Geneva, 28 September 2022 (TDI): The FIFA and the WTO have signed the MOU and have exchanged their views collaboratively on their respective agendas. They have agreed to prepare a common strategy for the common shared areas with mutual interest.
Today @FIFAcom & @wto signed an MOU to translate football’s $268 bil economy into an instrument to help Africa’s Cotton growing four (plus) Benin, Burkina Faso, Chad, Niger, Côte d’Ivoire become part of sportswear global value chains! W/FIFA President Infantino @wto Public Forum. pic.twitter.com/mPZxdIQEOY
— Ngozi Okonjo-Iweala (@NOIweala) September 27, 2022
About the MOU
The FIFA and WTO will enhance the opportunity for the least developed countries of cotton producers and Cotton 4 (C4: Chad, Mali, Burkina Faso, and Benin) in the global value chain.
Both organizations have agreed on working on uplifting the C4 countries. They will be helping them to engage in the value chain of cotton. The WTO Director-General Ngozi Okonjo-Iweala has expressed her feelings of happiness to collaborate with FIFA.
She further expressed that football would unveil the potential growth of global economics. Moreover, it will also help in gender empowerment she urges to help the women through sports economy.
In addition, FIFA president Gianni Infantino has said that the football economy is redistributing its total revenue of $268 billion in its 211 member states. It will help them in advancing their football by investing in facilities, infrastructure, tournaments, and competitions.
Also read: WTO and GCA heads sign Memorandum of understanding
He further said that the global football economy will help the youth in the developing world through this partnership signed between WTO and FIFA. The Republic of Chad ambassador Ahmed Makaila on behalf of cotton-producing countries and C4 has welcomed this emerging initiative that has been signed between the two FIFA and WTO.
This MOU will remain active until the 31st of December 2027. It will research on different economic dimensions of football and will exchange expertise through seminars webinars conferences, and meetings.
This MOU will work on inclusive and sustainable trade. It is a part of the WTO public forum this year under the theme of “Towards a sustainable and inclusive recovery: an ambition to action”.
