The 34th session of the International Tropical Timber Council (ITTC-34) took place from 12-17 May 2003, in Panama City, Panama.

Approximately 220 participants attended the session, representing 43 member countries, two potential members, nine intergovernmental organizations and specialized agencies, and 23 non-governmental organizations.
The Council adopted 11 decisions on: projects, pre-projects and activities; the management of the administrative budget; the Asia Forest Partnership; criteria and indicators for sustainable forest management ; matters related to Article 16 of the 1994 International Tropical Timber Agreement (ITTA, 1994) related to the Executive Director of the International Tropical Timber Organization (ITTO) and staff; negotiations for a successor agreement to the ITTA, 1994 Agreement; cooperation between ITTO and the Convention on International Trade in Endangered Species (CITES) on broad-leaf mahogany; the management of project implementation; the biennial work programme and administrative budget; phased approaches to certification; and the expansion and diversification of international trade in tropical timber. At the session, delegates approved nine projects and eight pre-projects.
The Committees on Economic Information and Market Intelligence, Reforestation and Forest Management, and Forest Industry convened their 32nd sessions to review completed projects and pre-projects, consider ex-post evaluations, select projects and pre-projects for approval by the Council, and address policy work. The Committee on Finance and Administration held its 13th session to review financial and administrative matters, including contributions to the Administrative Budgets for 1986-2003, the current status of the Administrative Account and amendments to the Financial Rules. Delegates also held the ITTO Annual Market Discussion on World Trade and Business Developments. The Earth Negotiations Bulletin report outlining these discussions in detail can be found online at: http://enb.iisd.org/forestry/itto/ittc34/