MOU to improve cooperation between cotton industries
14 Nov '06
3 min read
MEMPHIS, Tenn. – The National Cotton Council of America and the China Cotton Association signed a “Memorandum of Understanding” today promising cooperation between the countries' cotton industries.
The document was signed by NCC Chairman Allen Helms and CCA Secretary General Madam Gao Fang in a ceremony at the MemphisCottonMuseum.
“This memorandum signals a spirit of cooperation and good will,” Helms said. “We look forward to a successful future of mutually beneficial trade and increased cooperation among the U.S. and Chinese cotton industries.”
As the dominant factor in the global cotton and textile markets, China is the world's largest cotton importer, largest raw cotton consumer (mill level) and the largest cotton producer. After recently being admitted to the World Trade Organization, China is rapidly merging into the world economy.
“Cotton trade with China is very healthy today as the United States exported 8.6 million bales or about 36 percent of its crop to China in the past 12 months,” said Helms, a Clarkedale, Ark., cotton producer. “This MOU is significant for the U.S. cotton industry as it seeks to build not only on that current momentum but on its long-time relationship with China.”
Helms said working through the NCC, the U.S. cotton industry has made substantial strides in fortifying its infrastructure to accommodate the current extraordinary volume of U.S. raw cotton export trade.
marketing@alchempro.com
