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    Home > Food News > Food Articles > Switzerland joins the new International Agreement on Coffee and Cocoa and withdraws from the International Cotton Advisory Committee

    Switzerland joins the new International Agreement on Coffee and Cocoa and withdraws from the International Cotton Advisory Committee

    • Last Update: 2022-10-19
    • Source: Internet
    • Author: User
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    On September 23, the Swiss Federal Council approved the new international agreement on coffee and cocoa and decided to withdraw from the International Cotton Advisory Association (ICAC
    ), according to information released by the Swiss Federal Economic Directorate-General on September 28.
    In this way, the Swiss Government hopes to concentrate on areas
    of great importance to Switzerland.
     
    According to the official website of the Swiss Federal Economic Authority, Switzerland has been a member of the International Coffee Agreement since 1964 and the International Cocoa Agreement
    since 1972.
    Both agreements aim to promote exchanges and cooperation
    between producer and consumer countries.
    Both agreements are expiring, and new agreements
    need to be renegotiated.
     
    In the new negotiations, Switzerland has achieved its foreign economic policy priorities, including strengthening governance, cooperation and sustainability
    .
    In the future, the new international coffee and cocoa agreement will promote the sustainable development
    of the international coffee and cocoa industry.
     
    The Swiss Federal Economic Directorate said that coffee and cocoa are extremely important industries
    for Switzerland.
    Over the past three decades, imports of both commodities have tripled
    .
    Swiss companies are deeply involved in the international coffee trade
    .
    In terms of value, Swiss companies account for 10% of global coffee exports, making them the world's second-largest coffee exporter
    after Brazil.
    Swiss cocoa traders also have considerable influence
    in the world.
    In contrast, Switzerland's importance in the International Cotton Advisory Board has diminished over the past decades
    .
    In order to concentrate on the bodies that were important to it, Switzerland had decided to withdraw from the International Advisory Committee on
    Cotton.
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