of native forests Forestry by region Among the most important regions in Argentina for the industry are the provinces of Misiones, Corrientes, Entre Ríos, and Buenos Aires. These four provinces form the country's eastern border with Uruguay and Brazil, and comprise 80% of the total cultivated area. Forests are composed of the following species: 50% – Pine (Misiones, Corrientes, Entre Ríos, Patagonia, Central and Northwest areas of the country) 30% – Eucalyptus (Misiones, Corrientes, Entre Ríos, Buenos Aires, La Pampa, Santa Fe, Central and Northwest area of the country) 16% – Willow and aspen (Buenos Aires, Río Negro, Mendoza, Neuquén) 4% – Other broad-leaved trees The Argentine forestry sector has strengthened considerably in the last 15 years. The reasons behind this growth include: Great extensions of undeveloped land for the forestry industry at low prices that do not compete with other industries such as agriculture The Law 25,080 which provides economic incentives and favorable investment environment for the industry (including fiscal stability) No restrictions for foreign investment During the 1990s, Argentina was a net importer of forestry products with high value-added (i.e. paper, cardboard, furniture, etc.) and a net exporter of primary and low value added goods (i.e. wood, cellulose pulp). This situation has changed especially after the currency devaluation in 2002 and foreign investment during the 1990s. Now, the country has begun producing a number of high value added products such as fiberboards and finished products such as furniture. Argentina is now in a position to become an important producer of forest products in the future. The industry is focusing on the production of more high value added products, and increasing rates of plantation. Other issues There are both negative and positive factors that currently affect the forestry industry in Argentina that need to be considered by investors. Argentina still has low land prices relative to other countries involved in forestry (e.g., Chile and Brazil). It is estimated that the cost of land varies between US$250 and US$450 per hectare ($101/acre - $182/acre). Also, Misiones and Corrientes have estimated cultivation costs of US$800 to US$1,000 and US$400 to US$500 per hectare respectively. The soil, especially in the area of Misiones and Corrientes, is specially suited for forestry, and has one of the highest growth rates for forestry in the world. Another issue is the lack of interest of the SAGPyA (Secretaria de Agricultura, Ganaderia, Pesca y Alimentacion) to promote