African Natural Resources Management and Investment Centre Issues New Report - 'Further Processing of Wood Products in Africa Will Contribute to the Continent's Industrialization and Integration'Qualitative changes in the processing and trade of wood and wood products are being called for. The sector, which is linked to industrialization, offers numerous benefits for Africa, including job creation and increased investments and income.
An overview of the dynamism and models of Africa's timber trade can help political decision-makers better understand the economic impact of the industry, which can support job and wealth creation, it points out. There is a $65.6 billion deficit in the total trade balance for wood and wood products in Africa the report notes, indicating that African countries are spending a lot more on importing these products than they receive from exporting them. Export and import flows for primary, secondary, and tertiary wood products to other parts of the world also vary among the regions.
African governments must demonstrate genuine political will, backed by technical and financial assistance from the regional economic communities and the African Union. The multilateral development banks and other donors should support investments to expand wood product processing capacities in the main producing countries and back the establishment of a marketing information system for wood products across the continent.).
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