In the light of the ever-increasing consumption of cotton in Bangladesh, the International Cotton Association reportedly wants to provide wide-ranging training and mediation support to individual mills as well as trade associations to facilitate safe trading under ICA bylaws. This was stated by the ICA leaders who were in the country recently.
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“The ICA has training programmes in Liverpool, and we have visited Bangladesh several times and delivered training programmes, so that the parties could know what is right about the obligations,” Vice-President of ICA Jurg Reinhart reportedly told a newspaper in Dhaka, adding further, “Apart from that, we have education programmes on quality, risk management and so on, and we want to educate the party so that it should bring added value to the industry.”
The ICA leaders have also underlined that the future of the textile industry in Bangladesh is bright, and that the ICA is in the country to strengthen the bonds between the association and Bangladeshi spinning and textile sectors as the country is now the second largest cotton importer.
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Highlighting the role played by the 175-year-old trade association and arbitral body, Chief Executive Officer of the ICA Kai Hughes stated that ICA is the provider of framework for world cotton trade.
“If there are disputes regarding the bylaws and rules, the ICA resolves those through arbitration and mediation, and there are a good number of success stories in Bangladesh in resolving disagreements,” Hughes said, adding “Disputes are coming in two forms, one is of contractual and the other is of quality. The vast majority of dispute that we have to deal with are of contractual types.”
