With a view to strengthening the global cocoa sector, promoting its sustainable development and increasing the benefits to all stakeholders, the objectives of the Seventh International Cocoa Agreement are as follows:

(a)

Promote international cooperation in the global cocoa economy;

(b)

Provide an appropriate framework for the discussion of all cocoa issues between governments, and with the private sector;

(c)

Contribute to the strengthening of the national cocoa economy of the Member countries through the development, development and evaluation of appropriate projects to be submitted to the competent institutions for their financing and implementation, and Seeking funds for projects benefiting Members and the world cocoa economy;

(d)

Strive to achieve fair prices that generate fair returns for producers and consumers within the cocoa value chain, and contribute to a balanced development of the world cocoa economy in the interests of all Members;

(e)

Promote a sustainable economic, social and environmental economy;

(f)

To encourage research and the application of its results through the promotion of training and information programmes enabling the transfer of cocoa-adapted technologies to Members;

(g)

Promote the transparency of the world cocoa economy, and in particular the cocoa trade, through the collection, analysis and dissemination of relevant statistics and the completion of appropriate studies, as well as promoting the elimination of Barriers to trade;

(h)

Promote and encourage the consumption of chocolate and cocoa products, in order to increase demand for cocoa, in particular by promoting the virtues of cocoa, including the health benefits, in close cooperation with the sector Private;

(i)

Encourage Members to promote the quality of cocoa and develop appropriate food safety procedures in the cocoa sector;

(j)

Encourage Members to develop and implement strategies to strengthen the capacity of local communities and small producers to benefit from cocoa production, thereby contributing to poverty reduction;

(k)

Facilitate the availability of information on financial instruments and services available to cocoa producers, including access to credit and risk management methods.

For the purposes of this Agreement:

1.

The term Cocoa Refers to cocoa beans and cocoa products.

2.

The expression End cocoa ( "Fine" or "flavour" ) Means cocoa whose flavor and colour are deemed to be exceptional and produced in the countries listed in Annex C to this Agreement.

3.

The expression Cocoa-derived products Refers to products made exclusively from cocoa beans, such as cocoa paste/liquor, cocoa butter, cocoa powder without the addition of sugar, cake and kernels decorated.

4.

Chocolate and chocolate products Are the products made from cocoa beans in accordance with the standard of Codex Alimentarius Chocolate and chocolate products.

5.

The expression Cocoa beans in beans Means all dry cocoa beans identified on the last day of the cocoa year (September 30) - whatever the place of storage, owner or use to which they are intended.

6.

The expression Cocoa year Refers to the 12-month period from 1 ^Er October to 30 September inclusive.

7.

The term Organization Means the International Cocoa Organization referred to in Art. 3.

8.

The term Council Designates the International Cocoa Council referred to in Art. 6.

9.

The expression Contracting Party Means a government, the European Union or an intergovernmental organization referred to in s. 4, which has agreed to be bound by this Agreement on a provisional or final basis.

10.

The term Member Means a Contracting Party as defined above.

11.

The expression Importing country Or Importer Member Refers to a country or a Member whose cocoa imports converted to cocoa equivalent in beans exceed exports.

12.

The expression Exporting country Or an exporting member means, respectively, a country or a Member whose cocoa exports converted to cocoa equivalent in beans exceed imports. However, a cocoa-producing country whose cocoa imports, expressed in bean equivalent, exceed exports, but whose output exceeds imports or whose output exceeds its consumption of apparent domestic cocoa ¹ , may, if desired, be an exporting Member.

13.

The expression Cocoa exports Means any cocoa that leaves the customs territory of any country, and the expression Cocoa imports Means any cocoa that enters the customs territory of any country, it being understood that for the purposes of those definitions the customs territory, in the case of a Member which includes more than one customs territory, shall be deemed to cover all Customs territories of this Member.

14.

A Sustainable cocoa economy Implies an integrated value chain in which all actors develop and promote appropriate policies to achieve economically viable, environmentally sustainable levels of production, processing and consumption Rational and socially responsible, for the benefit of present and future generations, with the aim of improving productivity and profitability in the cocoa value chain for all the players concerned, in particular small producers.

15.

The Private sector Refers to all private entities whose main activities are in the cocoa sector. It includes farmers, traders, processors, manufacturers and research institutes. Within the scope of this Agreement, the private sector shall also include enterprises, organizations and public institutions, which carry out functions vested in private entities in other countries.

16.

The term indicator price shall mean the representative indicator of the international cocoa price used for the purposes of this Agreement and calculated in accordance with the provisions of Art. 33.

17.

The expression Special Drawing Rights (SDR) Means the Special Drawing Rights of the International Monetary Fund.

18.

The term Tonne Means a mass of 1000 kilograms, or 2204.6 pounds of avoirdupois, and the term book refers to the pound avoirdupois, or 453,597 grams.

19.

The expression Simple distributed majority Means the majority of the votes cast by the exporting Members and the majority of votes cast by the importing Members, counted separately.

20.

The expression Special vote Means two-thirds of the votes cast by the exporting Members and two-thirds of the votes cast by the importing Members, counted separately, provided that at least five exporters and a majority of Members Importers are present.

21.

The expression Entry into force Means, unless otherwise specified, the date on which this Agreement enters into force, on a provisional basis, or final.

1.

The International Cocoa Organization established by the International Cocoa Agreement, 1972 shall continue to exist; it shall ensure the implementation of the provisions of this Agreement and shall ensure its application.

2.

The headquarters of the Organization shall always be located in the territory of a Member State.

3.

The Organization shall have its seat in London, unless the Council decides otherwise.

4.

The Organization shall carry out its functions through:

(a)

The International Cocoa Council, which is the supreme authority of the Organization;

(b)

Subsidiary bodies of the Council, including the Administrative and Financial Committee, the Economic Committee, the World Economic Consultative Commission and any other committee established by the Council; and

(c)

Secretariat.

1.

Each Contracting Party shall be a Member of the Organization.

2.

There are two categories of Members of the Organization:

(a)

The exporting Members;

(b)

The importing Members.

3.

A Member may change the category to the conditions that the Board may establish.

4.

Two or more Contracting Parties may, by appropriate notification to the Council and the depositary, which shall take effect on the date specified by the Contracting Parties concerned and on the terms agreed by the Council, declare that they Participate in the Organization as a Member Group.

5.

