The development of exports to European markets is supported by PROPANAMA.
The new teak wood processing plant from forest plantations has an investment of US$3.7 million. Adding greater domestic value to our export offering and creating dignified employment contribute to the economic recovery of the country.
The first teak wood processing plant (sourced from forest plantations) established in Panama has the capacity to process 1300 40-foot containers annually for certified premium markets. It boasts high capacity and precision in the region and is certified in chain of custody by FSC® (Forest Stewardship Council).
Ecotopia Teak inaugurated the plant on January 28th in the town of Chepo, with the presence of national authorities and presidents of exporting guilds such as APEX, SIP, and CoNEP.
Ambassador Carmen Gisela Vergara, General Manager of the Authority for Investment Attraction and Export Promotion PROPANAMA, stated that, “This investment represents a great innovation for our country, as it allows us to export products with high domestic added value, introducing knowledge and technology transfer to exported wood that must also meet the highest international environmental standards, in order to open up new market segments in Europe, Asia, and North America.
“We participated last year with FSC® certified wood producers in the launch of the ‘Panama Teak’ country brand during Dubái WoodShow 2022, which generated orders for Panamanian participants,” highlighted Ambassador Vergara.
She concluded by stating that this year they will also participate with Panamanian companies in the fair to promote increased exports, job creation, and the transfer of knowledge and technology.
Bianca Morán, Administrative Manager of Ecotopia Teak, explained that this plant allows them to reach European markets with a stabilized finished product, with precision and high quality, not just raw material, during the inauguration of the teak export in 2023.
The importance of adding value to export products, as Ecotopia Teak does, lies in the diversification of the export offering and the creation of new jobs in rural areas with a high level of training, while also providing well-being to the communities.
Luis Frauca, President of the Union of Industrialists of Panama (SIP), emphasized, “We value this effort of innovation and investment, especially the projection of adding value to exports beyond raw materials because it creates greater value in exports and raises the level of technological advancement in the country.”
Similarly, Víctor Pérez, President of the Panamanian Association of Exporters (APEX), stated, “It is very rewarding to see how Panama is evolving from exporting raw materials to exporting certified value-added products such as processed wood.”
Juan Carlos Palacios, Executive Director of the Sustainable Forest Management Corporation of Ecuador, considered that “this investment in Panama and the region is a starting point because this company is an example not only for Central America but also for South America. It is one of the few factories that produces a certified value-added product like wood, which reduces our dependence on markets such as Asia to sell our production.”
Ecotopia Teak, S.A., we are a family-owned company dedicated to reforestation, harvesting, and exporting wood from commercial plantations. We work under high production standards and with social responsibility to obtain high-quality wood according to the needs and demands of national and international markets. Additionally, we actively contribute to the local economy by creating employment opportunities in the communities where we operate. Our commitment is to lead the industry in sustainable reforestation and wood production, preserving our natural resources and building a greener and more sustainable future.