Africa is facing a significant challenge in its timber trade, with experts highlighting a staggering $65 billion deficit between earnings from timber exports and expenditures on wood-related imports. This issue was discussed during a panel to mark the International Day of Forests on March 21, where experts emphasized the urgent need to address this trade gap.
The panel, titled “Forests and Innovation: New Solutions for a Better World,” focused on a report by the African Development Bank that highlighted the imbalance in Africa’s timber trade. The majority of Africa’s wood products are exported without processing, leading to a growing trade deficit. To combat this, experts called for investment in Africa’s timber processing capacity and the establishment of a continental wood marketing information system.
Léontine Kanziemo, Natural Resource Management Lead Advisor at the African Development Bank, emphasized the importance of sustainable forest management, noting that forests are crucial for the livelihoods of 1.6 billion people worldwide. She stressed the need to tap into Africa’s vast forest resources to drive industrialization, boost intra-African trade, and foster private sector growth.
Panelists also discussed challenges such as corruption, illegal logging, and the lack of integration of smallholder activities in national policies. They called for stronger links between the timber industry and global markets, as well as investment in advanced processing solutions to create new jobs and attract private investment.
Recommendations from the panel included addressing obstacles to Africa’s timber industry development, such as tariff barriers and high transport costs, while leveraging the opportunities presented by the African Continental Free Trade Area (AfCFTA). Panelists stressed the importance of sustainable forest management and called for the establishment of a master plan for forests in the Central African Economic and Monetary Community.
Overall, the panel highlighted the need for Africa to prioritize its timber industry, invest in infrastructure, and promote sustainable forest management to drive economic growth and development on the continent.
