The Timber Exporters’ Association Malaysia inked a Memorandum of Understanding with the Sharjah Ports Authority in the United Arab Emirates which will help enhance economic and trade partnerships between the timber industry in Malaysia and the UAE through logistics services.
Held in conjunction with the Sustainable Agri-commodity Week at Expo 2020 Dubai, the MoU will encourage Malaysian timber companies to capitalise on Sharjah Ports’ sought-after logistics services as well as its strategic location in the Middle East, a market that is growing exponentially.
“We are very excited about this opportunity to collaborate with Sharjah Ports Authority. We believe this MoU will further drive demand and new trade opportunities for timber and timber-based products into the Middle East region through the UAE,” said a representative of TEAM.
Malaysian timber exporters are said to benefit from Sharjah Ports’ business-friendly environment, infrastructure, tax exemptions, special incentive provisions, and more.
From January to November 2021, Malaysia’s export value of timber and timber products to UAE totalled RM310.95 million, an increase of 5.8% compared to the same period in 2020.
“The MoU reflects the Malaysian timber industry’s commitment in driving cooperation and trade enhancement with the leading port authority. It is an opportunity to develop long-term growth strategies to expand businesses given UAE’s unique position as a gateway to other markets in the region,” added Malaysian Timber Councils Director of International Business Development Division – Cluster 2 (Middle East, Africa & South Asia) Mr. Khairul Anwar.
Meanwhile, TEAM President, Mr. Chua Song Fong said this tie-up will be a new growth driver for Malaysian timber exporters to stimulate recovery from the effects of the COVID-19 pandemic. He hopes that this strategic cooperation will further develop the export of timber and timber-based products into the region.
Witnessing the eventful occasion was Minister of Plantation Industries and Commodities YB Datuk Hajah Zuraida Kamaruddin and top official from Malaysian Timber Council.