‘Export value of timber products to hit RM19bil in 2025’

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KUALA LUMPUR: The export value of downstream timber products, including furniture, is expected to hit RM19bil in 2025, accounting for 68% of the country’s total timber product exports, said Deputy Prime Minister Datuk Seri Fadillah Yusof.

“On the part of the government, our efforts towards the development of the national timber and timber products market are strengthened by the commercialisation of Made-in-Malaysia brands for the international market, particularly for high value-added products,” he said during his keynote address at the launch of the Export Furniture Exhibition 2023 here yesterday.

Fadillah, who is also the Plantation and Commodities Minister, urged the furniture industry to work closely with the Malaysian Timber Industries Board, the Malaysian Timber Council, and other government-linked agencies for the betterment of the furniture industry and its exports.“However, the pace of annual growth has plateaued in recent years due to stagnating productivity growth and increased competition from rising Asian furniture powerhouses such as China and Vietnam,” he said.

“EFE is a wonderful platform for manufacturers and potential buyers to meet and discuss business opportunities, which also increases the visibility of Malaysian-made products in the global market,” he said.

 

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