ICA and CAI reinforce MOU
We are delighted to have renewed our memorandum of understanding (MOU) with the Cotton Association of India (CAI) to reinforce the alliance and cooperation between our associations.
ICA President, Mr Bill Ballenden and CAI President, Mr Atul Ganatra renewed the MOU last week (7 March) in Mumbai during CAI’s international conference. The alliance was first established when the MOU was created in January 2014 to formally acknowledge the relationship between the associations.
With the large majority of international raw cotton contracts traded under ICA Bylaws & Rules and India’s market position as the world’s largest producer of cotton, this renewed alliance is significant for the trade, with both associations confident that it will continue to benefit the entire industry.
On signing the renewed MOU, Mr Ballenden said: “The signing of the new MOU marks an important evolution of the special relationship that exists between the ICA and the CAI. It continues to build on a shared desire to put sanctity of contract at the very heart of our Associations. I look forward to us continuing this evolution in the months and years ahead.”
Mr Ganatra added: “This Memorandum of Understanding marks an important relationship for CAI, which is as significant today as it has ever been during our history as an Association. It takes on added significance as we approach our centenary year in 2021.”
The MOU will help continue to foster greater cooperation between our associations and enable us to work more closely on a number of shared goals, which include promoting sanctity of contract; training and visit programmes; information exchange and dissemination; diplomatic initiatives; testing and quality issues.