%20(500%20%C3%97%20280%20px)%20(500%20x%20300%20px)%20(23).png "India-Australia Signed MoU to Boost Bilateral Cotton Trade")
Aim of the MoU:
a) To enhance cooperation in cotton production and trade
b) To increase cotton prices globally
c) To reduce cotton production in Australia
d) To ban the import of cotton
- Enhance cooperation in cotton production and trade.
- Share insights on global market trends and pricing strategies.
- Facilitate a smoother exchange of ideas and expertise between the two nations.
- Australia-India Economic Cooperation Agreement: The deal capitalizes on this agreement, ensuring duty-free access for 51,000 tonnes of Australian cotton annually into India.
- Strengthened Market Access: It promotes mutual support between Indian and Australian cotton industries, helping them compete effectively in global markets.
- Focus Areas: The partnership includes efforts to modernize cotton farming practices and improve the trade ecosystem.
Question:
Q.1 What is one of the primary aims of the MoU signed between the Cotton Association of India and the Australian Cotton Shippers Association?a) To enhance cooperation in cotton production and trade
b) To increase cotton prices globally
c) To reduce cotton production in Australia
d) To ban the import of cotton
Answer: a) The MoU aims to enhance cooperation in cotton production and trade between India and Australia, facilitating better collaboration in the industry.
