Malaysia timber merchants target south India for exports

Chennai:

Malaysian timber traders are looking south for business opportunities as huge infrastructure projects are lined up in southern India.

Speaking at a meeting of Malaysian Furniture and Timber Trade Mission to India with Federation of Indian Chambers of Commerce and Industry and Individual Business Meeting with Indian Buyers on Tuesday, chairman of Malaysian Timber Industry Board (MTIB) Datuk Madius Tangau said thast this is the maiden visit of the tiber trade industry and we are exploring Indian market which is growing at a rapid spree.

The delegation’s mission objective is to increase sales of Malaysian furniture and timber products to the Indian market besides trying to foster and increase business networking between Malaysian exporters and Indian importers, he said.

The delegation which began its visit to Chennai on Tuesday will also visit Bangalore and Mumbai.

Malaysia’s furniture industry is highly export oriented with over 90 per cent of its production exported. It ranks as the ninth largest exporter of furniture in the world and third in Asia after China and Vietnam.

Tangau said export of timber and timber products to India has been on an rising trend and exports rose to 13 per cent in 2010. He said logs have been the main export to India.

P Murari, advisor to FICCI president  said that Malaysia should focus on the market in south with major infrastructure projects coming up. As the demand of timber will be high due to Environment ministry clamp on cutting of trees due to depleting forest cover, Malaysian timber industry could target these states, he added