Foreign companies mainly from Asia interested in teak and hardwood manufacturing, teak plantations, and papermaking in Myanmar have conducted inspections, say Myanmar officials

LOS ANGELES , November 13, 2012 () –

Companies from Japan, India, China, South Korea and Thailand have inspected various teak and hardwood manufacturing facilities, teak plantations and paper mills in Myanmar with an eye to investing, Myanmar officials said, reported The Nation on Nov. 13.

The investors met with officials from Myanmar’s Ministry of Environmental Conservation and Forestry earlier this year, and are preparing to enter the country’s teak and hardwood market by buying assets, the officials said.

About 283,000 cubic meters (928,478 cubic feet) of teak and 1.98 million m3 of hardwood are produced annually in Myanmar. The country’s exports of teak account for 75% of the worldwide market, including shipments to China and India, The Nation reported.

Myanmar intends to ban exports of timber by April 2014 as a way to stop illegal trading and the destruction of its forests. The country exported 371,000 tonnes of teak and 1,789,400 tonnes of hardwood in 2011-2012.

Companies interested in Myanmar investment include Japan’s Double A Public Co. Ltd. in Thailand; P.L. Global Impex Pte. Ltd. and JK Paper Ltd., both in India; and Myanmar Korea Timber Inc. and HANA, both in South Korea.

Also interested are the Japanese Overseas Plantation Center for Pulpwood, Daio Paper Corp., Oji Paper Co. Ltd., Mitsui and Kansai, all from Japan, reported The Nation.

The primary source of this article is The Nation, Bangkok, Thailand, on Nov. 13, 2012.

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