The Global Legal & Sustainable Timber Forum 2024 (GLSTF 2024) kicked off today (11 September) in Macao under the theme “Together Towards Reliable and Effective Global Timber Supply Chains”.

Attracting 700 guests from over 40 countries and regions

This year’s forum has attracted around 700 guests from over 40 countries and regions, including representatives from international organisations, national governments, and timber industry associations and enterprises.

The opening ceremony was officiated by Ho Iat Seng, Chief Executive of the Macao Special Administrative Region, Zheng Xincong, Director of the Liaison Office of the Central People’s Government in the Macao S.A.R., and Sun Xiangyang, Deputy Commissioner of the Ministry of Foreign Affairs of the People’s Republic of China in the Macao Special Administrative Region, along with ministerial-level delegates from countries such as the Central African Republic, the Republic of Fiji, the Republic of the Congo and Peru.

Enhancing Macao’s reputation and showcasing its MICE hardware and software capacities

Lei Wai Nong, Secretary for Economy and Finance of the Macao SAR Government, said in his speech that GLSTF, the first international conference on the timber industry held in Macao, is an integral part of the International Tropical Timber Organization’s (ITTO) efforts to promote the establishment of a legal and sustainable supply chain. The fact that the event has been held in Macao for two consecutive years reflects international organisations’ recognition of Macao’s MICE software and hardware capacities, which would not be possible without the guidance and support of the relevant ministries and commissions of the Central Government and the organisations based in Macao.

He pointed out that the Macao SAR Government will continue to leverage its unique advantages and work with the industry to bring more market-oriented, professional and international convention and exhibition projects to Macao, thus consolidating and enhancing Macao’s international image and influence and enhancing its reputation as an international metropolis.

In her video address, Executive Director of ITTO Sheam Satkuru urged all sectors of society to support the development and improvement of a sustainable global timber supply chain amidst challenges and uncertainties.

Facilitating exchanges and co-operation among enterprises and boosting technological innovation

This year’s event features a forum, four specialised sub-forums, and multiple business matching sessions, focusing on seamless integration across the entire industry chain, from upstream resources to downstream markets. The forum brought together industry leaders and experts to explore sustainable supply chain development and share best practices.

The sub-forums will delve into raw material selection, the environmental impact of production, and end-product recycling to raise the industry’s environmental awareness. The business matching sessions are designed to facilitate exchanges and co-operation among enterprises, boost technological innovation and highlight Macao’s vital role in the global timber industry.

Unlocking opportunities for green finance and cross-border trade in Macao

Research findings on the Global Timber Index (GTI) and blockchain technology, supported by IPIM and involving local higher education institutions, were presented at the forum. The GTI Platform is now up and running, with three new pilot countries, two additional industry indices, and the provision of training and business matching services. Moreover, the Blockchain-based Timber Tracking System (BTTS) has been successfully tested and will focus on technology upgrades and the development of a standardised system to further encourage international co-operation and innovation.

The sub-forum “Green Finance and Innovative Facilitating Measures for Green Supply Chains” and the “Global Forestry Youth Leadership Workshop: Wood and Bamboo Sustainable Buildings”, organised by business associations and higher education institutions in Macao, underline Macao’s proactive role in advancing green economic development. Furthermore, business associations in Macao will participate in the “Action Framework for Promoting Legal & Sustainable Timber Supply Chains” and the “Green Finance and Green Supply Chains (GF&GS) Integration Action Plan”, unlocking new opportunities for green finance and cross-border trade in Macao.

Co-hosted by ITTO and IPIM, the GLSTF 2024 will hold its specialised sub-forms and side events tomorrow (12 September), with exhibition areas for wood products and small wood building materials. For more details, please visit the official website: http://www.glstf.net/.