(Business in Cameroon) - The Central African Forest Commission (Comifac) hosted yesterday in Yaoundé the signing ceremony of the Tropical Timber Trade Facility (TTT) project note. This program, backed by German cooperation, is designed to foster legal and sustainable tropical timber trade in Central Africa.
Specifically, the TTT project aims to outlaw exports of illegal timber to international markets. According to the International Technical Tropical Timber Association (ITTTA), only 18% of the 55 million hectares of registered timber concessions in Central Africa are verified as legal or certified. Through the TTT project, Comifac seeks not only to reverse this trend but also to improve government revenues and the living conditions of people living near the concessions.
“Higher legal timber production means increased tax revenues for Central African economies. Also, local populations, especially those living in remote rural areas, will benefit from legal employment,” Comifac said.