Sweden and Finland brought their forests to the Union, redoubling the European Union's timber resources. The forest industries now constitute one of the most important sectors in the EU in terms of both production and employment, with over 3 million employees.
Russia's forests comprise over 20 per cent of the world£s timber resources and more than half of the world' pine forests, giving a great potential to develop forestry and forest industries in Northwestern Russia.
Bilateral cooperation between Russia and the EU on forestry and trade in timber is required. International environmental standards in the treatment of forests as well as protection of adequate areas of old forests and biodiversity are central elements of this cooperation. They are prerequisites for future development of forest industries in the region.