Ghana, Cote d'Ivoire Sign Cocoa Deal

By Times Reporter

President Nana Addo Dankwa Akufo-Addo and the President of Cote d'Ivoire, Alassane Ouattara, have signed a strategic partnership agreement with the aim to defend the interest of the two countries in the global cocoa industry.

Known as the "Abidjan Declaration", the agreement also seeks to address the common challenges cocoa producers from both Ghana and Cote d'Ivoire face.

With the two countries responsible for 60 per cent of the world's cocoa output, fluctuations of cocoa prices on the international market, marked by a fall of around 20 per cent in 2017, have impacted negatively on the revenues of millions of cocoa farmers, as well as on the budgetary revenues of the two countries.

Reading out the communiqué, the Minister for Trade and Industry, Alan Kyerematen, who accompanied President Akufo-Addo to the bilateral discussion, stated that the declaration is 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 also 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.

Concluding, President Akufo-Addo and President Alassane Ouattara reaffirmed their commitment to jointly promote 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.

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