The year 2022 marks the third year anniversary of World Cotton Day. Let’s have a look at the history of this day to understand the economic role of Cotton and the need to commemorate it more profoundly.
History of World Cotton Day
Keeping in consideration the goals for Sustainable Development established by United Nations (UN), World Trade Organization (WTO) along with a few other organizations, took the plunge to take responsible steps for the matter. In order to facilitate and encourage the production of cotton by-products, the organizations decided to provide assistance to the 4 countries that are the major economic producers. These include Benin, Burkina Faso, Chad, and Mali. Along with these, certain African countries are also facilitated to keep producing cotton by-products.
Thus, on the appeal of these countries to the WTO, the first-ever World Cotton Day was commemorated in Geneva on October 7th, 2022. The event was attended by 800 participants belonging to diverse professions including Ministers, Scientists, Researchers, etc.
Significance of Cotton
Cotton is produced in more than 75 countries belonging to five different continents. Essentially, it means that it allows a lot of job production in third-world countries as well. Thus, cotton production has a great role in maintaining economic stability in such countries. Celebrating this day highlights this in the world. Thus, providing awareness to the world and helping, these countries in gaining profits through every step in the value chain.
It is interesting to know that for a ton production of cotton, there are 5 people who get employed for the whole year. Another thing that is fascinating is that cotton is not only used for fabric production but also in food production. These food products include Edible Oils and Animals Feed.
Furthermore, Cotton is a material that is also environment friendly as it biodegrades far more quickly than other synthetic materials. Thus, it is the best choice to help with Climate Change as well.
Theme for 2022
The theme for celebrating the day this year is, “Weaving a better future for Cotton.” Since cotton is not just a fabric in our wardrobes, it is also the most preferred choice of all. It is breathable, most comfortable, and a better choice for people with several allergies especially skin related.
Additionally, there are a lot of discussions related to the topic to make its production more common. This year, these topics included Women in Cotton Production, Sustainability, Brand and Retail Partnerships, etc.
Significance of Cotton Industry in Pakistan’s Economic Future
Pakistan is known to be Asia’s 8th largest Cotton Producer in the world. The economy of the country relies majorly on this production and is responsible for almost half of the country’s manufacturing economy. Collectively, about 11% of the total GDP while 60% of export receipts of the country comes from the cotton production as well.
However, the industry like many others, keep on facing crisis based on the economy of Pakistan. Adding to the crisis, the fluctuation in prices around the world and rapidly increasing competition, are making it hard for the industry to sustain itself. Furthermore, the current Flood and Economic situation of the country has further created obstacles in the way of progression. Major investors like Khaadi, Orient, Kohinoor Mills, Sapphire, HSY, and many more continue to strive in the cause for the country.
Conclusively, it can be said that there is a lot of potential in the field that can be explored and used in future. But to do this, initiatives like World Cotton Day may play an immense role as it spreads the awareness to general public through out the world about the importance of the matter. Other factors like economy of Pakistan and inflation are some of the factors that cannot be controlled but can be fought if everyone comes together.
So, let us all join hands to support the Cotton Production!