MALAYSIA'S EXPORTS OF TIMBER, TIMBER PRODUCTS TO REACH RM22 BLN

KUALA LUMPUR, July 22 (Bernama) -- Malaysia's exports of timber and timber
products are expected to reach RM22 billion (US$6.87 billion) this year from
RM19.4 billion (US$6.06 billion) in 2009 on rising demand.

For the Jan-May period, exports rose 17.4 per cent to RM8.5 billion (US$2.65
billion) compared with RM7.3 billion (US$2.28 billion) in the previous
corresponding period, Plantation Industries and Commodities Minister Bernard
Dompok said Thursday.

"The timber industry plays a significant role in the development of
resource-based industries in the country.

"It has performed relatively well over the years to the extent of achieving
an annual export value of RM23.4 billion (US$7.31 billion) in 2006," he said at
the opening of Malaysia Furniture and Furnishing Fair 2010 (MF3) here.

"For this year, we believe that exports would improve given the economic
recovery," he added.

The four-day MF3 exhibition until July 25 at Kuala Lumpur Convention Centre
is expected to generate RM50 million (US$15.62 million) in revenue. Last year's
event recorded a revenue of RM45 million (US$14.06 million).

Dompok said that within the timber industry, furniture was crucial and
played an important role, particularly in creating innovation and enhancing
value chain activities.

The furniture industry which started as a traditional and domestic
cottage-based production over 50 years ago, had subsequently progressed to be an
export-oriented sector in the 1980s with an annual export value of about RM26
million (US$8.12 million).

"The furniture industry has since developed into a technologically driven
multi-billion ringgit industry, of which products now are exported to more than
200 countries," he said.

He said Malaysia's exports of furniture were expected to grow by 20 per cent
to RM7.4 billion ((US$2.31 billion) this year from RM6.2 billion (US$1.94
billion) in 2009.

The country's major furniture markets include United States, Japan, United
Kingdom, Australia, Singapore and Canada.
-- BERNAMA


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