UNCTAD approves International Agreement on Olive Oil & Table Olives

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The text of the Agreement that will succeed the current 2005 International Agreement on Olive Oil and Table Olives as of 1 January 2017 was adopted by consensus at the United Nations Conference for Trade and Development (UNCTAD) in Geneva where it was negotiated between 5 and 9 October.

The new Agreement is based on the text adopted by the IOC Council of Members in June of this year but incorporates some changes designed to make certain points clearer.

This new text takes into account developments in the world olive and olive oil industry. It reasserts the role of the IOC as a world centre for documentation and information dissemination about the olive and its products and as a forum for industry stakeholders. It also places emphasis on standardising national and international legislation on the physical, chemical and organoleptic characteristics of olive oils, olive pomace oils and table olives in order to prevent obstacles to trade.

Compared with preceding Agreements, the new Agreement is simpler, more rational and more condensed. It is aimed at facilitating the participation of importer countries and features a modified system for calculating the distribution of participation shares that is meant to encourage consumer countries to join.

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