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Russia will become one of the most powerful countries in the world in terms of timber production and processing
MOSCOW, February 3. Russian Minister of Economic Growth and Trade German Gref hopes that once the Russian government approves the latest forestry codex Russia will become one of the most powerful countries in the world in terms of timber production and processing. He made this announcement yesterday after a discussion of the proposed codex. In the minister's opinion, the new codex will stimulate a considerable rise in GDP. 'It is one of the key factors that could bring a substantial rise in national GDP,' Mr Gref said. 'Russian forests have a large economic potential.' 'It is difficult to overestimate the significance of the new codex as it is the catalyst for commercializing the entire industry of timber production,' he said. Mr Gref stressed that at present there is a lack of investment in this sector due to the absence of laws and guarantees protecting those who are active in the industry. 'At present people only lease forestry on short-term agreements and so there is no large-scale investment,' the minister explained. 'The leading enterprises in the timber sector have been awaiting this document and now see more potential for investing in the national timber processing industry.'
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