New Straits Times

MAJOR BOOST FOR TIMBER SECTOR?

Timber industry players will gain access to wider market, says MTC

- AMIR HISYAM RASID KUALA LUMPUR bt@mediaprima.com.my

THE Regional Comprehens­ive Economic Partnershi­p (RCEP), which is expected to be sealed by February, has plenty of opportunit­ies for Malaysia’s century-old timber industry, said Malaysian Timber Council (MTC) chief executive officer Richard Yu.

Malaysia is currently the world’s 11th-biggest timber exporter.

Yu said the RCEP had a combined population of 3.4 billion people and total gross domestic product (GDP) of US$49.5 trillion (RM205.12 billion), or about 39 per cent of the world’s GDP.

“We can share the hope that all will go well with RCEP. The industry is ready for this economic integratio­n, especially when opportunit­ies are plentiful.

“Our century-old industry has withstood a lot of economic challenges but RCEP will open up a wider market.

“As a result of the trade between United States and China, the world’s two biggest economies, businesses may shift their operations to Asia. Therefore, we will see a lot of opportunit­ies.”

He said MTC would work with industry players to expand their market reach once RCEP comes into force.

It would provide them with market informatio­n and assist them in the decision-making process, he added.

Meanwhile, MTC is looking to generate RM25 million in sales during its inaugural Malaysia Wood Expo wood and woodworkin­g machinery trade fair.

The three-day event will be held at the Putra World Trade Centre on Nov 19-21.

MTC market promotion director Alexis Chang said RM20 million would be derived from machinery sales and the remaining from sales of raw materials.

She said the expo aimed to bring together internatio­nal timber industry players and create networking opportunit­ies.

More than 1,000 visitors and buyers from 47 countries are expected to participat­e in the event.

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Richard Yu

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