Malaysia Furniture Export

Malaysia EXPORT

Malaysia standing among the world's top 10 wooden furniture exporting is at 15th position and 2% share of the global furniture furniture market or RM3,332.2 millions of total Malaysia export earnings from export of timber products.

Major importing of Malaysia wooden furniture is:
USA 39% for 1998

Info on Malaysia Top 10 export countries
Info on Malaysia Trade Data Enter Here

Source: New Straits Times, 2nd Feb 2000


Malaysian Import Export Customs Documentation.. Read More
Custom documentation's would consist of prescribed forms which appear in the second schedule of the Customs Regulations 1977.

These prescribed forms which are applicable for the importation and exportation of goods are goods declaration forms. The type of customs declaration form that is required by the customs department depends on the type of customs procedure applicable to the goods.


Letters of Credit Collection Procedures

1. The exporter and foreign importer agree, as part of the export sales contract, to use, a 90-day irrevocable letter of credit as the method of payment for goods exported.

2. The foreign importer requests his bank to issue a letter of credit in favor of the exporter.
# This involves a formal application to the importer's bank and payment to the bank by the foreign importer of the sum involved or, by a satisfactory credit arrangement.
# The application, once signed and thereby accepted by the importer's bank, becomes a contract by which the importer agrees to reimburse his bank for all sums expended under the letter of credit.

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