Any reference in this Agreement to "a government" or "governments" shall also be deemed to apply to the European Union and to any intergovernmental organization having comparable responsibilities in the negotiation, conclusion and Implementation of international agreements, in particular commodity agreements. Accordingly, any mention in this Agreement of the signature, ratification, acceptance or approval, or notification of provisional application, or accession, is, in the case of those organizations Intergovernmental organizations, which shall also be deemed to be relevant for signature, ratification, acceptance or approval, or for notification of provisional application, or accession, by such intergovernmental organizations.

6.

In the event of a vote on matters within their competence, such intergovernmental organizations shall have a number of votes equal to the total number of votes allocated to their Member States in accordance with Art. 10. In such cases, Member States of such intergovernmental organizations shall not exercise their individual voting rights.

1.

The Organization shall have legal personality. In particular, it has the capacity to contract, acquire and dispose of movable and immovable property and to sue.

2.

The status, privileges and immunities of the Organization, its Executive Director, its staff and experts, as well as representatives of the Members who are on the territory of the host Government to carry out their functions, shall be Governed by the Headquarters Agreement between the Host Government and the International Cocoa Organization.

3.

The Headquarters Agreement referred to in paragraph above. 2 of this Article shall be independent of this Agreement. However, it ends:

(a)

In accordance with the provisions of the said Headquarters Agreement;

(b)

If the headquarters of the Organization is transferred outside the territory of the host government; or

(c)

If the Organization ceases to exist.

4.

The Organization may enter into agreements with one or more other Members, which shall be approved by the Council, relating to such privileges and immunities as may be necessary for the proper functioning of this Agreement.

1.

The International Cocoa Council is made up of all Members of the Organization.

2.

Each Member shall be represented at meetings of the Council by duly accredited representatives.

1.

The Council shall exercise all powers and perform or ensure that all functions necessary for the application of the express provisions of this Agreement are carried out.

2.

The Council shall not be entitled to enter into any obligation which does not fall within the scope of this Agreement, and shall not be deemed to have been authorised by the Members; in particular, it shall not be entitled to borrow money. In the exercise of its capacity to contract, the Council shall insert in its contracts the conditions of this provision and of the art. 23 so as to bring them to the knowledge of the other parties to the contracts; however, if those conditions are not inserted, the contract is not invalidated and the Council is not deemed to have exceeded the powers conferred on it.

3.

The Council shall adopt the regulations necessary for the application of the provisions of this Agreement and compatible with them, in particular its own Rules of Procedure and that of its Committees, the Financial Regulation and the Staff Rules Of the Organization. The Committee may provide, in its Rules of Procedure, a procedure enabling it to take decisions on specific matters without meeting.

4.

The Council shall maintain the records necessary for the performance of the functions conferred upon it by this Agreement and any other records it deems appropriate.

5.

The Council may establish all necessary working groups to assist it in carrying out its functions.

1.

Each year the Council elects a President and a Vice-Chair, who are not remunerated by the Organization.

2.

The President and the Vice-President are both elected from among the representatives of the exporting Members or from among the representatives of the importing Members. There is alternation, by cocoa year, between the two categories.

3.

In the event of the temporary absence of the President and Vice-President, or in the event of a permanent absence of one or both of them, the Council may elect, from among the representatives of the exporting Members or among the representatives of the Members Importers, as appropriate, of new holders of these duties, temporary or permanent, as the case may be.

4.

Neither the President nor any other member of the Bureau chairing a meeting of the Council shall take part in the vote. A member of his delegation may exercise the voting rights of the Member he represents.

1.

As a general rule, the Council meets in ordinary session once every six months of the cocoa year.

2.

The Council shall meet in extraordinary session if it so decides or is required to do so:

(a)

By five Members;

(b)

By at least two Members holding at least 200 votes;

(c)

By the Executive Director for the purposes of s. 22 and 59.

3.

Sessions of the Council shall be announced at least 30 calendar days in advance, except in emergencies, where the notice is at least 15 days.

4.

Sessions shall normally be held at the headquarters of the Organization unless the Council decides otherwise. If, on the invitation of a Member, the Council decides to meet elsewhere than at the headquarters of the Organization, that Member shall, in accordance with the administrative rules of the Organization, assume the additional costs resulting from it.

1.

The exporting Members together hold 1000 votes and the importing Members together hold 1000 votes. These votes shall be distributed within each category of Members, that is, that of the exporting Members and that of the importing Members, in accordance with the provisions of the following paragraphs of this Article.

2.

For each cocoa year, the votes of the exporting Members are divided as follows: each exporting Member has five basic votes. The remaining votes shall be distributed among all the exporting Members in proportion to the average volume of their cocoa exports during the previous three cocoa years for which data have been published by the Organization in the Last number of the Quarterly report on cocoa statistics To this end, exports are calculated by adding to net exports of cocoa beans the net exports of cocoa-derived products, converted to bean equivalent using the conversion coefficients shown in art. 34.

3.

For each cocoa year, the votes of the importing Members shall be distributed among all the importing Members in proportion to the average volume of their cocoa imports during the previous three cocoa years for which data have been Published by the Organization in the last issue of the Quarterly report on cocoa statistics To this end, imports are calculated by adding to the net imports of cocoa in beans the raw imports of cocoa products, converted into bean equivalent using the conversion coefficients shown in art. 34. No Member Country has less than five votes. Consequently, the voting rights of Member countries with a minimum number of votes shall be redistributed among the Members with a minimum number of votes.

4.

If, for any reason, difficulties arise concerning the determination or updating of the statistical basis for the calculation of votes in accordance with the provisions of s. 2 and 3 of this Article, the Council may decide to retain a different statistical basis for the calculation of votes.

5.

No Member, except those mentioned in s. 4 and 5 of Art. 4, has no more than 400 votes. The votes in excess of this figure resulting from the calculations indicated in s. 2, 3 and 4 of this Article shall be redistributed among the other Members in accordance with the provisions of those paragraphs.

6.

When the composition of the Organization changes or when the right to vote of a Member is suspended or restored pursuant to a provision of this Agreement, the Council shall redistribute the votes in accordance with this Article. The European Union or any intergovernmental organization as defined in Art. 4 shall hold votes as a single Member, in accordance with the procedure referred to in par. 2 or 3 of this article.

7.

There can be no fractionation of votes.

1.

Each Member shall have, for the vote, the number of votes it holds and no Member shall divide its votes. A Member is, however, not required to express in the same sense that its own votes are those authorized to be used under s. 2 of this article.

2.

