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Ghana, Cote d'Ivoire sign agreement on cocoa

Ghana and Cote d’Ivoire on Monday signed onto the Abidjan Declaration", an agreement to address the challenges of the cocoa sector.

 

The agreement, which is within the framework of the implementation of the Strategic Partnership Agreement that links the two countries, was signed by both President Nana Addo Dankwa Akufo-Addo and the Ivorian leader Alassane Ouattara after extensive consultations on the Cocoa economy in Abidjan.

 

Ghana and Cote d'Ivoire produce 60 percent of the world’s cocoa output. But fluctuations of cocoa prices on the international market, marked by a fall of around 20 percent in 2017, have impacted negatively on the revenues of millions of cocoa farmers, as well as on the budgetary revenues of the two countries.

 

A communique read by Trade and Industry Minister Alan Kyerematen, who accompanied President Akufo-Addo to the bilateral discussions, stated that the Declaration was aimed at “better defending the interests of cocoa producers, as well as the economies of both countries.”

 

To this end, President Akufo-Addo and President Alassane Ouattara have reaffirmed their commitment to define a better, common strategy and a sustainable solution for the improvement of prices for cocoa producers, in their respective countries.

 

They also committed themselves to harmonising their cocoa marketing policies, and agreed to announce, every year, in a concomitant manner, and before the beginning of the campaign, the price to cocoa producers.

 

Additionally, Ghana and Cote d’Ivoire have agreed to intensify collaboration, in the field of scientific research for the production of cocoa plants, the improvement of plant varieties, and also to adopt and implement a regional programme to fight against the swollen shoot disease.

 

A commitment by the two countries to process a major part of cocoa, and the invitation of the private sector, notably the African private sector, to invest massively in cocoa processing in Africa, was also reached. 

 

In concluding, President Akufo-Addo and President Alassane Ouattara reaffirmed their commitment to promoting jointly the consumption of cocoa on local, regional and emerging markets, and agreed that consultation between Ghana and Cote d’Ivoire, on the management of their cocoa sectors, should be done on a regular basis.

 

 

Source: GNA