Export of Value-added Products: Wood-based Industry Development Committee held its meeting

Wood-based Industry Development Committee held its meeting in Yangon on Saturday.

Union Minister for Natural Resources and Environmental Conservation U Khin Maung Yi gave a speech, emphasizing the sustainability of forest resources through the implementation of a Forest Management System.

He highlighted the need to prioritize forest conservation and restrict resource extraction accordingly.

Additionally, he stressed the importance of producing value-added products from the extracted timber to generate income and create job opportunities for local communities.

Starting from January 1, 2023, the export of timber logs has been suspended, and only half-finished and finished wood products are eligible for export. In order to meet market demands, ensure smooth workflow, and promote sustainability, strategic planning is essential.

The Union Minister called for collaborative efforts with private entrepreneurs and international organizations to foster the development of the wood-based industry.

During the meeting, attendees reported on various aspects of their work, including policy and regulation review and amendment, production, market conditions, technology, investment, and taxation.