KUALA LUMPUR: Malaysia's timber industry is set to further benefit from exports, thanks to a new partnership with China.
A memorandum of understanding for higher cooperation between the two countries was signed by Malaysian Wood Industries Association (MWIA), Timber Exporters Association Malaysia (TEAM), and Guangdong Timber Industry Association.
MWIA president Datuk Low Kian Chuan said this was the first time that such a strategic alliance was formed with China.
"It will provide opportunities for Malaysian timber manufacturers to enter lasting trade relations with importers from Guangdong.
"Among the initiatives covered in the memorandum are to promote Malaysian timber and timber products to China and to develop unified specifications to comply with trade requirements in Guangdong," he said.
Malaysia's export value of timber to China was RM787mil last year, and this is estimated to increase by 6% annually.
TEAM president George Tan said the memorandum was aimed at streamlining Malaysian timber manufacturers so the products can be marketed at specific rates.
"It will also help smaller scale businesses to market their products on an international level, as China is a very big market," he said.
Among those who witnessed the memorandum signing were Malaysia's special envoy to China Tan Sri Ong Ka Ting and Guangdong governor Zhu Xiaodan.
Limited time offer:
Just RM5 per month.
