The Malaysian Government has targeted 53 billion RM (more than 16 billion USD) in timber exports by 2020, with the furniture sector contributing 16 billion RM in export value, according to Plantation Industries and Commodities Minister Douglas Uggah Embas.

Local media quoted the minister as saying that the world’s market for household items such as doors and wood-based products is on an ever-increasing trajectory, with global population growth fuelling the need for housing.

By 2025, it’s estimated that the global population will reach eight billion, while China , India , Indonesia , Brazil and the US will remain as the top five most populous countries, he added.

China and India , which together accounted for 35 percent of the global population, offers huge potentials in terms of market and demand for value-added products with rising incomes, he said, urging Malaysian manufacturers to continue to take measures to strengthen their markets in these two countries.

Malaysia ’s timber export performance has doubled to 20.2 billion RM in 2012 versus 10.5 billion RM in 1992.-VNA