Laos is considering harnessing its rich forestry resources for the sale of carbon credits according to state-run daily Vientiane Times, Wednesday.

Government officials and development partners working in the forestry sector gathered here in Lao capital Vientiane to discuss Reducing Emissions from Deforestation and Forest Degradation (REDD) . Participants discussed REDD preparation in the country as well as the potential for Laos in the carbon credit market.

REDD is an effort to create a financial value for the carbon stored in forests as well as an incentive to reduce emissions from forested lands and to invest in low carbon paths to development. Laos began to study REDD after the country became a member of the forest carbon partnership fund in 2008.

A survey in 2010 showed that forests covered approximately 41 percent of the country's total land area. The Lao government plans to increase this figure to about 65 percent by 2015 and 70 percent in 2020.

In recent years the government has taken significant steps to protect forests in the country with the establishment of 49 areas of conservational forest covering some 7.9 million hectares. At a provincial and district level there are 24 areas of protected forest that cover 4.7 million hectares and an additional 3.1 million hectares of production forest.

According to Forestry Resource Management Department Director General Khamphan Nanhthavong forestry in Laos is endangered by practices such as illegal logging, shifting cultivation and infrastructure development. The Ministry of Natural Resources and the Environment is continually seeking measures to protect and manage forest areas.

"To be successful in this, we require the close cooperation of every sector in the government, private industry and the general public as well," Khamphan said.