Japan now part of ICA's 'safe trading' community

02 Jun '15

2 min read

Joining some of the world’s major cotton organisations, the Japan Cotton Traders’ Association (JCTA) has become a member of the International Cotton Association (ICA) and officially joined its ‘safe trading’ community, ICA said in a statement.

“The Japan Cotton Traders’ Association is delighted to formalise its relationship with ICA, as shown by the fact there have been no firms from Japan on the ICA’s ‘default list’. Each and every member of JCTA fully supports the principle of contract sanctity and the ICA values. We look forward to working more closely with the ICA and its members,” said Ken Yamaoka, JCTA president.

With a 550 strong membership that represents all sectors of the trade, the ICA has a special ‘Affiliated Association’ membership category that is aimed at like-minded cotton associations to help reinforce contract sanctity and promote safe trading right across the supply chain. Since the category was introduced in 2011, eight associations have now signed up - Supima, Bangladesh Cotton Association, Abrapa, Spinners and Weavers Association of Korea, Australian Cotton Shippers Association, Turkey’s IPUD, Better Cotton Initiative and JCTA, the statement said.

Jordan Lea, ICA president says: “There are only a few organisations that share a long, consistent and somewhat similar history to the ICA and the JCTA is certainly one. Japan and its cotton industry have been reputable partners for years now and having them join the ICA to help us foster the ‘safe trading environment’ effort is a win-win for both organisations. Members of the JCTA and the Japanese industry serve on our board, attend our functions and participate in the ICA at every level. The opportunities to support one another as we move forward together are welcomed by all here at the ICA as we look towards the future and reflect on our shared past.”

There is no joining fee or annual subscription to become an ICA affiliated association. The ICA also pass on a 50 per cent discount on its membership fees to producers and mills that are registered with each new affiliated association. (SH)

Fibre2fashion News Desk – India

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