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Malaysia's Exports Of Timber, Timber Products To Reach RM22 Bln

Malaysia's exports of timber and timber products are expected to reach RM22 billion this year from RM19.4 billion in 2009 on rising demand.

For the Jan-May period, exports rose 17.4 per cent to RM8.5 billion compared with RM7.3 billion in the previous corresponding period, Plantation Industries and Commodities Minister Tan Sri Bernard Dompok said on 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 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 in revenue. Last year's event recorded a revenue of RM45 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.

"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 this year from RM6.2 billion in 2009.

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

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