Six Panamanian teak processing companies exhibited for the second consecutive year at the 18th edition of the Dubai International Wood & Wood Machinery Show.
Among the participants were Ecotopia Teak Incorporated, Desarrollo Agroforestal de Batipa S.A., Apical Reforestadora S.A., Plywood Orozco, and Estoic: a legal and accounting firm established in Dubai that provides services to exporters.
"Each of the companies participated under the name 'Panama Teak,' which is a registered trademark dedicated exclusively to the marketing and sale of commercially cultivated and processed teak products in the Republic of Panama, and is also FSC (Forestry Stewardship Council) certified."
The Panamanian government, through the Authority for the Attraction of Investments and Promotion of Exports (Propanama), facilitated the participation of these companies in an exhibition, alongside 42 other countries, at the Dubai International Wood & Wood Machinery Show.
"The purpose of the commercial mission was to position Panama's teak as a sustainable and high-quality alternative to teak from native forests."
We do not extract wood from native forests, and we are deforestation-free producers. Our teak has remained among the top 4 export products in the country for the last five years, even during the pandemic. According to the tariff description (4403.42.00) available at the Customs Authority, our FOB value in 2021 reached $40.9 million, and in 2022, it was $42.4 million," the companies stated in a press release.
Recognition
"This year, Ecotopia Teak received the CSR Commitment Award for its commitment to corporate social responsibility. It has a chemical-free chain within its plantations, which also allows them to care for water, wildlife, and flora."
Over its 27 years, this company has produced teak in certified plantations, processed with a precision margin of 0.5 millimeters of variation, which has positioned it in the best markets in Europe. Its employees are settlers and indigenous people from Chepo and Darien with low formal education levels, but they have been trained by experts and work under Swedish standards.
Although it is the only company exporting value-added teak, authorities are seeking to encourage more Panamanian processors to invest in developing high-quality value-added products, diversify the country's export offering, and transfer knowledge to create rural development hubs.
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