Global timber page on Guyana

Extract from http://guyanaforestry.blogspot.com/2007/03/global-timber-page-on-guyana.html

The global timber page on Guyana, has been updated to include information on world cup cricket and Jaling.

Guyana, one of the most corrupt countries in Latin America, is noted especially for links to the illegal drug trade. Guyana has a particuIar reputation for money laundering and, given that trade in timber accounts for most Guyana's official export earnings, it is likely that at least some of that trade is associated with money laundering.

The unit prices cited in the ITTO's fortnightly "Tropical Timber Market Report" indicate that the difference between the unit prices for Guyana's log exports are remarkably small relative to unit prices for equivalent products exported from other producer countries. The difference might well be attributable to transfer pricing fraud. Given that, during 2005, logs account for almost all India's (and half of China's) timber imports from Guyana, and that India and China (primarily India) account for more than half of Guyana's log exports, India and China may well be complicit in such fraud. The loss of export revenue attributable to transfer pricing fraud might amount to US$ 10mi during 2005. That amount represents some 2% of Guyana's export revenue (of US$ 500 million, roughly half of which was then attributable to gold, diamonds and sugar, and a further 10% to timber)........Link