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India & Australia strengthen cotton trade ties with new MoU

Author Admin Estimated read time 2 min read



The Australian Cotton Shippers Association (ACSA) and the Cotton Association of India (CAI) signed a Memorandum of Understanding (MoU) on Friday in Mumbai. The agreement outlines mutual cooperation in areas such as the exchange of ideas and information concerning cotton production, trade trends, global pricing, and market outlooks. The MoU, signed by CAI president Atul S Ganatra and ACSA chair Cliff White, will also strengthen trade, improve market access, and foster reciprocal support through dialogue to promote the interests of their respective cotton industries.

The MoU was signed in the presence of several dignitaries and representatives from the trade and industry who attended the event. Ganatra highlighted the benefits of the Australia-India Economic Cooperation and Trade Agreement, which came into force on December 29, 2022, allowing duty-free access for Australian cotton into India under a specific quota of 51,000 tonnes (300,000 bales of 170 kg) per year. He also stressed the need for enhanced cooperation and stronger business relations between the cotton industries of both countries.

ACSA and CAI signed an MoU to enhance collaboration in cotton trade, market access, and information exchange.
The agreement supports stronger ties under the Australia-India Economic Cooperation and Trade Agreement.
ACSA delegates also visited CAI, attended a seminar, and explored the historic Cotton Exchange, engaging with Indian industry representatives to boost bilateral cooperation.

ACSA chair Cliff White delivered an informative presentation on the Australian cotton sector, which was followed by a one-hour question-and-answer session. Indian farmers, ginners, brokers, and other delegates participated in the seminar.

A delegation from ACSA, including Cliff White, CEO Jules Willis, Shay Dhareula, Joel Hatherell, representatives from Olam Agri, and Theodare Immanuel, director at Austrade, visited the CAI. The delegates met with the CAI board of directors and toured the historic Cotton Exchange building, a 100-year-old heritage structure. A seminar on Australian cotton was also held, attended by numerous representatives from the Indian cotton trade and textile industry.

Fibre2Fashion News Desk (KUL)




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