Govt targets wood product exports to hit RM19b by 2025 - MIDA | Malaysian Investment Development Authority
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Govt targets wood product exports to hit RM19b by 2025

Govt targets wood product exports to hit RM19b by 2025

09 Apr 2022

The government is targeting the export value of wood-based products, including wooden furniture, to reach RM19 billion by 2025 under the National Agricommodity Policy (DAKN) 2021-2030.

Plantation Industries and Commodities Minister Datuk Zuraida Kamaruddin said the wooden furniture industry, therefore, has positive growth potential this year with rising demand from key markets in line with the country’s transition to the endemic phase.

“Malaysia, the world’s 10th biggest exporter of furniture and furniture components, recorded an export value of RM10.41 billion last year with five main export destinations, including the United States, Japan, Singapore, the United Kingdom and Australia.

“Hence the ministry will grow the country’s commodity market, including the timber sector, and has held the Agricommodity Tour Series at the international level including in the United Arab Emirates, Saudi Arabia, India, and Turkey,” she told a media conference after an engagement session held with the Malaysian Furniture Council (MFC) here today.

Zuraida noted that her ministry will also organise the Malaysia International Agricommodity Expo and Summit (MiACES) from July 26 to 28, 2022, at the Malaysia International Trade and Exhibition Centre, Kuala Lumpur,

Elaborating on the session with MFC today, Zuraida said the ministry will look into the delivery charges which are said to be quite high for local furniture exports, to the extent of burdening business operators and other industry players.

She said it will study the reason for the higher shipping charges for the country compared to China, which have led to exports of local furniture being delayed as the industry players could not afford to pay.

MFC, which has 750 members, also raised the foreign worker recruitment issue, Zuraida said, adding that it was explained that a committee to expedite foreign worker approval applications has been set up this week to enable the faster hiring of these workers.

“The committee will begin meeting next week. The ministry will do a follow-up to see how to expedite the recruitment of foreign workers by the furniture industry,” she added. 

Source: Bernama