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ABIDJAN May 5 Ivory Coast and Ghana will work
together to improve the organisation and sale of their cocoa,
Presidents Alassane Ouattara and Nana Akufo-Addo said on Friday
at the end of a summit.
The West African neighbours, the world's two biggest cocoa
producers, will also improve coordination between their cocoa
sector regulators, the presidents said in a statement after
meeting in Ivory Coast's economic capital Abidjan.
Cocoa is vital to the economies of both countries and Ivory
Coast has already slashed its 2017 budget due to plummeting
global cocoa prices.
The two countries are also seeking African Development Bank
funding to develop industries to add value to their cocoa with
products such as cocoa paste and cocoa butter, which can be made
"One of the main points of this strategic partnership will
be to work between our two countries to organise production,"
Ivorian President Ouattara told a news conference in the Ivorian
commercial capital Abidjan.
We need to "put in place commercial structures to transform
cocoa into paste and butter so that our economies and our cocoa
production is no longer dependent on the fluctuation of external
prices," he said.
(Reporting by Loucoumane Coulibaly; writing by Matthew Mpoke
Bigg; editing by David Clarke)