The first delegation from the government of the Republic of Karelia is to visit the US to showcase timber and mineral opportunities in the north-west region of Russia.
US companies will have the opportunity to meet not only Karelian government officials but also representatives from the Republic’s biggest timber and woodworking companies including JSC Karellesprom, ZAO Zapkarelles, ZAO Nord Inter House and ZAO Shuyales.
Eighty-five per cent – or 148,000km2 – of Karelia’s territory comprises state forest stock and the total of timber resources is 807 million m3.
The amount of foreign investment in the region exceeded US$34m in 2003. Finland is, at 25%, the biggest investor while American investment currently makes up 5% of the total.
