The Malaysian Timber Council will open a new overseas office in Bangalore, India, to boost marketing efforts in sub-continental countries including Pakistan, Sri Lanka and Bangladesh.
“India holds huge promise as it is ranked as one of the top three most attractive investment destinations in the world. Its growing middle class and demand for timber as well as timber-based products have prompted MTC to open a regional office in India this year,” said MTC Chief Executive Officer, Datuk Dr Abdul Rahim Nik.
India was Malaysia’s third largest timber trading partner after Japan and the United States in 2015, buying RM1.9 billion worth of wood products, a 6.3% increase compared to 2014.
When Myanmar introduced the log export ban in 2014 Indian buyers turned to Malaysia for logs and sawn wood.
The office is expected to start as early as January next year. It is the fourth after the United Kingdom, Dubai and China.