said the industry was now on the road to recovery, after two years of
recession, judging from timber exports which rose 21.52 per cent to RM6.917
billion (US$2.096 billion) in the first four months of this year.

"I am confident revenue from timber exports will increase more than the 30
per cent we had forecast for this year as exports between January and April had
already surpassed 20 per cent," he said in his speech at MTIB's Excellence Day
celebration here Friday.

Speaking to reporters later on the target set under the 10th Malaysia Plan
(10MP) for the palm oil industry, Hamzah said he was optimistic the industry
would be able to increase output to GDP as envisaged under the plan based on the
industry's sterling performance over the years.

Under the 10MP, the palm oil industry is forecast to increase its output to
GDP to RM21.9 billion (US$6.63 billion) with export earnings of RM69.3 billion
(US$21 billion).

To achieve this target, the government has earmarked several initiatives
which includes promoting Malaysia as a global hub for palm oil, developing palm
oil industrial clusters, encouraging good agricultural practices and
centralising procurement of agricultural inputs to lower cost to smallholders.
-- BERNAMA



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