Malaysia's Timber & Timber Product Exports To Rise This Year

KUALA LUMPUR, March 6 (Bernama) -- Malaysia's exports of timber and timber products in 2012 is expected to be better than last year, Malaysian Plantation Industries and Commodities Minister, Bernard Dompok said Tuesday. He said Malaysia exported timber and timber products valued at RM19.8 billion (US$6.54 billion) last year and furniture products accounted for RM6.46 billion (US$2.13 billion) or 32.6 per cent of total exports. "Traditionally, the United States is a top importer of Malaysian furniture. However, in recent years, there has been a notable rise in demand for Malaysian furniture from non-traditional regions like Russia, the Middle East and other Asian countries as Thailand and India," Dompok said at the opening of the five-day 18th Malaysian International Furniture Fair (MIFF) 2012 which began here. He said that previously, the domestic industry had thrived on mass manufacturing. "But, it is now time to move on to medium and high-end markets. It is no longer sustainable for us to compete against developing economies, which have cheaper resources and labour. "I am optimistic that the aggregation of efforts by the industry and the government will contribute towards achieving the target of RM16 billion in furniture exports by 2020," he added. To sustain timber supply, he said, the government had earmarked large scale forest plantations, with 375,000 hectares to be planted over a 15-year period with an allocation of RM1 billion (US$330 million). He said the plantation project began four years ago and includes rubber wood, which is the most sought after timber species by furniture makers. (US$1 = RM3.02) -- BERNAMA