The IDB approved a $9.2 million credit for the government to implement a forest management project that will benefit 225 forestry companies.
The funds will be used in climate change adaptation and mitigation programs, through the Sustainable Forest Management project, reported the government of Guatemala.
In the first six months of 2019, $139 million in wood and wood products were exported from Central America, and 54% of them were sold by companies in Costa Rica and Panama.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphics"]
Because wood is being demanded for different types of use, opportunities have been identified to design and manufacture several differentiated products with high marketing potential.
According to Guatemalan businessmen in the sector, wood is no longer being used only for the manufacture of furniture or decoration of residences, but is also being demanded in corporate spaces such as offices and work environments, and in places such as retail stores, restaurants, hotels and hospitals.
In the first nine months of 2018, $206 million in wood and wood products were exported from Central America, and 52% were sold by companies in Costa Rica and Panama.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphics]
In the first six months of 2018, exports of timber and wood products from the region totaled $156 million, 3% more than the same period in 2017, partly because of sales to India.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
On June 6 and 7, wood producers and exporters will be meeting in Antigua, Guatemala, to explore business opportunities with international buyers.
The Living Interior Furniture Expo (L.I.F.E.) is being organized by the Guatemalan Exporters' Guild, and will be held in Santo Domingo Del Cerro, in Antigua Guatemala.
In 2016, Central American countries exported $223 million worth of wood and its manufactures, and the value exported to India grew by 20% compared to 2015.
Figures from the information system on the Central American Market for Wood and its Manufactures, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with the chart"]
The European Union has put into effect a regulation to combat trade in products manufactured with illegal timber with an emphasis on traceability.
From an article by the Costa Rican Trade Promotion Office (PROCOMER):
In March the European Union (EU) put into effect Regulation (EU) 995/2010 of the European Parliament which seeks to regulate the market for wood products in order to minimize the risk of selling illegal timber in the EU, this regulation requires the operator or company responsible for introducing a product of this nature to the region to be able to apply the principle of "due diligence", so as to ensure that timber traded is legal.