(MENAFN - Kuwait News Agency (KUNA)) The Malaysian Timber Industry Board is targeting Arabian Gulf and the Middle East companies to expand its wood products exports following the announcement of the Ministry of Commodities and Plantation Industries to raise these exports by five percent this year.
The head of the board told the Kuwait News Agency (KUNA) on Monday, that the timber companies in Malaysia have launched extensive campaigns in the Middle East and the Arab Gulf states to promote their products, especially wooden furniture, decorations and raw wood materials.
He added that Gulf countries import most of wooden products from Italy and Germany known for their high quality, calling on them to head east, mainly Malaysia, whose timber products match the quality of their European counterparts.
He said that the Malaysia's timber industry contributes significantly to the country's gross domestic product, with exports estimated at MYR 20.03 billion (USD one is equivalent to about three ringgits) last year, pointing out that the government projected a five-percent increase this year due to the positive growth during the first half of the year.
He noted that the global economic crisis had a negative impact on the international timber market, mainly on the United States of America, Europe and China who are considered key players in this industry.
He said that despite the drop in the international timber market, the Malaysian wooden furniture exports rose 12 percent in the first half of this year due to high demand from the United States, the major importer of Malaysian timber products for the past 10 years.
Malaysia pins great attention to developing the timber industry by passing laws on environment protection and preserving trees.