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The Latvian Forest Industry Federation and JSC “Latvia's State Forests” Agree on Cooperation to Strengthen the Latvian Forest Sector

The Supervisory Board of the Latvian Forest Industry Federation and the Supervisory Board of JSC “Latvia's State Forests” (LVM) met to discuss ways to further develop the potential of the Latvian forest sector in the difficult international situation: forest productivity and carbon sequestration in growing trees, the total export value of the sector and the production of high value-added wood products, as well as competitiveness of the Latvian wood supply chain in Europe and the world.

“We strongly condemn the war started by Russia and Belarus, not only in words but also in deeds, and show our solidarity with Ukraine. In these circumstances, not only the international production chains are changing rapidly, but also the Latvian forest sector is being given even greater responsibility for the Latvian economy, regional employment, and faster achievement of the goals of energy independence. Therefore, it was especially important for the Latvian Forest Industry Federation and LVM to discuss cooperation,” says Indulis Kovisārs, President of the Latvian Forest Industry Federation.

During the meeting, the Chairman of the LVM Supervisory Board Edmunds Beļskis presented the Supervisory Board of the Latvian Forest Industry Federation with the company's vision of the most significant challenges, the company's plans for the supply of wood to the Latvian economy and work on preserving and increasing environmental values ​​in the country's forests. The parties agreed to exchange information expeditiously and to develop solutions to respond to short-term challenges. Also, within the framework of the memorandum of cooperation, work should be continued on the improvement of the regulatory environment to achieve the goals of the sector strategy.

Edmunds Beļskis, Chairman of the Supervisory Board of LVM: “We are aware that LVM plays an important role not only in stabilizing the forest sector, but also in the Latvian economy. In this alarming geopolitical situation and the imposed mutual sanctions, we see the significant role of LVM in ensuring Latvia's energy independence in the field of both traditional fuel resources and renewable wind and solar energy resources. LVM will continue active cooperation with the Latvian Forest Industry Federation in implementing the goals of the European Green Agreement in Latvia, developing an industry vision for increasing carbon sequestration based on the collected scientific data and experts to replace carbon-intensive materials and energy carriers with carbon-neutral or carbon-positive solutions.”