PM shows way to increase forestry sector growth

PM shows way to increase forestry sector growthThe Prime Minister has come out with a series of ideas for building up of the forestry sector in New Zealand.

Continued commitment to emissions and a slew of free trade negotiations are the two most important ideas that he has given and said that these areas should be focused properly.

Forestry is the third largest export industry of New Zealand and brings in close to $3.7 billion in form of earnings. Forecasts show that a growth of annual $6.2 billion can be expected by 2014.

Talking during an industry conference, the PM said that a significant part of the growth in the industry is possible because of the FTA that New Zealand with China.

The relative low tariffs is affecting the sector now can 'rise quickly' since the demand for timber products are expected to rise in countries like Korea. This calls for more successful FTAs and said the PM that he is trying for the same with countries like India.

Meanwhile, the emissions trading scheme (ETS), which is another stream of revenue for the forestry business is going to get the push as well.