MATRADE Urges Local Companies To Venture Into UK's Green Industries

KUALA LUMPUR, March 29 (Bernama) -- Malaysian manufacturers should take advantage of business opportunities available in the United Kingdom's (UK) thriving RM329 billion (US$107.1 billion) sustainable green packaging industry. In a statement on Thursday, the Malaysia External Trade Development Corp (MATRADE) said the industry is predicted to register consistent growth over the next decade, mainly influenced by rising environmental concerns. The close bilateral ties between Malaysia and the UK has bolstered confidence in the industry’s long term outlook, which is propelling ahead with high quality and cutting-edge packaging solutions. Meanwhile, the UK’s construction industry, which uses more than 400 million tonnes of material yearly, was valued at RM515 billion (US$167.62 billion) in 2010. Green building materials account for an estimated 40 per cent of the construction industry's value, which translates into an estimated RM206 billion (US$67.0 billion). Malaysian manufacturers have the opportunity to supply all types of building materials, particularly timber, timber based products, wooden doors, door frames, decking, flooring, bath and sanitary products. MATRADE will also provide assistance in determining the necessary environmental, health and safety regulations as required, to local companies in exporting products to the UK. "The UK building trade is increasingly looking for packaged products that can be delivered on-site and ready for rapid installation to reduce labour costs and increase speed in construction," it added. --BERNAMA