Plantation and commodities minister Johari Ghani said the industry’s performance has declined over the past two years, but the government is committed to supporting its sustainability and growth.

“For 2024, we are quite confident that furniture exports will rebound to their former strength,” he said after officiating the Malaysia International Furniture Fair (MIFF) 2024 in Kuala Lumpur today, Bernama reported.

Earlier, in his speech, Johari said the timber and furniture industry was not insulated from the effects of global headwinds, with the exports of timber and timber products falling by 13.2% to RM21.9 billion in 2022, and furniture exports dropping by 18.1% to RM9.1 billion last year.

“This is largely due to a weakening in housing demand in the US, the biggest buyer of Malaysian furniture, accounting for over half of furniture exports,” he said.

The Malaysian furniture industry is largely export-oriented, with 44% of timber exports being shipped to 186 countries over the past five years.

Separately, Johari said the government has spent almost RM1 billion for the Forest Plantation Development Programme (FPDP) and provided soft loans to 88 companies for replanting projects.

“This is for reforestation efforts involving 142,000ha, including 75,000ha in the peninsula, 37,000ha in Sabah and 35,000ha in Sarawak. This development is ongoing and is expected to yield results in the next seven to 15 years,” he said.

He said the government will persist in ensuring that industry players can adhere to international standards, particularly in light of global concerns regarding deforestation.

“The furniture industry must continue to work closely with the ministry and its agencies, such as the Malaysian Timber Industry Board, the Malaysian Timber Council and the Malaysian Timber Certification Council.

“This collaboration aims to streamline the environmental, social, and governance (ESG) framework in the industry, harmonising conservation and industrialisation,” he said.