Mirza Salman Ispahani, chairman of MM Ispahani Ltd, has been elected as president of International Cotton Association for 2017-2018, said a news release.
This is the first time that any spinner/ buyer has been elected as the president of ICA.
The election was held on October 13 in Singapore.
The ICA was formed over 175 years ago in 1841 in Liverpool, UK, when a group of cotton brokers created a set of bylaws and rules to help regulate the sale and purchase of raw cotton.
About 90 per cent of world’s cotton is traded internationally under ICA Bylaws & Rules. The ICA now has more than 550 members and its membership spans all corners of the globe and represents all sectors of the supply chain.
The ICA operates on a not-for-profit basis and, in addition to its Bylaws & Rules; it offers a range of services – arbitration, training, trade and networking events, plus cotton testing and research via ICA Bremen.
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