Any exporting Member may, by written notification addressed to the President of the Council, authorize any other exporting Member, and any importing Member may authorize any other importing Member to represent its interests and use its votes to Any meeting of the Council. In this case, the limitation provided for in s. 5 of the art. 10 is not applicable.

3.

A Member authorized by another Member to use the votes that that other Member holds under s. 10 shall use those votes in accordance with the instructions received from the said Member.

1.

The Board strives to make all its decisions and to make all its recommendations by consensus. If consensus cannot be reached, the Council shall take its decisions and make its recommendations by a special vote, in accordance with the following procedures:

(a)

If the proposal does not obtain the majority required by the special vote because of the negative vote of more than three exporting Members or more than three importing Members, it is deemed to be rejected;

(b)

If the proposal does not obtain the majority required by the special vote because of the negative vote of three or fewer of three or three or fewer importing Members, it shall be given to the vote within 48 hours; and

(c)

If the proposal still does not obtain the majority required by the special vote, it shall be deemed rejected.

2.

In the counting of votes necessary for any decision or recommendation of the Council, the votes of the Members abstaining shall not be taken into consideration.

3.

Members undertake to consider themselves bound by all decisions taken by the Council in accordance with the provisions of this Agreement.

1.

The Council shall take all appropriate steps to consult or cooperate with the United Nations and its bodies, in particular the United Nations Conference on Trade and Development, and with the United Nations Of the Food and Agriculture Organization of the United Nations and other specialized agencies of the United Nations and intergovernmental organizations, as appropriate.

2.

" The Council, having regard to the special role of the United Nations Conference on Trade and Development in the International Trade in Commodities, shall, in an appropriate manner, keep this organization informed of its activities and Of its work programmes.

3.

The Council may also take all appropriate measures to maintain effective contacts with international organisations of cocoa producers, traders and manufacturers.

4.

The Council is seeking to combine its work on cocoa production and consumption policy with international financial institutions and other parties with an interest in the world cocoa economy.

5.

The Council may decide to cooperate with other competent cocoa experts.

1.

The Council may invite any non-member State to participate in its meetings as an observer.

2.

The Council may also invite any organisation referred to in Art. 13 to participate in its meetings as an observer.

3.

The Council may also invite, as observers, non-governmental organisations with the expertise required in areas of the cocoa sector.

4.

For each of its sessions, the Council shall decide on the participation of observers, including, on a case-by-case basis, non-governmental organizations with expertise in cocoa sector areas, in accordance with established conditions In the Administrative Rules of the Organization.

1.

The quorum required for the opening session of a session of the Board shall be the presence of at least five exporters and the majority of the importing Members, provided that the Members of each category thus present hold At least two-thirds of the total votes of the Members belonging to that category.

2.

If the quorum provided for in s. 1 of this Article shall not be reached on the day fixed for the opening session of the session, on the second day and during the remainder of the session, the quorum for the opening meeting shall be deemed constituted by the presence of the exporting Members and Importers with a simple majority of votes in their category.

3.

The quorum required for the meetings following the opening of a session in accordance with paragraph 1. 1 of this section is the one prescribed in subsection (1). 2 of this article.

4.

Any Member represented in accordance with par. 2 of the art. 11 is considered present.

1.

The Secretariat shall comprise the Executive Director and staff.

2.

The Council shall appoint the Executive Director for a term not exceeding that of the Agreement and its possible extensions. It sets out the rules for the selection of candidates and the conditions of engagement of the Executive Director.

3.

The Executive Director shall be the chief executive officer of the Organization and shall be responsible to the Board for the administration and operation of this Agreement in accordance with the decisions of the Board.

4.

The staff of the Organization shall be responsible to the Executive Director.

5.

The Executive Director shall appoint the staff in accordance with the Regulation adopted by the Council. In order to adopt this Regulation, the Council shall take into account those applicable to staff of similar intergovernmental organizations. Staff members shall, as far as possible, be selected from among the nationals of the exporting Members and the importing Members.

6.

Neither the Executive Director nor the staff should have any financial interest in the industry, trade, transport or advertising of cocoa.

7.

In the performance of their duties, the Executive Director and the staff shall neither seek nor take instructions from any Member or from any authority outside the Organization. They shall refrain from any action incompatible with their position as international officials responsible only to the Organization. Each Member undertakes to respect the exclusively international character of the functions of the Executive Director and staff, and not to seek to influence them in the performance of their duties.

8.

The Executive Director or the staff of the Organization shall not disclose any information concerning the operation or administration of this Agreement, unless authorized by the Board or the proper performance of their functions under the This Agreement requires it.

1.

At the first session of the Council following the entry into force of the Agreement, the Executive Director shall submit a five-year strategic plan for the consideration and approval of the Council. One year before the expiration of the five-year strategic plan, the Executive Director introduced a new draft five-year strategic plan to the Council.

2.

At its last session of the cocoa year, the Council, on the recommendation of the Economic Committee, adopts the programme of work of the Organization established by the Executive Director for the following year. The programme of work includes the projects, initiatives and activities to be undertaken by the Organization. The Executive Director shall implement the programme of work.

3.

At its last meeting of the cocoa year, the Economic Committee assesses the implementation of the current year's programme of work on the basis of a report by the Executive Director. The Economic Committee shall present its conclusions to the Council.

Council releases annual report .

1.

An Administrative and Financial Committee is established. It is responsible for:

(a)

Supervise, on the basis of a budget proposal submitted by the Executive Director, the preparation of the draft administrative budget to be submitted to the Council;

(b)

Carry out any other administrative and financial tasks entrusted to it by the Council, including the monitoring of income and expenditure, as well as matters relating to the administration of the Organization.

2.

The Administrative and Financial Committee shall submit its recommendations to the Council on the above-mentioned matters.

3.

The Council shall establish the Rules of Procedure of the Administrative and Financial Committee.

1.

The Administrative and Financial Committee is composed of six member exporters on a rotating basis and six importing Members.

2.

Each Member of the Administrative and Financial Committee shall appoint a representative and, if he so wishes, one or more substitutes. Members of each category shall be elected by the Council, on the basis of the allocation of votes provided for in Art. 10. Their mandate covers a renewable two-year period.

3.

The Administrative and Financial Committee shall elect a President and a Vice-Chairperson from among its representatives for a period of two years. The duties of the Chair and Vice-Chair are alternating between the exporting Members and the importing Members.

1.

Meetings of the Administrative and Financial Committee shall be open to all other Members of the Organization as observers.

2.

