Putin confirmed that the two countries had found a compromise in their troubled timber trade.
Putin told Vanhanen that Russia had reversed its former decision on the introduction of timber export tariffs in order to help Finland in the current crisis, according to a Russian government press release.
Russia is a major exporter of round timber to Finland, and introduced the tariffs in a bid to strengthen its own processing industry. The duties resulted in serious problems for the Finnish forestry industry, which is dependent on the Russian raw materials.
During the bilateral talks held in Helsinki, Finland, Putin also said that cooperation with Finland was a factor helping Russia overcome its own current difficulties.
The two government leaders touched upon as many as 25 issues, Vanhanen told the press following the meeting.
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SCA Timber and Persson Invest to form a joint sawn-products company, Gallo AB
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Canadian lumber production declines
Canadian lumber production in July totaled 1.5 billion board feet, a 1% decrease from June and a 24% decrease from July 2008, according to Statistics Canada. Production through seven months reached 10.7 billion board feet, 26% behind last year's pace, as Random Lengths reported.
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