LABOR has described the timetable for the Turnbull Government's bid to rejoin the United Nations Security Council by 2029 as "unambitious".

In New York on Wednesday, Foreign Minister Julie Bishop announced the bid to nominate for the next uncontested seat on the council for the 2029-30 term.

It marks a departure from former Prime Minister Tony Abbott's stance on the UN, following his description of the former Labor government's successful bid for the 2013-14 term as not worth the $40 million spent.

Ms Bishop said Australia could play a key role in maintaining peace globally, as the world's security challenges grew each year.

Labor's foreign affairs spokeswoman, Tanya Plibersek, welcomed the move but said waiting 14 to 15 years was unambitious.

Ms Bishop also announced Australia would bid for a spot on the UN Human Rights Council for the 2018-20 term.