The Administrative and Financial Committee shall normally meet at the headquarters of the Organization, unless it decides otherwise. If, on the invitation of a Member, the Administrative and Financial Committee meets elsewhere than at the headquarters of the Organization, that Member shall, in accordance with the administrative rules of the Organization, assume the additional costs resulting from it.

3.

The Administrative and Financial Committee normally meets twice a year and reports to the Council on its work.

1.

An administrative account shall be held for the administration of this Agreement. The expenditure required for the administration of this Agreement shall be charged to the administrative account and shall be covered by the annual contributions of the Members, fixed in accordance with Art. 24. However, if a Member requests specific services, the Council may decide to approve the request and requests the Member to pay those services.

2.

The Council may establish separate accounts for specific purposes in accordance with the objectives of this Agreement. These accounts are funded by voluntary contributions from Members and other organizations.

3.

The Organisation's budgetary year coincides with the cocoa year.

4.

The expenses of the delegations to the Council, the Administrative and Financial Committee, the Economic Committee and any other Committee of the Council or of the Administrative and Financial Committee and the Economic Committee shall be borne by the Members concerned.

5.

If the Organization's finances are or appear to be insufficient to finance the expenses of the remainder of the cocoa year, the Executive Director shall convene an extraordinary session of the Council within 15 days, unless a meeting of the Council is not already scheduled within 30 calendar days.

A Member's responsibilities to the Council and other Members shall be limited to its obligations with respect to contributions specifically provided for in this Agreement. Third parties dealing with the Council shall be deemed to have knowledge of the provisions of this Agreement relating to the powers of the Council and the obligations of Members, in particular by subs. 2 of the art. 7 and the first sentence of this Article.

1.

During the second half of each budget year, the Council shall adopt the administrative budget of the Organization for the following financial year and shall determine the contribution of each Member to that budget.

2.

For each financial year, the contribution of each Member to the administrative budget shall be proportionate to the report which, at the time of the adoption of the administrative budget for that exercise, shall be between the number of votes of that Member and the number of votes of All Members. For the determination of contributions, the votes of each Member shall be counted without taking into consideration the suspension of a Member's voting rights or the resulting distribution of votes.

3.

The Council shall determine the initial contribution of any Member entering the Organization after the entry into force of this Agreement, depending on the number of votes allocated to it and the unexpired portion of the current financial year. However, the contributions assigned to other Members for the current year remain unchanged.

4.

If this Agreement enters into force before the beginning of the first full exercise, the Council, at its first session, shall adopt an administrative budget for the period up to the beginning of this first full exercise.

1.

Contributions to the administrative budget of each budget year shall be payable in freely convertible currencies, shall not be subject to foreign exchange restrictions and shall be payable on the first day of the financial year. The contributions of Members for the period in which they become Members of the Organization shall be due on the date on which they become Members.

2.

Contributions to the administrative budget adopted under s. 4 of Art. 24 are due within three months of the date on which they were fixed.

3.

If, at the end of the first four months of the financial year or, in the case of a new Member, three months after the Council has determined its contribution, a Member has not paid its full contribution to the administrative budget, the Executive Director shall Request to make the payment as soon as possible. If, at the expiration of two months from the date of the request of the Executive Director, the Member in question has still not paid his contribution, his voting rights to the Council, the Administrative and Financial Committee and the Economic Committee Are suspended until the full contribution is paid.

4.

A Member whose voting rights have been suspended in accordance with s. 3 of this Article shall not be deprived of any of its rights or exempted from any of the obligations provided for in this Agreement unless the Council decides otherwise. It shall continue to pay its contribution and to meet all other financial obligations arising from this Agreement.

5.

The Council shall examine the question of the participation of any Member in arrears of two years in the payment of its contributions and may decide that the Member will no longer enjoy the rights conferred by the quality of Member and/or will no longer be taken into account For budgetary purposes. The Member in question shall continue to fulfil all other financial obligations under this Agreement. If it rules its arrears, it covers the rights conferred by membership. Any payment made by a Member with arrears is first allocated to the payment of these arrears, rather than to the settlement of contributions for the current fiscal year.

1.

As soon as possible, but not more than six months after the close of each budgetary year, the statement of the accounts of the Organization for that financial year and the balance sheet at the close of that financial period, in respect of the accounts referred to in art. 22, are verified. The audit is conducted by an independent auditor of recognized competence, who is elected by the Board for each fiscal year.

2.

The conditions of engagement of the recognized independent auditor and the intentions and goals of the audit are set out in the Financial Regulations of the Organization. The statement of accounts and the audited balance sheet of the Organization shall be submitted to the Board for approval at its next regular session.

3.

A summary of the audited accounts and balance sheet is published.

1.

An Economic Committee is established. The Economic Committee shall be responsible for:

(a)

The examination of statistics on cocoa and the statistical analysis of production, consumption, stocks, grindings, international trade and cocoa prices;

(b)

Examination of analyses of market trends and other factors affecting these trends, in particular the supply and demand of cocoa, including the effect of the use of cocoa butter substitutes on consumption and International cocoa trade;

(c)

Analysis of information on market access for cocoa and cocoa products in producer and consumer countries, including information on tariff and non-tariff barriers and the activities undertaken by them Members to promote the removal of barriers to trade;

(d)

The review and recommendation to the Council of projects to be financed by the Common Fund for Commodial Products (FCPB) or other donor agencies;

(e)

Examination of issues relating to the economic aspects of the sustainable development of the cocoa economy;

(f)

Consideration of the draft annual programme of work of the Organization, in collaboration with the Administrative and Financial Committee, as appropriate;

(g)

The preparation of international cocoa conferences and seminars, at the request of the Council;

(h)

Consideration of any other matters approved by the Board.

2.

The Economic Committee shall submit recommendations to the Council on the above-mentioned matters.

3.

The Council shall establish the Rules of Procedure of the Economic Committee.

1.

The Economic Committee shall be open to all Members of the Organization.

2.

The members of the Economic Committee elect a Chairperson and Vice-Chairperson for a period of two years. The duties of the Chair and Vice-Chair are alternating between the exporting Members and the importing Members.

1.

The Economic Committee shall normally meet at the headquarters of the Organization, unless it decides otherwise. If, on the invitation of a Member, the Economic Committee meets elsewhere than at the headquarters of the Organization, that Member shall, in accordance with the administrative rules of the Organization, assume the additional costs resulting from it.

2.

The Economic Committee normally meets twice a year, together with the sessions of the Council. The Economic Committee shall report to the Council on its work.

1.

