At the World Cotton Day 2024 opening ceremony in Cotonou, Benin, on 7 October, WTO Director-General Ngozi Okonjo-Iweala highlighted the WTO's progress in supporting the cotton sector.
She praised Benin for hosting the event and emphasized Africa’s growing cotton investment opportunities.
“I hope this World Cotton Day serves as a platform to coordinate our efforts to improve the conditions for cotton farmers and supports transformation of the sector, focusing on sustainable development and maximizing gains in growth, jobs and opportunities,” she said.
Held on African soil for the first time, this year’s World Cotton Day showcased Benin’s economic successes under the leadership of President Guillaume Athanase Talon, said Director-General Okonjo-Iweala.
She praised Benin for its strong economic performance and the prudent management of its economy.
The Director-General emphasized the importance of cotton to the economies of West and Central Africa, particularly Benin, Burkina Faso, Chad, Mali and Côte d'Ivoire — collectively known as the Cotton4+ countries. As the largest cotton-producing region in Africa, these countries produce over 1 million tons of cotton annually, accounting for 50% of Africa's total output and 4% of global production.
In terms of cotton trade, West and Central Africa ranks as the third-largest exporter after the United States and Brazil, contributing significantly to global trade, which has grown from USD 8.2 billion in 2003 to USD 23 billion in 2022, she noted.
Despite the high quality and environmentally friendly nature of African cotton, the sector faces significant challenges, from market distortions to climate change, DG Okonjo-Iweala said. She noted that 20 years ago, the Cotton4 countries made a call for action at the WTO against unfair trade practices in cotton. This led to cotton gaining a unique status within the WTO, with members regularly meeting to address both the trade and development aspects of the sector.
Regarding cotton trade, the Director-General emphasized the importance of levelling the playing field by reducing subsidies, which currently amount to USD 8 billion, to allow developing countries greater market access and enable them to benefit more from trade. She noted that WTO members have worked hard and will continue advancing negotiations to achieve this goal.
On the development front, she highlighted the significant progress made in supporting Cotton4 countries in enhancing their competitiveness and tapping into the vast potential of cotton markets, both in Africa and globally. "The African market for cotton alone is worth USD 12 billion. We are also exploring external opportunities, including the sports apparel value chain, which is expected to reach USD 250 billion by 2026," she added.
