17 February 2014: The International Tropical Timber Organization (ITTO) has provided an overview of the Independent Market Monitoring (IMM) project in support of the European Union (EU) Action Plan on Forest Law Enforcement, Governance and Trade (FLEGT) Voluntary Partnership Agreements (VPAs). The project was developed in response to a call from VPA partner countries to evaluate whether addressing illegal logging, improving governance, and enhancing law enforcement is improving market access and the share of EU timber trade. In particular, with the first FLEGT timber expected on the European markets in 2014-2015, the project will examine how legally verified timber supplies will impact the timber market.

The project plans to engage correspondents in VPA partner countries in order to establish a baseline on timber trade with the EU. In consultation with stakeholders, the database of information will be analyzed so as to identify tropical timber market trends, including the drivers of change.

The project will be implemented in the six countries that have already signed VPAs with the EU as well as countries with agreements under development. With the EU signing the contribution agreement in December 2013, the project is intended to cover 60 months with a budget of over €4 million. [ITTO Press Release]