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EU now member of the International Cotton Advisory Committee

Being the 11th largest producer and 6th largest exporter of cotton, EU is the largest market for textiles in the world and the important trade and research institutions in the world of cotton are headquartered in the EU. The membership of the EU in the ICAC is of premeditated significance as there are 150 million people involved in cotton production, marketing and processing each season. The European Union itself, and many individual countries and companies within the EU, are significant providers of cotton-specific development assistance in recipient countries.

On May 16, the Council of the European Union approved the accession of the EU to the ICAC on May 18, 2017. H.E. A formal 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 was presented. The membership of the EU today at its 549th Meeting was confirmed by the Standing Committee confirmed the European Commissioner for International Cooperation and Development, NevenMimica, commented on this that Cotton is important both to the EU's economy also the EU's accession to the International Cotton Advisory Committee is significant step. As a member, the committee will work for a sustainable and inclusive cotton sector.

Started in 1939, ICAC is one of the oldest organizations within the architecture of intergovernmental bodies. It is the International Commodity Body representing cotton and cotton textiles. The mission of the ICAC is to assist governments in fostering a healthy world cotton economy. The role of the ICAC is to raise awareness of emerging issues, provide information relevant to the solving of problems and to foster cooperation in the achievement of common objectives. By bringing together producing, consuming and trading countries and all segments of the cotton industry and serving as an objective statistical observer, the ICAC serves a unique role as a substance for an overall positive change.

 
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