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Malaysia's Commodity Exports Expected To Recover This Year

(Create time:2010-2-1 Hits: Source: )

FROM bernama.com:PETALING JAYA, Jan 28 (Bernama) -- Malaysias commodity exports are expected to recover this year, aided by the recovery of major economies and improving demand from major buyers like the United States and Europe.

Plantation Industries and Commodities Minister Tan Sri Bernard Dompok, in stating this today, said exports of commodities and commodity-based products fell to almost RM90 billion last year due to the global financial crisis from RM112 billion in 2008.

He said as a result of the continued low demand in 2009, the export of timber products is expected to be valued at RM19.8 billion as against RM22.8 billion for both 2008 and 2007.

The minister was speaking after the launch of the "Guidebook on On-site Identification of Some Common Timbers Used in Malysia" and seminar.

According to Dompok, the timber industry is now facing many challenges, ranging from rising operation costs to shrinking export market.

He said the ministry, in its continuing efforts to promote the proper use of timber resources, had developed a guidebook on on-site identification of some common timbers used in Malaysia.

"It contains information on how to identify some timbers used in Malaysia, including both local and imported timbers," he added.

Malaysian Timber Councils chief executive officer Cheah Kam Huan said the countrys natural forests contained a large mix of species, ranging between 2,500 and 3,000 tree species.

"There are trees that have yet to be discovered and described. Such a wide variety of trees gives rise to a wide range of timbers," Cheah said during the guidebook launch.

To promote Malaysian timber and commodity products, Dompok said his ministry was plannning overseas missions to Russia, China, North Africa and India.

He said that to promote Malaysian timber to the European market, discussions were ongoing with the European Union for the voluntary partnership agreement to help the industry in producing legal and sustainable timber.



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