The Organization serves as a global information centre for the effective collection, sharing, exchange and dissemination of statistical data and studies in all fields related to cocoa and cocoa products. To this end, the Organization shall:

(a)

Maintains statistical data on production, grinding, consumption, exports, re-exports, imports, prices and stocks of cocoa and cocoa products;

(b)

Requests, as appropriate, technical information on the cultivation, marketing, transport, processing, use and consumption of cocoa.

2.

The Council may request Members to provide information on the cocoa it deems necessary for its operation, including information on government policies, taxes and standards, laws and regulations Applicable to cocoa.

3.

In order to promote market transparency, Members shall communicate to the Executive Director, as far as possible and within reasonable time limits, relevant statistics as detailed and reliable as possible.

4.

If a Member fails to provide or has difficulty in providing the statistical data required by the Council within a reasonable period of time to ensure the proper functioning of the Organization, the Council may ask the Council for its reason. Where assistance is needed in this area, the Council can offer the necessary support to overcome the difficulties encountered.

5.

The Council shall publish, on appropriate dates, but at least twice a cocoa year, projections of cocoa production and grindings. The Council may use relevant information from other sources to monitor market developments and assess current and potential cocoa production and consumption levels. However, the Council may not publish any information which may reveal the activity of natural persons or business entities that produce, process or distribute cocoa.

1.

With a view to facilitating the assessment of the volume of world cocoa stocks in order to ensure greater market transparency, each Member shall provide to the Executive Director, no later than May, information on the level of Cocoa stocks in cocoa beans and cocoa products held in their country, in accordance with par. 3 of Art. 30.

2.

The Executive Director shall take the necessary steps to ensure the active collaboration of the private sector in this work, while ensuring the commercial confidentiality of the information provided.

3.

On the basis of this information, the Executive Director shall submit to the Economic Committee an annual report on the situation of world cocoa stocks in cocoa beans and products derived from cocoa.

1.

Members recognize that the use of alternative products can hinder the growth of cocoa consumption and the development of a sustainable cocoa economy. In this regard, they take full account of the recommendations and decisions of the relevant international bodies, including the provisions of the Codex Alimentarius .

2.

The Executive Director shall report periodically to the Economic Committee on developments. On the basis of these reports, the Economic Committee shall take stock of the situation and, if necessary, make recommendations to the Council for the adoption of appropriate decisions.

1.

For the purposes of this Agreement and in particular for the monitoring of the evolution of the cocoa market, the Executive Director shall calculate and publish the ICCO price index of cocoa in cocoa beans. The price is expressed in United States dollars per tonne, in euros per tonne, in pounds sterling per tonne and in Special Drawing Rights (SDRs) per tonne.

2.

The ICCO price index is the average of cocoa bean day prices for the three active futures months in the futures market in London's financial instruments ( NYSE Liffe ) And the New York market ( ICE Futures US ) At the closing time of the London market. London prices are converted into United States dollars per tonne using the exchange rate of the day at the end of London's six-month term. The US dollar-denominated average of London and New York prices is converted into euros and sterling at the London cash exchange rate at the close, as well as in SDRs at the appropriate daily exchange rate of the dollar. United States in SDRs, published by the International Monetary Fund. The Council decided on the method of calculation to be used when only prices on one of these two cocoa markets were available or when the London exchange market was closed. The transition to the next three-month period occurs on the 15th of the month immediately preceding the nearest active month in which the contracts expire.

3.

The Commission may decide to use any other method to calculate the ICCO indicator price that it considers to be satisfactory than that prescribed in this Article.

1.

For the purposes of determining the cocoa equivalent of cocoa-derived products, the conversion coefficients are as follows: cocoa butter 1.33; cocoa cake and powder 1.18; cocoa paste/liqueur and kernels and kernels 1.25. The Council may decide, where appropriate, that other products containing cocoa are products derived from cocoa. Conversion coefficients applicable to products derived from cocoa other than those for which conversion factors are indicated in this Article shall be fixed by the Council.

2.

The Board may revise the conversion factors indicated in par. 1 of this article.

The Council encourages and promotes scientific research and development in the field of production, transport, processing, marketing and consumption of cocoa, as well as the dissemination and practical application of its Results. To this end, the Organization may cooperate with international organizations, research institutes and the private sector.

1.

The Economic Committee analyses trends and development prospects in the cocoa production and consumption sectors, as well as stock and price developments, and identifies market imbalances at an early stage.

2.

At its first session, at the beginning of the new cocoa year, the Economic Committee reviewed the world's annual production and consumption forecasts for the next five cocoa years. The forecast is reviewed and revised annually as required.

3.

The Economic Committee shall submit detailed reports to each ordinary session of the Council. This report, on the basis of these reports, takes stock of the overall situation, assessing in particular the evolution of global supply and demand. The Council may make recommendations to Members on the basis of that assessment.

4.

On the basis of these forecasts, in order to restore market balance in the medium and long term, the exporting Members may consider coordinating their domestic production policies.

1.

Members undertake to encourage the consumption of chocolate and the use of cocoa-derived products, to improve the quality of products and to develop cocoa markets, including in the exporting Member countries. Each Member is responsible for the means and methods it uses for this purpose.

2.

All Members shall endeavour to eliminate or significantly reduce domestic obstacles to the development of cocoa consumption. In this regard, Members shall keep the Executive Director regularly informed of national laws and relevant measures and shall provide him with all other information concerning consumption of cocoa, including national taxes and Customs duties.

3.

The Economic Committee establishes a programme of the Organization's promotional activities, which may include the launching of information campaigns, research, capacity-building and production and consumption studies Cocoa. The Organization is working to engage the private sector in the delivery of its activities.

4.

Promotional activities are included in the annual work programme of the Organization, and can be financed from resources announced by Members, non-members, other organizations and the private sector.

1.

In order to assist its Members, the Council encourages the development of studies, surveys, technical reports and other documents on the production and distribution of cocoa. These include trends and projections, the impact of the measures taken by governments in exporting and importing countries on cocoa production and consumption, and the analysis of the value chain of the Cocoa, approaches to the management of financial and other risks, aspects related to the sustainability of the cocoa sector, opportunities to increase the consumption of cocoa in its traditional and new uses, the links between cocoa and cocoa And the effects of the application of this Agreement on exporters and importers of Cocoa, especially the terms of the exchange.

2.

The Council can also encourage studies that can contribute to improving market transparency and facilitate the development of a balanced and sustainable global cocoa economy.

3.

