STIDC explores business with Italy, Asean
By:News Desk

KUCHING: Sarawak Timber Industry Development Corporation (STIDC) officials explored business collaborations with Italian and ASEAN counterparts recently.

The ASEAN-Italy Economic Relations Dialogue was held in Kuala Lumpur on July 5-6.

In a press statement, STIDC stated that the dialogue was jointly organised by The European House – Ambrosetti and Associazione Italia – ASEAN, Malaysian Investment Development Authority (MIDA) and the Italian Trade Agency (ITA).

STIDC general manager, Datuk Hashim Bojet, stated that there were overwhelming enquiries to explore business opportunities in the wood-based and non-wood-based sectors of Sarawak.

“This strategic initiative augurs well with the Forestry and Timber Industry Master Plan 2020-2030 and the State Post COVID-19 Development Strategy (PCDS) 2030 to ensure resilience and to generate RM8 billion in export earnings from the wood-based sector by 2030,” he said.

ASEAN member countries represent the fifth largest economy in the world and are poised to become the fourth largest by 2030.

Italy and ASEAN member countries benefit from a partnership formalised in 2020 when Italy was given the status of development partner of ASEAN.

“Last year 75 manufacturing projects with Italian participation were implemented across Malaysia and those projects created 4,320 job opportunities for locals with a total value of  USD363.8 million.

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