Forestry sub-agreement under IRA: Letter of Understanding to promote mutually beneficial exchange of logs

Between:

The Government of Yukon as Represented by The Minister of Energy, Mines and Resources

And:

The Government of British Columbia as Represented By The Minister of Forests

This Letter of Understanding recognizes and builds on the commitments the Government of Yukon and the Government of British Columbia (the “Two Governments”) made in the Intergovernmental Relations Accord signed by the Premiers on July 9, 2004 to promote cooperation in resource management and development.

The Two Governments are committed to sustainable forest management and to ensuring that their respective forest resources are managed, protected and conserved in a manner that encourages maximum productivity and that has regard to the immediate and long term economic and social benefits such resources may confer on the jurisdictions of the Two Governments.

The Two Governments recognize that it could be mutually beneficial to engage in an exchange of logs from certain geographic areas within their respective jurisdictions. The potential benefits from such an exchange are increased timber utilization, more economic processing of forest resources and increased economic development opportunities within the jurisdictions of the Two Governments.

Therefore, the Two Governments agree to work cooperatively to further examine and identify the actions necessary to promote a mutually beneficial exchange of logs between the two jurisdictions.

This Letter of Understanding is signed by the Two Governments by their duly authorized representatives on the dates noted below.