The Forty-seventh session of the International Tropical Timber Council (ITTC) and the Associated Sessions of the four Committees (Finance and Administration; Economic Information and Market Intelligence; Forest Industry; and Reforestation and Forest Management) entered its third day of discussions today in Antigua, Guatemala.

In the morning, the Committee on Finance and Administration (CFA) met to discuss the draft administrative budget for 2012. Meanwhile, the Committees on Economic Information and Market Intelligence and Forest Industry (CEM/CFI) held their first meeting of the week, addressing: new projects and pre-projects; report on completed projects and pre-projects; ex-post evaluation; policy work; and recommendations to the ITTC. At lunch, delegates participated in a side event organized by The Forests Dialogue on REDD Readiness.

In the afternoon, delegates convened in a Joint Committee Session to hear the Annual Market Discussion, followed by a Council session covering ITTO Thematic Programmes, the role of ITTO in international and regional organizations and fora, and the Annual Review and Assessment of the International Tropical Timber Situation in 2011. In the evening, the Committee on Reforestation and Forest Management met to discuss the report on completed projects and pre-projects, while a contact group met to consider activities under the Biennial Work Programme for 2012-2013. This was followed by a reception in celebration of the ITTO's 25th Anniversary, hosted by the Chair of ITTC-47.