Monday, 28 August 2017

The Ministry of Plantation Industries and Commodities (MPIC) has revised the country’s wood-based exports from RM53 billion to between RM25 and RM30 billion by 2020.

Minister Datuk Seri Mah Siew Keong said the revision is made due to shortage of raw material supplies, as well as skilled and unskilled workers.

As at June 2017, Mah said total export for this segment stands at RM11.5 billion, which is a 5.2% jump year-on-year (YoY) compared to the same period a year ago. In 2016, total exports stood at RM22 billion, which is a key contributor to the national economy.

In 2009, the MPIC had projected that the wood-based exports will hit RM53 billion by 2020.

Mah said it is crucial for the government and all relevant stakeholders to overcome the shortage of labours and supply of raw materials through the adoption of e-commerce.

“The MPIC is working hard to incorporate approximately 200 companies operating within this segment to embrace e-commerce and digitalisation, as it is critical for the upstream and downstream sector.

“Together with Malaysia External Trade Development Corp, we want to ensure that timber-based companies will further take part in the e-commerce ecosystem, supported by the Digital Free Trade Zone that is expected to dominate the digital economy really soon,” Mah said at the National Timber Industry Policy (NATIP) 2017 closing ceremony in Kuala Lumpur last week.

“Also, we want to prioritise timber-based products’ export in countries that are a part of the free trade agreement, that would provide special incentives to elevate our export growth,” Mah added.

Read full article at The Malaysian Reserve