A joint working group to develop timber industry relations could be formed between Russia and Finland which are discussing a US$1.8bn investment in projects for the sector.
However, Russia’s prime minister Mikhail Kasyanov says Russia must change its trade relations with Finland, a major buyer of Russian wood. It should stop being merely a supplier of raw materials for other countries’ timber industries and instead seek investment for its own timber processing plants.
Investment projects under discussion by Russia and Finland include three paper mills and a lumber factory. The countries are also planning to form a working group for co-operation in the timber industry.
Russia exported 11.7 million m³ of lumber to Finland last year, accounting for 82% of the country’s wood imports.
