Govt targets wood product exports to hit RM19 bln by 2025

BANTING: 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 with the Malaysian Furniture Council (MFC) here yesterday.

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 yesterday, 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.