OIC Action Plan to improve cotton sector of member nations
25 Oct '06
1 min read
At the Organization of the Islamic Conference (OIC) meet this week cotton producing countries devised a 'Action Plan' that focuses on reducing poverty by expanding cotton sector in the member country.
The countries plan to support and advance cotton farmers by providing advanced machineries and improving co-operation among the nations.
This program also encourages countries to set production and quality targets and aggressively work to achieve them.
According to statistics OIC member countries account for 28 and 24 percent of global cotton output and consumption, while 36 and 27 percent of the total export and import, respectively.
However, cotton industries of these countries are struggling to survive and develop in the international market.
Islamic Development Bank and the advisory board will collaborate to guarantee the financing and the effective, speedy execution of the action plan as well as organizing trade fairs with the participation of cotton producers, traders and businessmen active in textile industry.
Three hubs of excellence one for each, Africa, Arab and Asia, will be chosen with a view of harmonizing and intensifying research for the progress of the cotton sector.
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