Panamá exports processed teak to Europe
The new teak processing plant from forest plantations is a $3.7 million investment.
Panama has the first high-capacity and precision teak processing plant (from forest plantations) in the region, certified in chain of custody by FSC (Forest Stewardship Council), with the capacity to process 1,300 40-foot containers annually for certified premium markets.
Ecotopia Teak inaugurated the plant on January 28th in the town of Chepo, where national authorities and presidents of exporting associations such as APEX, SIP, and CONEP gathered.
Ambassador Carmen Gisela Vergara, General Manager of the Authority for Investment Attraction and Export Promotion (PROPANAMA), stated, “This investment represents a great innovation for our country, as we can export products with high domestic added value, introducing knowledge and technology transfer to exported timber that must also comply with the highest international environmental standards, in order to open new market opportunities in Europe, Asia, and North America.”
We participated last year with FSC-certified wood producers in the launch of the country brand “Panama Teak” during Dubai WoodShow 2022, which generated orders for Panamanian participants, emphasized Ambassador Vergara.
She concluded by stating that this year, they will also participate alongside Panamanian companies in this trade fair to promote increased exports, job creation through knowledge and technology transfer.
Bianca Morán, Administrative Manager of Ecotopia Teak, during the inauguration of the 2023 teak export, explained that this plant enables them to reach European markets with a stabilized, finished product of precision and high quality, not just raw material.
The importance of adding value to export products, as Ecotopia Teak does, lies in the diversification of export offerings and the creation of new jobs in rural areas with a high level of training, providing well-being to the population.
The president of the Union of Industrialists of Panama (SIP), Luis Frauca, emphasized, “We value this effort of innovation and investment, especially the projection of adding value to exports that are not in raw form, as it creates greater value for exports and elevates the country’s level of technological advancement.”
Similarly, Víctor Pérez, president of the Panamanian Association of Exporters (APEX), stated, “It is very gratifying 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 is a starting point for Panamá and the region because this company is an example, not only for Central America but also for South America, as it is one of the few factories that produces certified value-added wood products. This reduces our dependence on markets like 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.