On a recent visit to Karachi, Pakistan, the International Cotton Association (ICA) delivered its two new training workshops to 66 local cotton professionals.
‘Agent Training’ and ‘Cotton Contracting and ICA Bylaws & Rules’ were day-long, interactive courses that took place on 5 and 6 September at Karachi’s Sheraton Hotel. The workshops were delivered by Kai Hughes (ICA Managing Director) and Derek Tanner (DAT Arbitration & Consultancy).
Shahla Salah from Fund Marketing International was one of the delegates to benefit from the training: “Having participated in the ‘Contracting and Bylaws & Rules’ workshop, I have acquired the correct tools for trading using the ICA Bylaws & Rules, which is very beneficial for secure trading and managing and mitigating the latent risk. Thanks to the ICA for organising such an informative workshop.”
Launched in 2012, the ‘Agent Training’ course has already been successfully delivered in Brazil, Bangladesh and South East Asia. It focuses on the responsibilities of agents/brokers under a cotton contract and is designed to promote good trading practice. ‘Cotton Contracting and ICA Bylaws & Rules’ is a new course that focuses on the obligations, timelines and the roles cotton parties play under a raw cotton contract. Both workshops focus on the application of the ICA Bylaws & Rules and their aim is to promote safe trading.
Speaking after the training, Kai Hughes, ICA Managing Director said: “Pakistan is a major player in the cotton supply chain. It is vital that its cotton community has a good working knowledge of the ICA Bylaws & Rules and understands the responsibilities and roles of the principals and the agents/brokers under a cotton contract. We are confident that this training will put the delegates in a much better position and will contribute greatly towards creating a safer trading environment.”
