Despite the sluggish global economy, the Malaysia Timber Council (MTC) had managed to meet the sales target that was set. However, there is no denying that the slowdown economy was felt.
“We are not immune to the current economic climate but staying focused on market trends and meeting its needs have always been our goal,” said MTC Chief Executive Officer Datuk Dr Abdul Rahim Nik.
At the annual China International Furniture Expo or Furniture China, MTC had set a sales target of RM40 million for the 18 Malaysian furniture manufacturers who exhibited at what is deemed as the third largest furniture fair in the world. The manufacturers raked in confirmed and potential sales of RM40.03 million at the trade fair which was held at the Shanghai New International Expo Centre in Pudong, Shanghai, China, from 8 to 11 September 2016. The Council’s Malaysua Pavilion recorded potential and confirmed sales worth RM36.05 million last year.
Abdul Rahim added that MTC had intensified its publicity efforts in Shanghai to draw more visitors to MTC’s Pavilion at the expo to help the manufacturers where six of the 18 were exhibiting for the first time with MTC. The first-timers secured 39% of the sales or RM15.60 million.
Since last year, MTC had begun organising group participations to enable Malaysian furniture manufacturers to collectively display their products at Furniture China. Malaysia and China have always enjoyed healthy trade ties and the pledge of achieving US$160 billion in bilateral trade by 2017 has further magnified efforts from the business sectors of both nations.
China has been in the top 10 of the major export market for Malaysia in the last five years. In 2015, Malaysia’s total export of timber and timber products, including furniture to China was RM1.9 billion or 3.7% of the export pie