For the implementation of the provisions of s. 1 and 2 of this Article, the Council, on the recommendation of the Economic Committee, may adopt the list of studies, investigations and reports to be included in the annual work programme, in accordance with the provisions of Art. 17 of this Agreement. These activities may be funded from administrative budget resources or from other sources.

1.

At its first session following the entry into force of this Agreement, the Council shall review Annex C to this Agreement and, where appropriate, revise it, determining the proportion in which the countries referred to in that Annex produce and export Exclusively or partly of end cocoa (" Fine " Or " Flavour "). The Council may, at any time during the term of this Agreement, review and, where appropriate, revise Annex C. The Council shall take the opinion of experts in the matter, if necessary. In such cases, the composition of the panel of experts should ensure, as far as possible, the balance between experts from consuming countries and experts from producing countries. The Council shall decide on the composition and procedures to be followed by the panel of experts.

2.

The Economic Committee shall submit to the Organisation proposals for the elaboration and implementation of a system of statistics on cocoa production and trade (" Fine " Or " Flavour ").

3.

Taking due account of the importance of the end cocoa (" Fine " Or " Flavour ") , Members shall review and adopt, if necessary, projects that relate to them in accordance with the provisions of s. 37 and 43.

1.

Members may submit project proposals that contribute to the achievement of the objectives of this Agreement and the priority areas of work identified in the five-year strategic plan referred to in subs. 1 of the art. 17.

2.

The Economic Committee shall review the project proposals and submit its recommendations to the Council, in accordance with the mechanisms and procedures for the submission, evaluation, approval, priority-setting and financing of projects, fixed By the Council. The Council may, as appropriate, establish mechanisms and procedures for the implementation and monitoring of projects, as well as for the widest dissemination of their results.

3.

At each meeting of the Economic Committee, the Executive Director shall submit a report on the progress of all projects approved by the Council, including those awaiting funding, in progress or completed. A summary shall be submitted to the Council, in accordance with paragraph 1. 2 of the art. 27.

4.

As a general rule, the Organization functions as a supervisory body during the execution of projects. The general costs incurred by the Organization in the preparation, management, supervision and evaluation of projects shall be included in the total cost of such projects. These overhead costs shall not exceed 10 % of the total cost of each project.

1.

The Organization is making the best use of the Common Fund for Commodial Fund mechanisms to assist in the development and financing of projects of interest to the cocoa economy.

2.

The Organization strives to cooperate with other international organizations as well as with multilateral and bilateral funding institutions in order to secure funding for programmes and projects of interest to the The cocoa economy, as appropriate.

3.

Under no circumstances shall the Organization assume any financial obligations related to the projects, either on its own behalf or on behalf of its Members. No Member of the Organization shall be held responsible, by virtue of its membership in the Organization, for borrowing or lending by another Member or any other body in connection with such projects.

Members shall ensure that the living standards and working conditions of those working in the cocoa sector are improved in a manner consistent with their level of development, taking into account the internationally agreed principles And applicable ILO standards. Members also agree not to use labour standards for trade protectionism.

1.

Members make every effort to achieve a sustainable cocoa economy, taking into account the principles and objectives of sustainable development included in the Rio Declaration on Environment and Development, and Agenda 21 adopted in Rio de Janeiro in 1992, in the United Nations Millennium Declaration adopted in New York in 2000, in the report of the World Summit on Sustainable Development held in Johannesburg in 2002, in the Monterrey Consensus on Financing for Development adopted in 2002 and in the Ministerial Declaration on the Programme Of the Doha Development Round adopted in 2001.

2.

The Organization assists Members in their efforts to achieve their objectives of developing a sustainable cocoa economy in accordance with art. 1, let. E, and s. 2, para. 14.

3.

The Organisation serves as a focal point for ongoing dialogue between stakeholders, if necessary, in order to foster the development of a sustainable cocoa economy.

4.

The Organization encourages cooperation among Members through activities that contribute to a sustainable cocoa economy.

5.

The Council shall adopt and periodically evaluate programmes and projects relating to a sustainable cocoa economy in accordance with subs. 1 of this article.

6.

The Organization seeks the assistance and support of multilateral and bilateral donors in the delivery of programmes, projects and activities aimed at achieving a sustainable cocoa economy.

1.

An Advisory Commission on the World Cocoa Economy (hereinafter the Commission) is established to encourage the active participation of private sector experts in the work of the Organization and to promote an ongoing dialogue between experts in the field Public and private sectors.

2.

The Commission is an advisory body which gives advice to the Council on matters of general and strategic interest to the cocoa sector, including:

(a)

The long-term structural evolution of supply and demand;

(b)

Ways to strengthen the position of cocoa farmers, with a view to increasing their incomes;

(c)

Proposals to promote the sustainable production, trade and use of cocoa;

(d)

The development of a sustainable cocoa economy;

(e)

Development of terms and conditions for consumption promotion;

(f)

Any other matters relating to cocoa covered by this Agreement.

3.

The Commission assists the Council in collecting information on production, consumption and stocks.

4.

The Commission shall submit to the Council its recommendations on the above questions for consideration.

5.

The Commission may establish ad hoc working groups to assist in the discharge of its mandate, provided that their operating costs do not have budgetary implications for the Organization.

6.

At the time of its establishment, the Commission shall lay down its own rules and recommend their adoption to the Council.

1.

The World Economic Consultative Commission is made up of experts from all sectors of the cocoa economy, namely:

(a)

Trade associations and industry;

(b)

National and regional cocoa producer organisations, both public and private;

(c)

National organisations of cocoa exporters and farmers' associations;

(d)

Cocoa research institutes;

(e)

Other private sector associations or institutions that have an interest in the cocoa economy.

2.

These experts shall act in a personal capacity or on behalf of their respective associations.

3.

The Commission is composed of eight experts from exporting countries and eight experts from importing countries, as defined in par. 1 of this article. These experts are appointed by the Council every two years. The members of the Commission may appoint one or more councillors and alternates, whose appointment must be approved by the Council. In the light of the Commission's experience, the Council can increase the number of members of the Commission.

4.

The President of the Commission is chosen from among its members. The Presidency is held alternately, for a period of two years, by the exporting countries and by the importing countries.

1.

The World cacaoyère Consultative Commission shall normally meet at the headquarters of the Organization, unless the Council decides otherwise. If, on the invitation of a Member, the Consultative Commission meets elsewhere than at the headquarters of the Organization, that Member shall, in accordance with the administrative rules of the Organization, assume the additional costs resulting from it.

2.

The Commission normally meets twice a year, together with the regular sessions of the Council. The Commission shall report regularly to the Council on its work.

