Russia to boost timber sales

Prime Minister Viktor Zubkov is calling for the development of Russia's timber industry. Visiting the Vologda Region to discuss the issues facing the sector, he said although Russia has the money, it lags behind other countries in terms of know-how and te

Zubkov invited foreign companies to invest in the country's industry.

Meanwhile, Economic Development Minister, Elvira Nabiullina, says more money must be spent on processing wood in Russia instead of simply exporting it.

“We need investment domestic or foreign into wood processing because that’s something we aren’t fully utilizing. The share of timber industry in both GDP and exports is relatively low, that’s why we need financing both mid-sized and large projects,” Elvira Nabiullina stressed.