The Cotton Association of India (CAI) has signed an MoU with its counterpart in China, the China Cotton Association (CCA) to promote good cotton trading practices and cooperation. The partnership will go a long way in making cotton trading safer in both countries.
According to Nayan C Mirani, President CAI, India and China are the largest cotton economies, and signing this MOU will go a long way in resolving the issues faced by traders in both the countries.
The MoU envisages co-operation on a host of matters relating to cotton, including regular exchange of delegations between the two trade bodies, training, information exchange and dissemination and speedy resolution of members' issues, among others, the CAI said in a release.
For many years China has been the biggest importer of Indian cotton. This MoU will definitely promote Indian cotton in China in a big way. It is an historic development and will foster better understanding between CAI and CCA.
The MoU was signed by CAI president Nayan C Mirani and Gao Fang, legal representative of CCA, in the presence of Dai Gongxing of CCA and the Indian delegates who accompanied Mirani. The Indian delegates present at the event included CAI board members, Vinay Kotak, Arun Sekhsaria, Raja Gokulgandhi, Rishit Dholakia and Mohit Shah, former president of the International Cotton Association (ICA) UK.
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