Malaysia’s timber exports up 33-fold to RM25.2 bil under MTIB’s leadership

Malaysia’s timber exports up 33-fold to RM25.2 bil under MTIB’s leadership

DPM applauds remarkable growth resulting in 24 products last year, up from four in 1973

KUALA LUMPUR – Malaysia’s timber and timber product exports have grown by 33 times to RM25.2 billion in 2022 from RM749 million in 1973 under the leadership of the Malaysian Timber Industry Board (MTIB), said Deputy Prime Minister Datuk Seri Fadillah Yusof.

Fadillah, who is also plantation and commodities minister, said within the 50 years since MTIB’s establishment, the number of timber products exported worldwide also rose to 24 in 2022, compared with just four in 1973.

“Clearly, this sector’s contribution to the national economy is great.

“Hence, I would like to congratulate all the parties involved, especially MTIB, for their continuous hard work in driving the development and consistent growth of Malaysia’s timber industry,” he said when officiating at the MTIB Appreciation Night in conjunction with MTIB’s golden anniversary celebration here last night.

Fadillah said the timber industry has continued to grow as a result of the quality services and good cooperation between MTIB and the industry.

“It is hoped that this can be kept up to further strengthen the country’s timber industry, especially amid the uncertain global economic situation that we face today,” he added.

MTIB was established on June 1, 1973, by the Malaysian Timber Industry Board (Incorporation) Act, 1973 (Act 105).

This followed the dissolution of MTIB’s predecessor, the Malaysian Timber Export Industry Board, which was formed in 1966.

– Bernama, June 9, 2023

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