Malaysian Furniture Suppliers Secure Export Deals From World's Leading Furniture Buyers at INSP (18 December 2015)
MALAYSIAN FURNITURE SUPPLIERS SECURE EXPORT DEALS FROM WORLD’S LEADING FURNITURE BUYERS AT INSP
THURSDAY, DECEMBER 17, 2015, KUALA LUMPUR: Malaysian furniture manufacturers participating in Malaysia External Trade Development Corporation’s (MATRADE) International Sourcing Programme (INSP) for furniture reaped RM42 million in export sales recently. The INSP was held in Menara MATRADE and involved international buyers from Russia, United States (US), India and Nigeria.
MATRADE’s Lifestyle Section Director Mr. Abu Bakar Yusof said the INSP for Furniture was part of MATRADE’s quick win measures aimed at boosting exports of Malaysian furniture products to various markets. The special programme also served as an excellent cost-effective avenue for Malaysian companies, especially SMEs, to network with potential trade partners and to penetrate into foreign markets.
A total of 115 business meetings with 22 Malaysian furniture producers and four factory visits to furniture manufacturers were held during the programme. The buyers to source for Malaysian furniture ranging from home furniture (upholstered sofa, dining, living and bedroom furniture), outdoor furniture and office furniture (chair, workstation, storage and filing cabinet).
Among the Malaysian furniture companies involved in the B2B 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, among many others.
"The INSP for furniture programme, besides its objective of generating sales and expanding Malaysia’s export markets, was also organised to build greater awareness of Malaysian products, which are high in quality and competitively priced," Abu Bakar said.
The 10 international buyers participating in the event 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).
Malaysia’s exports of furniture in the first 10 months of 2015 registered a 13 per cent increase to reach RM7.5 billion as compared to last year’s performance. Exports of furniture to India in the first 10 months totalled RM270 million, US RM2.31 billion, Russia RM41.4 million and Nigeria RM2.5 million.
Abu Bakar mentioned that Malaysia’s furniture exports are expected to increase between 9 to 10 per cent this year from the RM8.01 billion in total exports registered in 2014.
