IWPA: President Biden’s Indo-Pacific Economic Framework Should Promote Trade in Wood Products
FOR IMMEDIATE RELEASE
MAY 24, 2022
MEDIA CONTACT: MIKE BURITA
mike@buritamedia.com or 202.420.9361
IWPA: President Biden’s Indo-Pacific Economic Framework Should Promote Trade in Wood Products
Alexandria, Virginia – The International Wood Products Association (IWPA) commended President Biden and his Administration on the release of its much-anticipated Indo-Pacific Economic Framework (IPEF). The framework is indicative of a well-placed focus on the strategically-vital Indo-Pacific region. IWPA encouraged the Administration to emphasize greater trade facilitation with the region to boost trade in globally-sourced wood products.
“The legally-and sustainably-sourced wood products from Indonesia, Vietnam, and Malaysia, in particular, are very important to U.S. manufacturers and consumers, with these nations ranking as the 6th, 7th, and 13th largest exporters of forest products to the U.S., respectively,” said IWPA Executive Director Bradley McKinney. “IWPA urges the Biden Administration to strengthen these bonds, and we pledge our support as they do.”
IWPA noted that the IPEF “framework” has the potential to build economic prosperity in the region by reaching agreements that encourage innovation, strengthen competitiveness, rebuild supply chains, and expand opportunity. It stressed that the reduction or elimination of tariffs is the most straightforward way to increase economic integration, and encouraged consideration of greater market access as IPEF Representative (USTR) outlining the following principles for IPEF:
- The U.S. should commit to working with key public and private stakeholders in the Indo-Pacific to promote trade in legally-and sustainably-sourced wood products in an effort to prevent illegal deforestation and reduce carbon emissions. Trade in, and use of, legally-and sustainable-sourced wood products is proven to provide benefits for climate change mitigation and carbon sequestration.
- The U.S. should partner with Indo-Pacific nations to build the capacity of wood products industry stakeholders to comply with national legal sourcing requirements. Expanded access to legally-and sustainably-sourced international wood products increases U.S. manufacturing competitiveness.
- The U.S. should work with Indo-Pacific nations to implement trade facilitation measures that enhance trade in legally-and sustainably-sourced wood products for industry stakeholders that have a clear record of commitments to fulfilling legal sourcing requirements such as pre-clearance or reduced inspections. Current legal sourcing requirements rely on criminal and civil penalties to ensure compliance. Trade facilitation such as pre-clearance or clear communication of applicable laws among parties to IPEF would provide a positive incentive for devoting additional compliance resources to ensure legal and sustainable sourcing.
“The Biden Administration’s rollout of IPEF is a positive step towards increasing economic integration across the Indo-Pacific, and we are advocating for that work to continue,” McKinney concluded. “As these important negotiations proceed, IWPA will continue to work with the Biden Administration and our partners around the world to advance our mission of building acceptance and demand here in North America for globally-sourced wood products from sustainably-managed forests.”
To view the IWPA comments to USTR, click here.
Established in 1956, the International Wood Products Association (www.IWPAwood.org) is the leading international trade association for the North American imported wood products industry, representing 220 companies and trade associations engaged in the import of hardwoods and softwoods from sustainably managed forests. Association members consist of three key groups involved in the import process U.S. importers and consuming industries, offshore manufacturers and the service providers that facilitate trade.