Cotton is a valuable crop grown in many countries around the world and traded internationally. World Cotton Day, observed on October 7 each year, emphasises cotton’s importance in generating jobs and supporting economies, especially in less developed countries. The day’s celebrations promote fair trade and help developing nations engage in all aspects of the cotton industry to improve their economies.
History of World Cotton Day
The first World Cotton Day was suggested by the World Trade Organization (WTO) on October 7, 2019, with support from Benin, Burkina Faso, Chad, and Mali, known as the Cotton Four or C4 countries. The WTO approved the proposal of the C4 countries to create World Cotton Day.
Collaborating with the United Nations Conference on Trade and Development (UNCTAD), the International Cotton Advisory Committee, and the United Nations Food and Agriculture Organization (FAO), the WTO organised the event through UNCTAD.
Since then, World Cotton Day has been observed every October 7.
On the first World Cotton Day, more than 800 attendees, including ministers, officials and representatives from international organisations, gathered at the WTO headquarters. This diverse group included delegates from Geneva, members of the global cotton community such as growers’ associations, traders, inspection service providers, development partners, retailers, scientists, brand representatives, and private sector members. The event provided a vital opportunity for participants to showcase cotton-related activities and products, share expertise and strengthen collaboration within the global cotton industry.
Significance of World Cotton Day
World Cotton Day holds immense significance due to several reasons:
The theme of World Cotton Day 2023
The theme for World Cotton Day 2023 is ‘Making cotton fair and sustainable for all, from farm to fashion’. This theme, promoted by UNIDO, aims to unite stakeholders and raise awareness about the cotton sector’s vital role in economic growth, agricultural development, trade, and poverty reduction. It emphasises the need for sustained economic growth, inclusive industrial development and decent work opportunities for everyone.
(Edited by : Sudarsanan Mani)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
BJP is planning to ban RSS, says Shiv Sena (UBT) chief Uddhav Thackeray
May 18, 2024 8:01 PM
Punjab Lok Sabha elections: Complete list of Congress candidates
May 18, 2024 4:08 PM
Punjab Lok Sabha elections: Check full list of AAP candidates and constituencies
May 18, 2024 12:59 PM
PM Modi, Rahul Gandhi election rallies in Delhi today: Here are the routes to avoid
May 18, 2024 11:28 AM