UNIDO x WTO
The United Nations Industrial Development Organisation (UNIDO) and the World Trade Organisation (WTO) have partnered to strategize raising $12 billion for sustainable cotton production in Africa. This effort targets resources for the textile and cotton industries in developing nations, particularly the Cotton Four (C4) countries—Benin, Chad, Burkina Faso, Mali—and Côte d’Ivoire.
A significant milestone in this initiative was the signing of a joint declaration aimed at mobilizing investment financing. This joint effort includes UNIDO, WTO, ITC, Afreximbank, and financial institutions such as the Africa Finance Corporation (AFC) and the International Islamic Trade Finance Corporation (ITFC). This marks a vital step towards meeting the investment requirements outlined in the amended Cotton Roadmap Initiative.
UNIDO Director General Gerd Müller emphasized, “Our combined aim is to encourage fair and sustainable local cotton processing to promote decent jobs and economic development in the region. UNIDO is devoted to leveraging our knowledge to improve local value addition in the cotton sector and support the growth of a comprehensive and sustainable textile industry.”
WTO Director-General Ngozi Okonjo-Iweala added, “West Africa is on the edge of a historic chance in the cotton and textile sector. We are working closely with UNIDO, ITC, and other partners to help the Cotton Four countries in expanding their cotton value chains.”
The participation of financial institutions is crucial to improving access to energy, infrastructure projects, skills development, trade facilitation, and unlocking investment opportunities vital for promoting the cotton-to-textile/apparel value chain in West and Central Africa.
YKK continues to make strides toward its sustainability and climate neutrality targets with impressive progress reported in 2024.
Better Cotton has taken a significant step toward promoting sustainable cotton practices by signing a strategic roadmap with Uzbekistan's Ministry…
The Cellulose Fibres Conference is set to make a significant return with an expanded agenda aimed at fostering a circular…
Triarchy has teamed up with supermodel and climate advocate Amber Valletta to promote its exclusive Plastic-Free Stretch Denim collection.
To combat cracking, researchers have discovered an innovative solution that repurposes waste carpet fibers into concrete, significantly reducing cracking risks.
This week in Germany, the denim giant, Levi's, introduced the Levi’s Jeans Fit Guide, an innovative voice-driven tool powered by…