Malaysia and Vietnam Timber and Timber-Based Industries Sign Memorandum of Cooperation
A Memorandum of Cooperation (MoC) was signed today (6-15-22) between the timber and timber-based industries in Malaysia and Vietnam. The MoC is intended to help to further develop the timber trades in both countries.
The MoC is in line with the Asean Summit agreement of 2000 where the Initiative for Asean Integration was launched to narrow the development divide and enhance Asean’s competitiveness as a region.
In 2021, Malaysia’s export of timber products to Vietnam totaled US$38.44 million (US$1=RM4.41), while imports from Vietnam comprised of wood-based products totaled US$148.25 million.
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