In a statement by Datuk Zuraida Kamaruddin, the Minister of Plantation Industries and Commodities, Malaysia is planning to increase the furniture industry’s exports by identifying key markets with high potential, such as North America, Canada and the Middle East.
According to the minister, Malaysia’s furniture export value stood at RM9.14 billion in 2019 and RM10.63 billion in 2020, while for the January-June 2021 period, the value of furniture exports was RM9.14 billion. She also stated that the ministry is looking at developing young talents in the furniture industry and improving furniture designs from Malaysia for the international market.
“The ministry is also organising programmes to assist furniture industry players in penetrating international markets such as ministerial missions to Dubai in conjunction with the World Expo Dubai and Malaysian Timber Council’s market visits to ASEAN and Oceania,” she said.
Furthermore, the ministry is planning to strengthen the legality of Malaysia’s timber industry: “To ensure the legality of Malaysian timber products are accepted not only in the European Union market but also in other markets are secure, the ministry is also in an effort to strengthen Peninsular Malaysia’s Malaysian Timber Legality Assurance System (MYTLAS) certification.”
The ministry is targeting to reach furniture export value of RM12.5 billion by year-end, an increase of 20% from 2020. In an attempt to encourage Bumiputera participation in the timber industry, Datuk Zuraida Kamaruddin also said that the ministry is also planning to improve existing business modules in order to help Bumiputeras become successful and competitive entrepreneurs: “We have a specific budget to develop Bumiputeras and this will be utilised in the best way — more cost-effective and productive — that will produce the right outcome.”
Source: Malay Mail