Industry News
Introducing The Bremen Cotton Exchange — Mission: Strong together
By Yvonne Heinen-Foudeh, Senior International Correspondent
Acting as an international commodity organization, in association with 16 other cotton exchanges worldwide, one of the fundamental tasks of the Bremen Cotton Exchange is to ensure that the cotton business is conducted in accordance with the “basic law” for the cotton trade. The clear and neutral rules of the trade laid down therein include its own jurisdiction as well as instruments for settling disagreements between the contracting parties about the quality of the goods supplied.
The aim is to achieve a uniform set of regulations worldwide. Bremen Cotton Exchange recruits its members from 30 countries - representing the circles interested in the business with the raw material cotton, ranging from producers to traders to processors, i.e. spinners or weavers.
In addition, the association defines its role as a competence center for all questions related to cotton, advising all partners involved in the value chain – from harvesting and processing to marketing and trade.
Jean-Paul Haessig elected PresidentAt the end of June of their General Assembly, the board elected Jean-Paul Haessig as the new President of the Bremen Cotton Exchange for the upcoming two years. Haessig is a director of the trading company Asian Cotton Traders PTE Ltd, Ho Chi Minh City, Vietnam, and Singapore. In his leading role in the association, he succeeds Stephanie Silber (Managing Director of Otto Stadtlander GmbH, Bremen, who will remain a member of the Executive Committee in the role of a Vice President. The Vice Presidents Jens D. Lukaczik (Managing Partner of the service company Cargo Control Germany GmbH & Co. KG) and Fritz A. Grobien (Managing Partner of Albrecht, Müller-Pearse & Co. Trade GmbH & Co. KG) will continue to serve as members of the Executive Committee.
Since 29th of June Jean-Paul Haessig presides Bremer Baumwollbörse – The Bremen Cotton Exchange.
Continuously developed over the course of time – depending on changes in global trading processes the “Bremen rules” are still regarded today as the basic law for cotton trade contracts concluded at home and abroad. In 2006, the Liverpool Rules were adopted by the ICA (International Cotton Association), Liverpool, to create uniform rules for the cotton trade worldwide.
Since 1872The Bremen Cotton Exchange has represented its members from Germany, the rest of Europe, and overseas under guiding principles.
Given the significance of cotton as a raw material of the entire textile industry in mind, a product that is produced in more than 80 countries around the world and that is constantly changing both in price and quality thus the importance of the Bremen Cotton Exchange and its international partners becomes clear. “In the age of globalization and changing trade structures, it remains a major challenge for us to represent the interests of the cotton industry at national and international level,” says consequently a mission statement on the by now 151 years of work, especially with a view to the future. “We are facing up to this by providing technology and knowledge about cotton testing, by harmonizing trade rules internationally, and by cooperating and joining forces with other organizations,” continues to emanate from the headquarters at Hanseatic City of Bremen in Germany, where the cotton trade has a long-standing tradition.
Bremen Cotton Exchange’s Board of Directors and the Executive Committee consist predominantly of representatives from various sectors of the cotton supply chain, including trading, processing, and services. This composition grants the commodities association extensive access to a wide network and global information resources not only within the cotton sector but also in the broader textile industry.
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