3.

The meetings of the Consultative Commission on the World cacoyère economy are open to all Members of the Organization as observers.

4.

The Commission may also invite to participate in its work and meetings of eminent experts or well-known personalities in a specific field, from the private or public sectors, including non-governmental organizations Have the expertise required in areas of the cocoa sector.

1.

The Council may exempt a Member from an obligation owing to exceptional or critical circumstances, a case of force majeure, or international obligations under the Charter of the United Nations in respect of the territories administered under the Guardianship regime.

2.

When granting an exemption to a Member under s. 1 of this Article, the Council shall explicitly specify in what manner, under what conditions and for how long the Member is exempt from the said obligation, as well as the reasons for the exemption.

3.

Notwithstanding the provisions referred to in this section, the Commission will not deliver a Member of its obligations under s. 25 to settle its contributions or the consequences of a default.

4.

The calculation of the allocation of votes of the exporting Members, for which the Council has recognized a case of force majeure, must be based on the actual volume of exports of the year in which the case of force majeure occurs and for The following three years.

The importing developing Members and the least developed countries which are Members may, if their interests are adversely affected by measures taken pursuant to this Agreement, request the Council for differentiated and remedial measures Appropriate. The Council intends to take the appropriate measures in the light of the provisions of resolution 93 (IV) adopted by the United Nations Conference on Trade and Development.

Each Member shall give full consideration to representations made by another Member concerning the interpretation or application of this Agreement, and shall provide it with adequate opportunities for consultation. During these consultations, at the request of one of the parties and with the consent of the other, the Executive Director shall establish an appropriate conciliation procedure. The costs of the said procedure shall not be attributable to the budget of the Organization. If this procedure leads to a solution, it is reported to the Executive Director. If no solution is found, the matter may, at the request of one of the parties, be referred to the Board in accordance with s. 50.

1.

Any dispute relating to the interpretation or application of this Agreement which is not settled by the parties to the dispute shall, at the request of one of the parties to the dispute, be referred to the Board for decision.

2.

When a dispute is referred to the Board under s. 1 of this Article and has been the subject of a debate, several Members having together at least one third of the total number of votes, or five Members of any kind, may request the Council to take, before rendering its decision, the opinion, on questions in Dispute, an advisory group Ad hoc And it is indicated in par. 3 of this article.

(a) Unless the Council decides otherwise, the Advisory Group Ad hoc Is composed of:

(i)

Two persons, identified by the exporting Members, one of whom has considerable experience with the issues of the kind in dispute, and of which the other is a qualified and experienced lawyer;

(ii)

Two persons, identified by the importing Members, one of whom has considerable experience with the issues of the kind in dispute, and of which the other is a qualified and experienced lawyer;

(iii)

A chairperson selected unanimously by the four persons designated in accordance with subparagraphs i and ii above or, in the event of disagreement between them, by the President of the Council.

(b)

There is no impediment to the participation of nationals of Members of the Advisory Group Ad hoc .

(c)

Members of the Ad Hoc Advisory Group shall serve in their personal capacity and without any instructions from any Government.

(d)

Expenses of the Advisory Group Ad hoc Are the responsibility of the Organization.

4.

The reasoned opinion of the advisory group Ad hoc Shall be submitted to the Council, which shall resolve the dispute after taking into account all relevant data.

1.

Any complaint for failure by a Member to fulfil its obligations under this Agreement shall, at the request of the Member who is the author of the complaint, be referred to the Council, which shall examine it and act.

2.

The decision by which the Board finds that a Member is in breach of its obligations under this Agreement shall be made by a distributed simple majority and shall specify the nature of the offence.

3.

Whenever it concludes, whether or not as a result of a complaint, that a Member breaches its obligations under this Agreement, the Council may, without prejudice to other measures expressly provided for in other Articles of the present Agreement, including Art. 60:

(a)

Suspend the voting rights of that Member to the Council; and

(b)

If it deems it necessary, suspend other rights of that Member, in particular its eligibility for a function in the Council or any of its committees, or its right to perform such a function, until it has fulfilled its Obligations.

4.

A Member whose voting rights have been suspended in accordance with s. 3 of this Article shall continue to fulfil its financial obligations and other obligations under this Agreement.

The Secretary-General of the United Nations shall be designated as the depositary of this Agreement.

This Agreement shall be open for signature by the Parties to the 2001 International Agreement on Cocoa and Governments invited to the United Nations Conference on Cocoa, 2010, at United Nations Headquarters, of 1 ^Er October 2010 to September 30, 2012 included. However, the Council established under the International Cocoa Agreement, 2001, or the Council established under this Agreement, may extend the time limit for the signature of this Agreement only once. The Council shall immediately notify the depositary of this extension.

1.

This Agreement shall be subject to ratification, acceptance or approval by signatory governments in accordance with their constitutional procedure. Instruments of ratification, acceptance or approval shall be deposited with the depositary.

2.

Each Contracting Party shall indicate to the Secretary-General, at the time of deposit of its instrument of ratification, acceptance or approval, or as soon as possible after that date, whether it is an exporting Member or an importing Member.

1.

This Agreement shall be open to the accession of the Government of any State empowered to sign it.

2.

The Council shall determine in which annexes to this Agreement the State which accedes to the said Agreement shall be deemed to be, if it does not appear in any of those Annexes.

3.

Accession shall be effected by the deposit of an instrument of accession with the depositary.

1.

A signatory Government intending to ratify, accept or approve this Agreement or a Government which intends to accede to it, but has not yet been able to deposit its instrument, may at any time notify the depositary that, In accordance with its constitutional procedure and/or its national laws and regulations, it shall apply this Agreement provisionally or when it enters into force in accordance with Art. 57, if it is already in force, on a specified date. Each Government making such notification shall indicate to the Secretary-General, at the time of notification or as soon as possible after notification, whether it will be an exporting Member or an importing Member.

2.

A government that has notified, in accordance with s. 1 of this Article, that it will apply this Agreement either when it enters into force or on a specified date is, therefore, provisionally a Member. It remains a provisional Member until the date of the deposit of its instrument of ratification, acceptance, approval or accession.

1.

This Agreement shall enter into force on a final basis on 1 ^Er October 2012, or at any later date, if at that time governments that represent at least five exporting countries holding at least 80 % of the total exports of the countries listed in Annex A, and the governments that represent Importing countries holding at least 60 % of the total imports as set out in Annex B have deposited their instruments of ratification, acceptance, approval or accession with the depositary. It will also enter into force on a final basis, after entering into force provisionally, as soon as the percentages required above are reached as a result of the deposit of instruments of ratification, acceptance, approval or accession.

