JUST IN

Bright prospects for timber industry

by | Mar 9, 2023 | Business, Local, National, News | 0 comments

Based on forecasts of the National Agricommodity Policy 2021 to 2030 the export value of downstream timber products, including furniture, is expected to reach RM19 billion in 2025, accounting for 68 percent of total timber product exports.

The efforts of the government towards the development of the national timber and timber products market has been strengthened by the commercialization of Made in Malaysia brands for the international market.

Malaysia exports high value added products that include wooden furniture to 160 countries and the main markets are the United States, Japan, Singapore, Australia, the United Kingdom and the Middle East region.

Last year wooden furniture exports were valued at RM11.14 billion and to maintain business the furniture industry would require a production reexamination and reinventing to boost skilled expertise locally.

Other strategies that need to be adopted include Industry Revolution (4.0) technologies and increasing product quality and standardisation while there need to be deep dives into the needs of specific markets.

The government is urging the furniture industry to work closely with the Malaysian Timber Industries Board, the Malaysian Timber Council and other government linked agencies to boost the furniture industry.

-THE MALAYSIA VOICE

IMAGE-FOR-ILLUSTRATION.jpg

JUST IN 

SEARCH 

ADVERTISEMENT 

OUR CATEGORIES