Myanamr to Privatize Domestic Timber Trading
12/31/97
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Headline: Myanamr to Privatize Domestic Timber Trading
Source: CNN
Date: 12/31/97
Copyright: 1997 Cable News Network, Inc. A Time Warner Company
YANGON (Jan. 1) XINHUA - Myanmar will gradually privatize
its domestic timber trading, which is mainly run by the
state-owned Myanmar Timber Enterprise (MTE), official
newspaper The New Light of Myanmar reported Thursday.
The MTE will concentrate only on export business in the
future, Minister for Forestry U Aung Phone was quoted as
saying.
At a meeting of the Myanmar Timber Entrepreneurs'
Association here Wednesday, the minister also disclosed that
his ministry is planting 41.5 million trees annually for
commercial use, adding that 57 townships in three divisions
of Magway, Mandalay and Sagaing are being reafforestated.
He also urged entrepreneurs of the wood-based industries in
the country to join projects being jointly undertaken by the
MTE and the Forest Products Joint Venture Corporation.
Myanmar is rich in forest resources with forests covering
about 51 percent of its total land area.
According to official statistics, Myanmar's export of forest
products including teak and hardwood amounted to 71.4
million U.S. dollars in the first eight months of 1997.
Myanmar restricts export of logs and bans the private sector
from exporting teak logs after the enactment of the
country's Forest Law in 1992. However, export of value-added
products is encouraged.