Wood-Based Product Exports Likely To Exceed USD 5.5 Bln
KUALA LUMPUR, April 2 (Bernama) -- Malaysia's wood-based industry is expected to achieve an export value of over RM20 billion this year despite the global economic slowdown.
In stating this, Deputy Plantation Industries and Commodities Minister Senator A. Kohilan said a rise in demand for wood-based products from Central Asia and new markets like Eastern Europe and India was expected to push up exports.
Currently, Malaysia was exporting wood-based products to almost 150 countries, including the United States, Japan and Europe, he told reporters after officiating the Annual Timber Research and Industry Briefing here today.
He said that by coming out with quality wood-based products, Malaysia was able to compete and expand its exports.
Last year, the export value of wood-based products amounted to USD 6.26 billion from USD 6.29 billion in 2007.
Kohilan said the government has stepped up efforts to find alternative raw material supply for the wood processing sector due to the continuing growth of the industry.
The government, he said, has also launched the reafforestation programme, being managed by the Malaysian Timber Industry Board, to reduce the shortage of supply for the industry.
Through the programme, the government has targeted for 25,000 hectares to be afforested annually, covering 375,000 hectares within a 15-year period, Kohilan said.
He said to date, 14 companies have participated in the programme, with almost 60,000 hectares having been afforested.
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