4. Global: New international cocoa agreement signed (IPS, ICCO)

| July 19, 2010

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The new International Cocoa Agreement was successfully negotiated in June. Fifty-three countries attended this year’s UN Cocoa Conference in Geneva.

The agreement takes effect in 2012, and will last for ten years. It is the seventh International Cocoa Agreement. It will bring improvements to the cocoa industry and ensure better prices for small-scale cocoa farmers.

According to the International Cocoa Organization, the official body that administers the agreement, the accord introduces some major innovations. For example, it recognizes the need to secure fair cocoa prices for both producers and consumers. Data from private and public sources will be collected, processed and shared to enhance market transparency. The agreement will also strengthen cooperation between exporting and importing countries, civil society and the private sector.

Guy-Alain Emmanuel Gauze is Ivory Coast’s ambassador to the United Nations (UN) in Geneva and president of the UN Cocoa Conference. He regards the new agreement as “objective and balanced.” He believes it puts measures in place to achieve fair prices for all parties involved.

Ghanaian officials express similar sentiments: “I am happy and satisfied,” said Anthony Nyame-Baafi, minister/counsellor at the permanent mission of Ghana to the UN in Geneva. “The concerns of producing countries have been taken into consideration. And, very importantly, it enhances market transparency.”

The final text of the International Cocoa Agreement 2010 can be downloaded from this page in English, French, Spanish or Russian: http://www.icco.org/about/press2.aspx?Id=u2111634.

Download the full press release from ICCO here: http://www.icco.org/Press%20Release%20-%20United%20Nations%20Cocoa%20Conference%20_2_JUNE2010.pdf.