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BUSINESS • 25/11/2024 07:42 PM

MPIC Confident About Hitting Timber Industry Export Target Of RM28 Bln By 2025

KUALA LUMPUR, Nov 25 (Bernama) -- The Ministry of Plantation and Commodities (MPIC) is confident of achieving its target of RM28 billion in export value for timber and timber products by 2025, as outlined under the National Agricommodity Policy 2030.

Deputy Minister Datuk Chan Foong Hin attributed this optimism to strategic initiatives, rising global demand, and close collaboration between the ministry and industry players to boost the competitiveness of Malaysian timber products through innovation, sustainability certifications, and market diversification.

“So far in 2024, timber exports have shown positive growth, increasing by 8.9 per cent to RM15.2 billion for January to August, compared to RM14.01 billion in the same period in 2023,” he told reporters after the launch of the Malaysian Wood Expo (MWE) 2025 here today.

He said the growth reaffirmed Malaysia’s status as a leading player in the global timber market, with wooden furniture being the nation’s largest export product in the timber sector.

“Basically, this shows that Malaysian timber products have a lot of potential to grow further,” he added.

Organised by the Malaysian Timber Council (MTC), the expo is set to take place from Nov 10-12, 2025, at Malaysia International Trade and Exhibition Centre, Kuala Lumpur.

Commenting on the target sales for MWE 2025, Chan said it will be around RM150 million to RM200 million.

“For the past two editions, MWE generated an impressive sales revenue of RM125.03 million in 2019 and RM195.75 million in 2023, underscoring the expo’s significant role as a vital platform for business opportunities.

“We anticipate an increase in sales, and even with a conservative target, achieving double-digit growth should not be an issue,” he added.

Earlier in his speech at the launch, MPIC Minister Datuk Seri Johari Abdul Ghani said MWE is poised to be a key platform to showcase Malaysian craftsmanship and quality that is already recognised worldwide.

“Hosting the expo in 2025 is also opportune as it will coincide with Malaysia's chairmanship of ASEAN, allowing MWE to take a more prominent role to link timber-based businesses in ASEAN and foster innovation as well as collaboration,” he said.

Johari, whose speech was read by Chan, also said Malaysia is deeply committed to the global sustainability agenda, pledging to maintain at least 50 per cent of its land under forest cover.

As of October 2024, 40 Forest Management Units covering a total area of 6.52 milion hectares were certified under the Malaysian Timber Certification Scheme (MTCS) while 370 timber companies received the Chain of Custody certificate, allowing them to display the Programme for the Endorsement of Forest Certification logo on MTCS-certified timber exports, said the minister.

Among those present at today’sevent were Malaysia Timber Industry Board chairman Datuk Larry Sng, MTC chairman Zainal Abidin Abdullah, and MTC chief executive officer Noraihan Abdul Rahman.

-- BERNAMA

 

 

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