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Business News of Wednesday, 12 September 2018

Source: Myjoyonline.com

Ghana, Cote d’Ivoire cement cooperation agreement on cocoa

Ghana and Ivory Coast have agreed on an implementation plan to concretise the Abidjan Declaration, which seeks to address challenges in cocoa production within the framework of the Strategic Partnership Agreement.

The Strategic Partnership Agreement binds the two countries in even closer intimacy and demands that they work together to enhance their chances of attaining progress and prosperity.

The Abidjan Declaration – which is devoted to the cocoa economy – seeks to pursue a common strategy and a sustainable solution for the improvement of prices for cocoa producers in the two countries.

At a meeting in Accra from on September 10 and 11, 2018 Ghana and Ivory Coast adopted a comprehensive implementation plan and concretised details of the specific actions for achieving this vision.

At the end of the meeting on Tuesday, the two countries, among other things, agreed to conduct a study to determine the floor price of cocoa; constituted a joint committee for the promotion of cocoa consumption in both countries and across the West African sub-region; agreed to work further towards the adoption of strategies for the implementation of ISO Sustainable and Traceable Cocoa Standard.

The two countries are responsible for 60% of the world’s cocoa output.

Fluctuations of cocoa prices on the international market, marked by a fall of around 20% in 2017, have impacted negatively on the revenues of millions of cocoa farmers, as well as on the budgetary revenues of the two countries.

Ghana and Ivory Coast resolved after the meeting on Tuesday to have a concurrent opening of cocoa season and announcement of producer prices.

On Production and Research, the two neighbouring countries agreed to forge closer collaboration between Cocoa Research Institute of Ghana (CRIG), and National Centre of Agronomic Research (CNRA) in Cote d’Ivoire; agreed to work together towards the adoption of good practices for adaptation and mitigation of the adverse effects of climate change based on experiences of the two countries.

They also agreed on key issues for a national strategy for restoring and preserving cocoa landscapes and adopted a common approach to the coordination of private sector initiatives.

Ghana and Ivory Coast also agreed to continue the cutting of Cocoa Swollen Shoot Virus infected trees in our respective countries, collect data that link cocoa farmers to their farms and collaborate in the fight against worst forms of child labour.

A Draft Charter and Administrative Rules to guide the governance and operations of the Ghana-Cote d’Ivoire Co-operation were also adopted.