BVRio and CINFT establish partnership to assist Chinese traders in sourcing legal timber

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BVRio and CINFT establish partnership to assist Chinese traders in sourcing legal timber

The online negotiations platform for wood products BVRio has established a partnership with the Center for International Forest Products Trade (CINFT), State Forestry Administration (SFA), located in the Chinese Academy of Forestry (CAF).

The memorandum of understanding aims to promote legality in the timber trade sector in China. In particular, the parties will work together to adapt the BVRio Responsible Timber Exchange and Due Diligence and Risk Assessment System to enable Chinese timber traders and buyers to screen legal products. The process is set to be conducted in harmony with the China Responsible Company/Products Platform under development by CINFT and the China Responsible Forest Product Trade and Investment Alliance (China RFA).

The Chinese timber sector transacts significant volumes of timber, both domestically and internationally: China is the second larger global importer of tropical timber and consumes more than 10% of all harvested timber worldwide; the imported timber represents over 50% of the total volumes processed in China; a significant proportion of the timber production in China is exported for a variety of countries, including the European Union and the USA.

"The high rate of illegality affecting the tropical timber sector worldwide makes it urgent to provide the Chinese timber sector with appropriate tools to help importers to identify and avoid illegal timber," underlines BVRio in a news release. "Given the substantial volumes of timber imported by China, the adoption of measures to avoid the import of illegal tropical timber will generate a major positive impact in the global fight against timber illegality. Demonstrating the legality in the supply chain will also help the Chinese timber export sector to comply with requirements of regulated markets such as the EU, USA, Australia and others."

Both BVRio and the Chinese Academy of Forestry have been working to develop tools and systems to assist timber traders in conducting the due diligence and screening timber products for their legality status. This partnership will assist the parties to explore the synergies between their work, to result in wider positive impacts in the Chinese timber sector.   

BVRio's Due Diligence and Risk Assessment tool is an automated system, based on big data analysis and block chain technology, to screen tropical system for legality. Since it was launched in 2015, the system was used by timber traders and regulatory agencies to screen more than 15,000 containers and more than US$ 1 billion worth of timber products.

 

[News URL: http://cti-timber.org/content/bvrio-and-cinft-establish-partnership-assist-chinese-traders-sourcing-legal-timber]