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The Committee is the outgrowth of an International Cotton Meeting
held in Washington, in September 1939. At that time, world stocks
of cotton had reached nearly 25 million bales, of which over half
were located in the United States.
The following ten producing countries convened in Washington,
D.C., in September 1939: Brazil, British cotton exporting colonies,
Egypt, French cotton exporting colonies, India, Mexico, Peru, Sudan,
the USSR, and the United States, to discuss problems of over-production,
rising stocks and falling prices. The principal objective was to
take concerted international action to avoid chaotic developments
in the world cotton economy.
The following resolution was passed:
That an advisory committee be set up in Washington representing
the countries participating in the present conference, and including
in addition representatives of other important cotton growing and
exporting nations; such committee to undertake the following function:
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To observe and keep in close touch with developments in the
world cotton situation.
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To suggest, as and when advisable, to the Governments represented
any measures the committee considers suitable and practicable
for the achievement of ultimate collaboration.
The ICAC met for the first time in Washington, D.C. in April 1940.
At first, membership was limited to cotton producing countries.
After the fourth meeting, an invitation to join the Committee was
extended to all other United and Associated Nations substantially
interested in the production, export or import of cotton.
At the fifth Meeting in May 1946, it was decided to establish
a Secretariat and a governing Executive Committee consisting of
representatives from six cotton producing and six cotton consuming
countries. A beginning was also made with the statistical and economic
information program, which became an intrinsic part of the Committee's
work. Subsequently, in 1948, it was agreed to replace the original
Executive Committee with a Standing Committee in which all countries
would have a voice.
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