PF Olsen signs Memorandum of Understanding and hosts Zhang Yi

PF Olsen had the honour to be involved in the recent visit of Chinese President Xi Jinping to New Zealand. PF Olsen's involvement was two-fold. In one capacity, Peter Clark (PF Olsen's CEO) attended a NZ China Council meeting with President Xi, followed by a gala lunch in Auckland on Friday 21st November in his capacity as a member of the NZ China Business Council. The day before in Wellington, Peter executed a Memorandum of Understanding (MOU) with the China National Corporation and the China Development Bank. The MOU establishes a basis for cooperation for Chinese investment in forestry and for greater access to the vast China market.

Signing of MOU

Peter Clark signs an MOU of co-operation in the presence of New Zealand Prime Minister John Key and Chinese President Xi Jinping

 "China is a critically important market for New Zealand forest owners", Peter points out. "This MOU will assist with PF Olsen's strategy to gain better access to the China market in the provision of forest products and forestry services. This could eventually lead to encouragement of investment in domestic processing of New Zealand Radiata pine logs into higher value wood products sought after by the Chinese."

Two weeks later, PF Olsen was privileged to host Zhang Yi (Chairman of the State-owned-Assets Supervision and Administration Commission of the State Council – the SASAC) and his delegation. The SASAC is a powerful government department, effectively overseeing the activities of the vast number of state-owned-enterprises in China. Whilst many of the delegation were involved in the rail transportation sector, it was very pleasing to see Zhang Yi show a strong interest in forestry. We were told Mr Zhang has spent a large part of his career in forestry and also worked in harvesting crews in China.

Fortuna Forests Products, a large purchaser of NZ Radiata pine logs, organised for Zhang Yi to visit Port of Wellington and later join PF Olsen for dinner on Thursday the 4th of December in Taupo. The next day the group visited a logging crew at Patetonga forest in the Waikato.

Bruiser Contracting
Mr Zhang, a harvesting worker in a "former life", charmed Jody Simpson from Bruiser Contracting on site at Patetonga forest whilst presenting a gift of tea.