Thailand’s Forest Industry Organisation (FIO) aims to kick-start the country’s teak exports.
The FIO, which also wants to modernise the wood processing industry, believes it can make more than 10bn baht annually by exporting teak to Australia, China, India, New Zealand and Vietnam.
It wants to export more than 10,000m3 of timber every year, including furniture and veneers.
New machinery costing 10m baht is needed but FIO estimates that processing would make more than 10bn baht annually.
Other plans mooted include the privatisation of the 80m baht Thai Plywood Co Ltd.
