Insider trading laws letting us down, says director

Lax insider trading laws and too much red tape are two hurdles overseas forestry investors claim they are facing in New Zealand.

Michael Edgar, a director of UBS Timber Investors Asia/Pacific Region, told the New Zealand Institute of Forestry's conference last week that although the country looked politically stable to outside investors, its commercial laws were lacking.

He described the insider trading laws as an indictment on the country.

Mr Edgar addressed the conference from the perspective of an international timber investment management organisation with money in New Zealand forests.

UBS, one of the world's largest banks, manages $US1064 billion ($2522 billion) in client funds.

His provocative address was one of 10 given at the conference, which gathered forestry players to map a course forward for the industry as it faces up to a massive increase in harvest levels over the coming decade.

Speakers called for the industry's members to rediscover their passion for forestry, and to work together in a joint marketing effort targeted at export markets.

Dr Wayne Cartwright, professor of strategic management at the University of Auckland, compared forestry to its dairy industry counterpart. Although he observed that there were many differences, dairy's cohesive marketing strategy was one area most conference delegates agreed that forestry could learn from.