The United States has signed a Memorandum of Understanding with the Government of Brazil establishing a fund for technical assistance and capacity building related to the cotton sector in Brazil. Under the MOU, the fund may also be used for activities related to international cooperation in the cotton sector in countries in sub-Saharan Africa, in Mercosur member and associate member members, in Haiti, or any other developing countries as the parties may agree upon.
This agreement is the next step forward in the Cotton dispute agreement reached earlier this month. With its conclusion of this agreement, Brazil has announced that countermeasures will not be imposed in the Cotton dispute for at least 60 days. The fund is scheduled to continue until the next Farm Bill or a mutually agreed solution to the Cotton dispute is reached. The MOU also provides that the United States also may end the fund if Brazil imposes countermeasures.
During the next 60 days, the United States and Brazil will continue negotiating a framework for reaching a mutually agreed solution to resolve the Cotton dispute.
Powered by iNet Solutions Group ©2011 All Rights Reserved.