Forum on tropical forest investment opens

Accra, Aug.28, GNA- African forest trade in secondary processed woods has remained at one per cent of the International Tropical Organisation (ITTO) countries, while China has increased its share from 10 per cent to 15 per cent in the last five years. Vice President Alhaji Aliu Mahama who made this known at the West Africa Tropical Forest Investment Forum, which is underway in Accra said inter-African Regional trade remains low relative to trade with traditional importing markets in Europe and lately China. "Generally, the domestic markets of the African Region are potential consumers of large volumes of wood relative exported," he said.

The three-day forum, which has attracted about 160 participants is on the theme: " Issues and Opportunities for Investment in Natural Tropical Forests." It aims at increasing the level of understanding of the opportunities and constraints to investment in natural tropical forestry. The participants would engage in a panel discussion on issues like: "Nature of Tropical Forest Industries and Investments: Trends and Meeting Investment Needs of West Africa and Central Africa," "Opportunities for Investments in Natural Tropical Forests of West and Central Africa," and "National Policy and Enabling Investment Climate in Forestry.

Vice President Mahama noted that Africa have a competitive advantage in eco-tourism, which remains largely untapped and therefore requires serious consideration. "As a matter of fact the African Continent accounts for 25 per cent of the world's tropical rain forest, whilst its natural tropical forests are also known to be the richest in biodiversity. " I therefore urge this conference to deliberate and come out with strategies that will establish a link between small-scale forest businesses within the African context on the one hand and a growth in improved livelihoods for the impoverished millions in the continent on the other hand," he said.

Vice President Mahama observed that the extent of illegal logging associated with the conflict of interests in the management of forest resources is largely driven by low level efficiency of primary wood processing, which makes the demand for higher rates of harvesting by both the formal and informal sectors a formidable challenge. " It is my conviction that these challenges can be overcome with improved labour technology and incentives to support tertiary processing and increased employment, particularly in the informal sector." The forum is being sponsored by the Government of Ghana, ITTO, Forestry Commission, the World Bank, African Development Bank and the Food and Agriculture Organisation.