Exports to China seen increasing

KUALA LUMPUR: Malaysia’s export of timber products to China is expected to increase this year as the republic’s demand for Malaysian goods has been growing steadily year on year.

The Malaysian Timber Council (MTC) chairman Datuk Gooi Hoe Hin said China, being the second-largest economy in the world, was playing an increasingly important role in the global economy.

“The trade and investment relationship between China and Malaysia have demonstrated a healthy growth over the years, and it is a vital relationship to maintain as China was Malaysia’s eighth largest importer of timber and timber products in 2016,” he said yesterday.

The two countries have enjoyed healthy trade ties and the aim of achieving US$160 billion (RM668.8 billion) in bilateral ties by this year has further magnified all business endeavours.

China is the eighth largest market for Malaysian timber and timber products.

Last year, timber and timber products exported to China were valued at RM846.8 million, which was a 3.7 per cent increase from the previous year.

Furniture remains the main export of timber products to China in value terms, amounting to RM121.7 million, which marks a 91 per cent increase from the previous year. This year, the exhibition will be held from Tuesday to Friday at the Shanghai New International Expo Centre in Pudong, Shanghai.