Tip of the Quill: A Journal
The Law And Organisation Of International Commodity Agreements

Intergovernmental cooperation between producers and consumers of raw materials takes the form of International Raw Materials Agreements (IIAs) and International Study Groups (ISIs). The International Tropical Timber Agreement (ITTA) is often referred to as a “hybrid” agreement because it combines a traditional trade agreement on raw materials with goals involving sustainable tropical forest management. ITTA founded the International Tropical Timber Organization (ITTO), an intergovernmental organization with 59 members that together accounts for about 80% of the world`s tropical forests and 90% of the annual tropical timber trade. ITTO promotes market transparency through the collection, analysis and dissemination of data on tropical timber production and trade; contributes to the development, financing and implementation of projects and other capacity-building activities for the sustainable management and use of tropical forests; and facilitates intergovernmental consultation and international cooperation on issues related to trade and exploitation of tropical timber and the sustainable management of its resources. The possibilities offered by product agreements are rather limited, since the technical and economic characteristics of many products and the nature of trade with them preclude the judicious application of international product agreements. HARRY G. JOHNSON The current mandate and objective of UNCTAD`s work in this area is to cooperate with THE ICC, FAO and CFC, assisting them in making the request and also benefiting from their specific expertise on raw materials, both in the provision of information on raw materials and analytical work. An international agreement on raw materials is a commitment by a group of countries to stabilize trade, supply and prices of a commodity in favour of participating countries. An agreement usually contains a consensus on traded volumes, prices and inventory management. A number of international agreements on raw materials serve exclusively as forums for information exchange, analysis and political debate.

International Commodity Bodies (ICBs) is an independent and autonomous legal personality, with its respective functions, rules of procedure and the Board of Directors as the supreme authority. The provisions of ICIs and ISIs are managed by the relevant international commodity organisations. Given that most of the HKA and ISF were established as a result of the UN Raw Materials Conferences, organized and maintained by UNCTAD, an important area of work in this area is to convene and serve UN conferences and negotiation-related meetings, the renegotiation or operation of new agreements. UNCTAD has observer status with all ICTIs. The USTR leads U.S. participation in two commodity trade agreements: the International Tropical Timber Agreement and the International Coffee Agreement (ICA). Both agreements create intergovernmental organizations with government councils. International Economic Institutions Pp. 146-164 | The United States has completed recent efforts to renegotiate the ICA and the text of the Seventh International Coffee Agreement (ICA 2007) was adopted by the International Coffee Council on September 28, 2007. The new ICA aims to strengthen the OIC`s role as a forum for government consultation, increase its contribution to meaningful market information and market transparency, and ensure that the organization plays a unique role in developing innovative and effective capabilities in the coffee sector. Among the features of the new agreement is a first “Consultative Forum on Coffee Sector Finance” to promote the development and dissemination of innovation and best practices that can enable coffee producers to better manage the financial aspects of the inherent volatility and risks associated with competitive and developing markets. .

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