The Council of Forest Industries (COFI) congratulates the Canadian government on reaching an agreement in the Trans-Pacific Partnership (TPP) trade negotiations today. The agreement will create new opportunities for the British Columbia forest industry, especially in emerging Asian markets.
“We’re particularly encouraged by Japan’s willingness to gradually eliminate tariffs on forest products imports,” said Susan Yurkovich, President and CEO of COFI. “We have long and productive relationships in the Japanese market, and we believe the TPP will only strengthen those relationships.”
COFI also sees great opportunities in ASEAN countries such as Vietnam and Malaysia, where British Columbia softwood lumber can become a competitive substitute for tropical hardwoods in the manufacturing process if the existing 30%-40% tariffs are reduced or eliminated.
Export markets for the wood products manufacturing industry are critically important to the British Columbia economy. For example, forest products account for 24 per cent of all cargo exports from Port Metro Vancouver. The forest industry contributes $12 billion annually to provincial GDP and 150,000 jobs in the province rely on the industry.
COFI is a trade association representing forest companies operating in communities throughout the interior of the province of British Columbia. Our members are leaders within the global forest products industry. They drive the economy of the province and the communities in which they operate through world-leading forest practices, innovation, sustainability and job creation.