The loss of demand resulting from the corona pandemic and the preventative measures that are being applied throughout the world affects the cotton and textile sectors from end to end. It is essential for each trading partner to be mindful of each other’s position.
The associations BCI (Better Cotton Initiative), CICCA (Committee for International Co-operation Between Cotton Associations), ICA (International Cotton Association), ICAC (International Cotton Advisory Committee) and ITMF (International Textile Manufacturers Federation) are unified in promoting a common set of values and shared commitment to safe trading and contract sanctity across the global cotton community. This joint challenge is to ensure that fair and equitable trade practices govern the commercial relationships throughout the cotton and textile supply chains.
The associations want to encourage that all those engaged in the cotton and textile value chains jointly and collaboratively commit to:
• take actions that are considered and designed to contribute to the recovery of the cotton and textile sectors in 2021 and beyond,
• communicate, collaborate and be responsive to the needs of their counterparties,
• continue to respect the trade rules that govern the sectors,
• recognize and publicize positive behaviors. Identify and call out negative, counter-productive commercial behaviors.
The strong sense of community in the cotton and textile world will continue to be a source of strength.