JAKARTA — Indonesia is looking to carve out new markets for its furniture and wooden goods as one of its top buyers, the European Union, is gearing up to implement a new rule to help preserve the world’s forests.

The EU Deforestation Regulation (EUDR) requires importers of commodities such as palm oil, coffee and cocoa to generate a due diligence statement proving their products do not come from deforested land or have not led to forest degradation. Traders and other organizations selling products in the EU will have until late 2024 to comply with the EUDR. Micro and small enterprises, however, are exempt from the due diligence until mid-2025.