Innovation & Market Driven Strategies: Keys to Sustainable Growth Timber; flexible, structurally strong and being the lowest embodied carbon of any commercially available commodity; contributes $600 billion to the global economy and that translates to 1% of global total GDP. According to the World Bank’s forecast, the global demand for timber will quadruple by 2050. The market foresees major changes in the regional supply of and demand for wood fiber over the next two decades which will impact both international markets and other producers around the globe. Southeast Asia itself has extensive tropical hardwood resources and wood processing industries, and is a major supplier of hardwood logs and woodchips. It is also a primary supplier of pulp, plywood and furniture to the global markets. Given Southeast Asia’s key role in the global hardwood markets, trends occurring in this region disproportionately impact global trade flows. The second edition of the Global Timber Conference 2017 (GTC 2017) is once again back to gather 300 odd regional policy makers, experts and captains of the industry from over 20 countries in Sarawak; under the selected theme ‘Innovation & Market Driven Strategies: Keys to Sustainable Growth’ to discuss and deliberate on strategies in lifting the timber and timber-products industry.
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