Matrade eyes RM10m furniture sales
Published on: Wednesday, November 25, 2015
Kuala Lumpur: The Malaysia External Trade Development Corporation (Matrade) aims for RM10 million in sales of furniture during the Specialised Marketing Mission (SMM) to Mumbai, India from Dec 1-5, 2015.Lifestyle Section Director Abu Bakar Yusof said furniture has been identified as the quick-win sector in an effort to boost Malaysian exports this year."India is one of the fastest growing markets for the furniture industry and is currently eighth worldwide in furniture consumption," he told reporters at the pre-departure briefing on the mission.
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Malaysia's exports of furniture in the first nine months of this year increased by 10.6 per cent to RM6.53 billion as compared to the same period last year, while exports to India jumped 39.4 per cent to RM242 million during the same period.Abu Bakar said Malaysia expects the furniture exports to increase by around 9-10 per cent this year from the RM8.01 billion in total exports in 2014.The furniture industry in India, including furniture hardware and furniture fittings, is estimated at more than US$8 billion while the Indian home office furniture market is worth US$1.7 billion and growing by 15 to 20 per cent every year, said Matrade.Abu Bakar said India is currently Malaysia's sixth largest export market with 3.7 per cent share of Malaysia's total furniture exports, with a lot of potential to grow especially for higher quality products.
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"Our SMM to Mumbai, besides aiming to generate potential sales, is meant to create awareness of Malaysian products as higher quality with competitive pricing," he said.Stay up-to-date by following Daily Express’s Telegram channel.
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Malaysia will be represented by 10 manufacturers and traders of home and office furniture – Intersit Industries, Dreamwood, Heavapac, Simewood, Omega Sofa, Idea Style Furniture, Goldpine International, Proficient Dynamic Europe, Comfynest and Pangkin. – Bernama
