KUCHING, July 17: The Sarawak Timber Industry Development Corporation (STIDC) participated in the ‘High-Level Dialogue on Association of Southeast Asian Nations (Asean)-Italy Economic Relations’, which was held in Kuala Lumpur from July 5 to 6 to explore business collaborations.
According to a press release, 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).
It mentioned that STIDC general manager Datu Hashim Bojet stated that during the business-to-business (B2B) meetings, there were overwhelming trade enquiries to explore business opportunities in Sarawak’s wood-based and non-wood-based sectors.
“This strategic initiative is aligned with the Forestry and Timber Industry Master Plan 2020-2030 and the State Post Covid-19 Development Strategy (PCDS) 2030 to ensure resilience and generate RM8 billion in wood-based sector export earnings by 2030,” he added.
As per the press release, 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 designated as Asean’s development partner.
“Italy is Malaysia’s third largest global trading partner among the European Union member countries.
“Malaysians generally perceived the Italian investments as creating quality jobs for the locals,” it said.
In addition, based on the press release, 75 manufacturing projects with Italian participation were implemented in Malaysia last year, creating 4,320 job opportunities for locals with a total value of USD363.8 million.
It went on to say that various topics were discussed during the dialogue, including Asean’s post-pandemic macroeconomic outlook; green technologies for a sustainable future; e-Economy, smart technologies and 4.0 value chains; aerospace and security for resilience; and investment opportunities and cooperation tools between Italy and Asean countries. — DayakDaily
