To foster mutual cooperation and the exchange of ideas and information, the Cotton Association of India (CAI) has signed an MoU with the Australian Cotton Shippers Association (ACSA).
The MoU encompasses sharing of data related to cotton production, trade trends, global pricing, and market forecasts relevant to both countries. It was signed by Atul Ganatra, President, CAI and Cliff White, Chairperson, ACSA.
This bilateral MoU is expected to boost trade between the two nations and improve market access, as well as provide reciprocal support in facilitating discussions that benefit the interests of their respective cotton industries.
Highlighting the advantages of the Australia-India Economic Cooperation and Trade Agreement, which went into effect on December 29, 2022, Ganatra says, this agreement allows duty-free access for Australian cotton into India, with a specific quota of 51,000 metric tons per year. He also emphasizes on the need for greater collaboration and further strengthening of business ties between the cotton industries of both countries.
White delivered a presentation on the Australian cotton market at the event, which was attended by Indian farmers, ginners, brokers, and other delegates.
