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Malaysia International Sourcing Programme Brought Deals Worth RM42 Million

Kuala Lumpu r, Mala ysia : Malaysian furniture suppliers secured export deals worth RM42 million from world’s leading furniture buyers at the Malaysia External Trade Development Corporation’s (Matrade) International Sourcing Programme (INSP). Reported Bernama, the INSP, held at Menara MATRADE in Kuala Lumpur, Malaysia, gathered international buyers from Russia, the US, India and Nigeria.

Matrade Lifestyle Section Director Abu Bakar Yusof said the INSP for furniture was part of Matrade’s quick win measures aimed at boosting exports of Malaysian furniture products. The special programme also served as an excellent cost-effective avenue for Malaysian companies, especially small and medium enterprises (SMEs), to link up with potential trade partners and penetrate foreign markets.

“Besides generating sales and expanding Malaysia’™s export markets, the INSP was also aimed at building greater awareness of Malaysian products, which are of high quality and competitively priced,” Abu Bakar said. He said Malaysia’s furniture exports are expected to increase between nine and 10 per cent this year from RM8.01 billion in 2014.

Malaysia’s furniture exports in the first 10 months of 2015 increased 13 per cent to RM7.5 billion compared with that of last year. Exports of furniture to India in the first 10 months of this year totalled RM270 million followed by the US (RM2.31 billion), Russia (RM41.4 million) and Nigeria (RM2.5 million).

Meanwhile, 115 business meetings involving 22 Malaysian furniture manufacturers and four factory visits were held during the programme.

The buyers were interested in furniture ranging from home furniture (upholstered sofa, dining, living and bedroom furniture), outdoor furniture, and office furniture (chair, workstation, storage and filing cabinet).

Malaysian furniture companies, which took part in the business-to-business meetings, were Marcoco, Gaoya, Procasa, Sintrium, Safari Furniture, Dee Noon Corporation, Jemaramas Jaya, Simewood Product, VG Sofa, Ganiart, Hupsheng, Synergy Wood, Dynamic Furniture, VS Office Furniture, BS Furniture, Sim Hup Seng, Chinfon, and Hume Furniture.

The 10 international buyers were Home Town from Future Group (India), Pepperfry (Leading Online Retailer from India), VAVA Furniture Nig Ltd (Nigeria), Universal Furniture Ltd (Nigeria), TetChair (Russia), SXLDY Trade Ltd (Russia), Mebellier (Russia) and Kondoor Limited Company (Russia) and Ashley Furniture (US).