The Aid by Trade Foundation has signed a Memorandum of Understanding (MOU) with the International Cotton Association (ICA). This joint statement will help strengthen cooperation between the two organizations and lays the groundwork for regular exchanges and the definition of common goals. These include promoting ethical business practices and contract compliance among partners in the global cotton and textile supply chain, as well as information sharing and dissemination.
ICA President Alex Hsu states, “I am very happy that we are growing our list of alliances. Along with our existing MOUs, these latest additions will go a long way in making trading safer, strengthening the relationships between organisations with increased communication and collaboration.”
Tina Stridde, Executive Director of the Aid by Trade Foundation adds, “Ethical business practices have a direct impact on sustainability, as non-performance of contracts affects the smooth functioning of global value chains. The agreement with ICA will help strengthen reliable relationships and safeguard the inviolability of contracts.