In a joint venture between the International Cotton Association (ICA), Beijing Cotton Outlook Consulting (BCO) and Zhangjiagang Cotton Association (ZCA), the three-day-seminar took place from 20-22 September 2011. Developed specifically for the Chinese cotton community, the training focused on key areas currently impacting on China’s international cotton trade and the global cotton market.
Speaking after the event, on behalf of the joint venture group, Dr Robert Jiang, ICA’s China Business Development Officer, said: “The response to this first ‘China International Cotton Trade Training Course’ has been very encouraging. We originally targeted for 100 delegates to attend, but we were overwhelmed by the response. In the end, we had to limit the number to 150, which helped to maintain the integrity of the course and created a good atmosphere within the class.”
Each training module was conducted in Chinese and delivered by a leading industry expert. Session one focused on cotton growing and production, trading data and trends plus textile industry requirements. Session two covered trading with various countries, futures and options and creating contracts.
Session three incorporated cotton classing, HVI testing, controlling, banking and insurance. A final session looked at the ICA trading rules and arbitration process. In addition, there was a visit to Zhangjiagang’s CIQ laboratory, its Raw Materials Market, free port zone and cotton warehouses to see the latest development in cotton testing, trading and logistics.
Throughout the three days, the delegates were actively involved in discussions and question and answer sessions, which created an interactive atmosphere and an opportunity to exchange ideas as well as gaining knowledge.
Robert concluded: “The feedback from the delegates has been very positive. Good presentations, a receptive audience and interactive discussions all contributed to an unforgettable experience. We definitely plan to hold another training event in China in the not too distant future to fulfil the demand from the cotton industry.”