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It is an agreement that was negotiated under the auspices of the United Nations Committee on Trade and Development (UNCTAD) by producer and consumer countries of tropical timber. Its main objective was to create an environment for a sustainable trade in tropical timber that benefited both producing and consuming countries. The agreement was a breakthrough in this area of international trade and has been built on and expanded by subsequent agreements which have replaced it. It established the organization's headquarters in Yokohama, Japan.

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14y ago

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