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Home  >>  Daily News  >>  Malaysia News  >>  Commodities  >>  Malaysian timber exports to rise on strong US, EU demand
NEWS UPDATES 9 March 2010

Malaysian timber exports to rise on strong US, EU demand

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Growing demand from traditional markets like the United States and Europe is boosting exports of the local timber industry, which is expected to chart an improved performance this year, the StarBiz reported.

Malaysian Timber Council (MTC) chief executive officer Cheah Kam Huan said the industry could surpass its 2008 export figure, at about 23 billion ringgit (1$=3.4 ringgit), if the export markets recovered at a faster pace.

Plantation Industries and Commodities Minister Tan Sri Bernard Dompok said the timber industry this year was expected to report better exports than last year due to better economic conditions in the countries that were buying these products.

“Malaysia exported a total of 19.4 billion ringgit worth of timber products in 2009, about 15 percent lower than 2008, while the country’s import of timber products (excluding furniture) amounted to 1.1 billion ringgit,” he told a press conference after the launch of the MTC Global WoodMart 2010 yesterday.

Dompok said the use of wood globally was increasing and the Malaysian timber industry remained an important contributor to the nation’s economy.

On the MTC Global WoodMart 2010, he said buyers and sellers at enterprise level could take the opportunity to exchange views and ideas on trade issues, given the increasing challenges of the international trading environment.

MTC Global WoodMart 2010 is organised by MTC to provide a premier one-stop selling, buying and networking platform for suppliers and buyers of timber products worldwide.

The inaugural event to be held from Oct 19 to 20 at the KL Convention Centre will showcase tropical hardwoods, as well as temperate softwoods and hardwoods.
MTC aims to attract 90 exhibitors, of whom 30 percent will be from overseas.


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