Although cotton is crucial to industrialized economies, it also serves as a safety net for less developed and developing nations. Many rural smallholders and laborers, especially women, rely heavily on cotton for their livelihoods and incomes. Some of the poorest rural communities in the world benefit from this employment and revenue.
The United Nations hopes to increase the cotton industry's visibility and understand its crucial role in economic development, global trade, and poverty alleviation on this second official UN World Cotton Day. The celebration strives to emphasize the value of full and productive employment, sustained, inclusive, sustainable economic growth, and decent work for all on 7th October 2022.
World Cotton Day was created in 2019 when the Cotton Four, a group of four sub-Saharan African cotton growers, suggested that October 7 be designated as World Cotton Day by the World Trade Organization.
The date provided a chance to spread knowledge and highlight cotton-related activities for two years.
In addition, more enormous expenditures are required to develop the sector beyond raw cotton production and generate new revenue streams.
Over many years, UN organizations have worked on this mission. For instance, the World Trade Organization (WTO) and the International Trade Centre (ITC) have aided C-4 in optimizing output, enhancing local processing capacity.
Discussing trade reforms necessary to alleviate high trade barriers and disparities for cotton growers in developing nations.