DHAKA (Commodity Online): International Cotton Association (ICA) has launched a brand new 2 day training programme especially for agents in partnership with the Bangladesh Cotton Association (BCA) and supported by the Bangladesh Textile Mills Association (BTMA) in Dhaka.
In the training programme focused on the responsibilities of the agent under a cotton contract, looking at the behaviour of the cotton market, the application of ICA Bylaws & Rules and promoting good trading practice.
More than 40 local agents took part in the two day, interactive session.
In addition to the training, the ICA will be launching a dedicated membership category for agents later this year. Antonio adds: “The ICA's major guiding principle is the fulfillment of contracts. One way we aim to promote this principle is by expanding our membership. As ICA members, agents will be expected to uphold the ICA’s principles and defer from doing business with any parties that have failed to honour a contract and are listed on the default list. Members that do not fulfil their contractual obligations, face being expelled from the Association. We want to create a safe trading environment and we believe that enabling agents to become ICA members will take us a step closer.”
Further training is planned to take place in July in Sao Paulo, Brazil. All agents attending the training can apply for certification and their companies will be eligible to become ICA members.
