business
China Pavillion opens doors for bigger export
Transport Minister Datuk Seri Liow Tiong Lai says the China Export Pavillion marked a significant milestone for the industry with a remarkable 42% growth last year. – The Malaysian Insider file pic, March 6, 2016.The China Export Pavilion (CEP) showcased at the ongoing 12th Export Furniture Exhibition Malaysia (EFEM) 2016 helps open new business opportunities in the export sector, Transport Minister Datuk Seri Liow Tiong Lai said.
He said it marked a significant milestone for the industry as Malaysia's furniture export to China last year recorded a remarkable 42% growth.
"I believe that CEP will set an even stronger momentum for further growth moving forward as Malaysia was the first Asean country to establish diplomatic ties with China.
"Today we are proud to be China's largest trading partner in Asean," he told a press conference after launching the 12th EFEM organised by the Malaysian Furniture Council today.
Liow, who is also MCA president, said Malaysian businesses should capitalise on CEP at the four-day EFEM 2016 until Tuesday to tap into the robust furniture market and strengthen Malaysia's position in the industry.
"Currently, Malaysia exports furniture worth M8 billion a year and is the eight largest exporter of dining and bedroom sets in the world.
"In order to maintain our competitive edge, Malaysia must further develop its talent pool in order to harness the full potential of this industry," he said.
Liow said there were great economic potentials that could be seized by Malaysian businesses apart from the furniture industry and they needed to leverage on the opportunities.
Malaysia must pave the way for more economic and trade partnership beyond the furniture industry, he said.
Meanwhile, Malaysian Furniture Council president Chua Chun Chai said Malaysia's furniture export to China grew 39.2% to RM144.4 million in 2015 from RM103.7 million in 2014.
Currently, China is in the top ten for Malaysia's furniture export, he said.
He said CEP would help expand business opportunities and networking between Malaysia and China and create a win-win situation.
Malaysian Timber Council chairman Datuk Wee Jeck Seng was present. – Bernama, March 6, 2016.
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