The U.S. & China: The Twain Meets

On November 7th, Yao Ming and his Houston Rockets came to Memphis and vanquished the hometown Grizzlies, 86-80.

Less than a week later — November 13th, to be exact — a trade delegation from Yao’s home country of China came to Memphis and treated the hometown cotton organizations much more hospitably.

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The National Cotton Council of America (NCC) and the China Cotton Association (CCA) signed a “Memorandum of Understanding” (MOU) that day, promising cooperation between the countries’ cotton industries. Representatives from Cotton Council International (CCI) were also present.

Representing the organizations were NCC chairman Allen Helms, CCA Secretary General Gao Fang and CCI chairman Gary Taylor. Helms is a Clarkdale, AR, farmer; Taylor is a Memphis cotton merchant.

The historic signing ceremony took place at the Memphis Cotton Museum in the equally historic Memphis Cotton Exchange building on Cotton Row in downtown Memphis. To say cotton is king in this section of town is quite the understatement.

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“This memorandum signals a spirit of cooperation and goodwill,” Helms said. “We look forward to a successful future of mutually beneficial trade and increased cooperation among the U.S. and Chinese cotton industries.”

China is the giant — the very dominant giant — in the global cotton and textile markets today, as the world’s largest cotton importer, largest raw-cotton mill-level consumer, as well as the largest cotton producer.

“Cotton trade with China is very healthy today as the United States exported 8.6 million bales — or about 36% of its crop — to China in the past 12 months,” said Helms. “This MOU is significant for the U.S. cotton industry as it seeks to build not only on that current momentum but on its long-time relationship with China.”

Helms said working through the NCC, the U.S. cotton industry has made substantial strides in fortifying its infrastructure to accommodate the current extraordinary volume of U.S. raw cotton export trade.

“The industry also has renewed its commitment to protect and enhance U.S. cotton’s reputation for producing high-quality cotton, delivering it in a timely manner and honoring contracts,” he said.

Helms said CCI will continue to play a key role in expanding export demand for U.S. cotton in the coming year, including even greater activity in China than in 2006. Among CCI’s major endeavors in China this past year were:
• Established a CCI office in Shanghai.
• Launched, with help from U.S. exporters, the China Cotton Schools, which helped representatives from 145 Chinese cotton importing companies get a better grasp of the international cotton market’s complexities.
• Teamed with Cotton Incorporated to conduct “Cotton – Beyond Your Imagination”, a major promotion initiative targeting consumers in China’s major urban areas.
• And hosted, along with Cotton Incorporated, the 10th annual Cotton Days, which highlighted the true value of cotton through COTTON USA consumer events in China and other key Asian markets.

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