2.

This Agreement shall enter into force provisionally on 1 ^Er January 2011 if, as of that date, governments representing at least five exporting countries holding at least 80 % of the total exports of the countries listed in Annex A and of the governments representing 60 % importing countries At least of the total imports as shown in Annex B have deposited their instruments of ratification, acceptance, approval or accession or have notified the depositary that they will apply this Agreement in title When it enters into force. These Governments will be Members on a provisional basis.

3.

If the conditions of entry into force provided for in s. 1 or a par. 2 of this Article are not fulfilled before 1 ^Er September 2011, the Secretary-General of the United Nations Conference on Trade and Development will convene, as soon as he deems it possible, a meeting of Governments that have deposited instruments of ratification, acceptance, Of approval or accession or who have notified the depositary that they will apply this Agreement provisionally. These governments may decide to bring this Agreement into force, on a provisional or final basis, in whole or in part, on the date they fix, or to adopt any other provisions that they deem necessary.

4.

For any Government on whose behalf an instrument of ratification, acceptance, approval or accession or notification of provisional application shall be deposited after the entry into force of this Agreement in accordance with subs. 1, para. 2 or par. 3 of this Article, the instrument or the notification shall take effect on the date of filing, and in respect of the notification of provisional application, in accordance with the provisions of subs. 1 of the art. 56.

None of the provisions of this Agreement shall be subject to reservations.

1.

Any Member may withdraw from this Agreement at any time after the entry into force of this Agreement by notifying the depositary in writing. The Member shall immediately inform the Council of its decision.

2.

The withdrawal shall take effect 90 days after receipt of the notification by the depositary. If, as a result of a withdrawal, the number of Members is insufficient to meet the conditions set out in subs. 1 of the art. 57 for the entry into force of this Agreement, the Council shall meet in extraordinary session to examine the situation and take the appropriate decisions.

If the Board enters into compliance with the provisions of s. 3 of Art. 51, that a Member be in breach of the obligations imposed by this Agreement, and if it further determines that such an offence is a serious impediment to the operation of this Agreement, it may exclude that Member from the Organization. The Council shall immediately notify the depositary of this exclusion. Ninety days after the date of the Council decision, the said Member ceases to be a Member of the Organization.

In the event of withdrawal or exclusion of a Member, the Council shall liquidating the Member's accounts. The Organization shall retain the sums already paid by that Member, which shall, on the other hand, have to pay it any amount owed to it by the effective date of withdrawal or exclusion. However, if it is a Contracting Party which cannot accept an amendment and which, as such, ceases to participate in this Agreement under s. 2 of the art. 63, the Council may liquidate the account in the manner that it considers equitable.

1.

This Agreement shall remain in force until the end of the tenth full cocoa year following its entry into force, unless it is extended under subsection (1). 4 of this Article or that it has been terminated in application of s. 5 of this article.

2.

The Council shall review this Agreement five years after its entry into force and shall take the appropriate decisions.

3.

As long as this Agreement is in force, the Council may decide to renegotiate it so that the new negotiated agreement enters into force at the end of the tenth cacaoyère year referred to in s. 1 of this Article, or at the end of any period of extension decided by the Council in accordance with paragraph 1. 4 of this article.

4.

The Council may extend this Agreement, in whole or in part, for two periods not exceeding two years each. The Council shall notify the depositary of this extension.

5.

The Council may at any time decide to terminate this Agreement, which shall then terminate on the date fixed by the Council, on the understanding that the obligations assumed by Members under Art. 25 remain until the financial commitments relating to the operation of this Agreement have been fulfilled. The Council shall notify the depositary of that decision.

6.

Notwithstanding the termination of this Agreement in any way, the Council shall continue to exist as long as it is necessary to liquidate the Organization, to clear the accounts and to distribute the assets. During this period, the Council has the necessary powers to carry out all administrative and financial matters.

7.

Notwithstanding the provisions of s. 2 of the art. 59, a Member who does not wish to participate in this Agreement as extended under this Article shall inform the depositary and the Council accordingly. This Member shall cease to be a party to this Agreement from the beginning of the extension period.

1.

The Council may recommend to the Contracting Parties an amendment to this Agreement. The amendment shall take effect 100 days after the depositary has received notifications of acceptance from Contracting Parties which account for at least 75 % of the exporting Members holding at least 85 % of the votes of the exporting Members, and of Parties Contracting Parties which represent at least 75 % of the importing Members holding at least 85 % of the votes of the importing Members, or at a later date than the Council may have fixed. The Council may fix a time limit before the expiration of which the Contracting Parties must notify the depositary that they accept the amendment, and if the amendment has not entered into force on the expiry of that period, it shall be deemed to have been withdrawn.

2.

Any Member in whose name it has not been made a notification of acceptance of an amendment on the date on which it enters into force ceases, on that date, to participate in this Agreement, unless the Council decides to extend the period set for Receive the acceptance of the Member in order to enable it to carry out its internal procedures. This Member is not bound by the amendment until it has notified its acceptance of the amendment.

3.

Upon the adoption of a recommendation for amendment, the Council shall send to the depositary a copy of the amendment. The Council shall provide the depositary with the information necessary to determine whether the number of notifications of acceptance received is sufficient for the amendment to take effect.

1.

A Special Reserve Fund shall be established, which shall be used only to cover the liquidation expenses of the Organization that may be required. The Council shall decide how the interest earned on the Fund will be used.

2.

The amount of the Special Reserve Fund, fixed by the Council under the International Cocoa Agreement 1993, shall be transferred to this Agreement under s. 1.

3.

A Member which has not acceded to the International Cocoa Agreements of 1993 and 2001 and which adheres to this Agreement shall make a contribution to the Special Reserve Fund. The contribution of this Member shall be determined by the Council on the basis of the number of votes it holds.

1.

This Agreement is considered to supersede the International Cocoa Agreement, 2001.

2.

All provisions adopted pursuant to the International Cocoa Agreement, 2001, either by the Organization or by one of its organs, or on their behalf, which are in force on the date of entry into force of this Agreement, and shall not be specified The effect shall expire on that date, shall remain applicable unless they are amended by the provisions of this Agreement.

Done at Geneva on June 25, 2010, the texts of this Agreement in English, Arabic, Chinese, Spanish, French and Russian as equally authentic.

(Suivent signatures)