Central African countries increase cotton textile industry production
According to comprehensive media reports, the Economic Community of Central African States (CEEAC) “Cotton-Textile-Clothing Industry Revitalization Strategy Seminar” recently opened in Douala, Cameroon. The cotton-producing countries of the Community, the European Union, etc. participated in this event. Due to the recent decline in cotton prices in the international market and the subsidies provided by developed countries to cotton producers, cotton production in Central Africa has encountered a certain crisis, and cotton output has dropped significantly. In this context, Central African countries urgently need to revitalize the cotton-textile-garment industry, vigorously develop cotton planting, improve cotton quality, process cotton on-site to create more jobs, and at the same time increase the market share of cotton in sub-regional and international markets. competitiveness.
In order to implement the EU-Africa Cotton Industry Cooperation Agreement signed in Paris in 2004, the EU has invested a total of 45 million euros in African countries in recent years within the framework of its agricultural product development planning, of which nearly 1/3 has been used to develop the cotton industry. In Central Africa, because the land in Central Africa is fertile and suitable for cotton cultivation, the cotton produced is of high quality and has certain comparative advantages in terms of production costs. In addition, cotton production accounts for 31% of the GDP of the Economic Community of Central African States, and cotton exports account for 9% of total exports. The agricultural product development plan was launched in 2008. The EU has approved an investment of 3.75 million euros, of which 625,000 euros are for the cotton industry.
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