Today I completed Australia's ratification of the International Tropical Timber Agreement (ITTA), a key UN treaty for sustainable management of tropical timber.
The ITTA is the principal global agreement designed to achieve the sustainable management of tropical forests.
The ratification of this agreement is also vital in our effort to mitigate climate change, with mechanisms to reduce greenhouse emissions by eliminating unsustainable forest practices.
With 47 per cent of the global forest estate in tropical regions, Australia has significant interests in the sustainable management of these forests.
Within International Tropical Timber Organisation member countries only 4.5 per cent of tropical forests are currently being sustainably managed, according to the definition used by the Organisation.
Good forest management is critical to tackling climate change, as deforestation contributes 20 per cent of global greenhouse gas emissions.
The completion of the ratification of the ITTA will mean Australia is better positioned to play a leadership role in combating illegal logging activities, and working in partnership with the international community to ensure that forests around the world are properly managed.
The ITTA enables Australia to continue to extend our expertise in forest management to neighbouring countries, through greater collaboration on forest law enforcement and governance.
This year Australia signed forest carbon partnership agreements with Indonesia and Papua New Guinea.
Ratification of this agreement reinforces Australia's other initiatives in forest management, such as Australian objectives to assist Asia-Pacific countries build capacity to sustainably manage their forests.