Feb 12, 2009. /Lesprom Network/. Malaysian government will launch a new National Wood Industry Policy on February 17 at the Putrajaya International Convention Centre, AsiaPulse reported. The policy will focus on downstream activities and consists of action plans and directions for the timber industry up to 2020, said Plantation Industries and Commodities Minister Datuk Peter Chin Fah Kui. “We need a comprehensive national wood policy that covers the upstream and downstream industries as well as exports,” he told said. With the new policy, Chin said the Government hoped to achieve timber exports worth RM 53 billion ($14.7 billion) by 2020 from RM 22 billion ($6.1 billion) currently. “Our estimate targets was 60% (of exports) from downstream activities worth RM 31.8 billion ($8.8 billion) and 40% from upstream activities worth RM 21.1 billion ($5.9 billion),” he said. “We want to go further downstream and fully utilise our raw materials to avoid wastages,” Chin said, adding that wasteful practices by wood processing factories would be monitored under the new policy. On the outlook of the timber industry, Chin said there were already signs that timber importing markets such as Europe and Japan would lessen the use of wood, especially for housing. The prices of primary timber products, such as sawn logs, fibre boards and plywood, have slumped by 30% to 40% since the 4Q 2008, according to Chin.