He said the timber industry was the third-largest export contributor for agricommodity products after palm oil (RM114.4 billion) and rubber (RM33.7 billion).

Johari said the export destinations of local timber products include the US, Europe, and Asia. However, he added that Bumiputera participation in the timber industry is still low.

“Despite an increase compared to 2023, Bumiputera entrepreneurs still contribute less than 1% or RM44 million of the total export of timber and timber products.

“Most Bumiputera entrepreneurs are still in the small or micro enterprise category,” he said at the Bumiputera Empowerment in the Timber Industry Symposium here today.

Speaking to reporters after the event, he said Bumiputera companies in the local timber industry need to collaborate with non-Bumiputera companies to expand their market share and strengthen their competitiveness.

He emphasised the importance of creating an ecosystem that can help Bumiputera companies compete, especially through a strong supply chain network.

“They (Bumiputera companies) need to collaborate with successful non-Bumiputera companies in our country because they have the supply chain. Many designs and ideas from these Bumiputera companies cannot be realised if we don’t have a supply chain.

“We cannot work in isolation in this business world; business is universal,” he said.