The European Union has become a member of the International Cotton Advisory Committee (ICAC), a development which is of strategic significance to the world cotton industry and the 150 million people involved in cotton production, marketing and processing. Some of the most important cotton trade and research institutions are headquartered in the EU.
Following the vote of the European Parliament, the Council of the European Union approved the accession of the EU to the ICAC on May 18, 2017, the final step needed to complete the accession process. Ambassador Pierre Clive Agius of Malta (Malta currently holding the rotating presidency of the EU) formally presented the Instrument of Accession to minister (trade) Ali Tahir of the Embassy of Pakistan and ranking member of the ICAC Standing Committee on May 24, 2017. The Standing Committee confirmed the membership of the EU at its 549th Meeting.The European Union has become a member of the International Cotton Advisory Committee (ICAC), a development which is of strategic significance to the world cotton industry and the 150 million people involved in cotton production, marketing and processing. Some of the most important cotton trade and research institutions are headquartered in the EU.#
ICAC is the international commodity body representing cotton and cotton textiles. Formed in 1939, ICAC is one of the oldest organisations within the architecture of intergovernmental bodies. The mission of the ICAC is to assist governments in fostering a healthy world cotton economy.
In the current season, the EU is the 11th largest producer and 6th largest exporter of cotton, and the EU is the largest market for textiles in the world. The European Union itself, and many individual countries and companies within the EU, are significant providers of cotton-specific development assistance in recipient countries.
The European Commissioner for International Cooperation and Development, Neven Mimica, commented: "The EU's accession to the International Cotton Advisory Committee is an important step, coming only one month after we presented a set of focused actions to make value chains in the garment sector more sustainable. As a member, we will continue to work for a sustainable and inclusive cotton sector, ensuring decent jobs for all. Cotton is important both to the EU's economy and our development cooperation with cotton producing countries." (SV)
Fibre2Fashion News Desk – India
20240830145952.gif)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
