The Malaysian Timber Council has signed a Memorandum of Understanding with the Thai Hevea Wood Association and the Wood Processing Industry Club with the aim to promote the development of the Malaysian and Thailand timber trade as well as establish timber trade standardisation between the two countries.
MTC CEO Mr. Muhtar said this partnership with the Thai counterparts was timely as the economy emerged from the COVID-19 pandemic. “While we are on the path of economic recovery, we need to undertake all necessary efforts in ensuring rapid and sustainable economic growth between both countries,” he said in his welcoming address.
In 2021, Malaysia was one of the Top 5 major timber export destinations for Thailand’s major timber products, especially for sawn timber. Malaysia was the largest export country for Thailand’s sawn timber which amounted to USD44.3 million. Thailand also exported USD7.8 million worth of wooden furniture and USD10 million worth of plywood to Malaysia in 2021.
Sourcing and augmenting raw material supply for local timber-based manufacturers is one of MTC’s top priorities and Thailand’s rubberwood is much sought-after. MTC started reaching out to its trade partners within ASEAN to revive business and trade relationships that were halted due to the COVID-19 pandemic. This year alone, MTC visited Singapore in March, Thailand in April, Vietnam in June, Indonesia in July and is scheduled for a visit to The Philippines in November.
