International Cocoa Agreement, 2010, as amended, 2022

Official Journal EN of the European Union L series 2026/1198 15.6.2026 INTERNATIONAL COCOA AGREEMENT, 2010, AS AMENDED, 2022(1) PREAMBLE The Parties to the Agreement, (a) RECOGNIZING the contribution of the cocoa sector to poverty alleviation and the achievement of the internationally agreed development goals, including the relevant Sustainable Development Goals; (b) RECOGNIZING the importance of cocoa and the cocoa trade for the economies of developing countries, as a source of living income for their populations, and recognizing the key contribution of the cocoa trade to their export earnings and to the formulation of social and economic development programmes; (c) RECOGNIZING the importance of the cocoa sector to the livelihoods of millions of people, particularly in developing countries where small-scale farmers rely on cocoa production as a direct source of green jobs and living income; (d) RECOGNIZING that close international cooperation on cocoa matters and continuing dialogue between all stakeholders in the cocoa value chain may contribute to the sustainable development of the world cocoa economy; (e) RECOGNIZING the importance of strategic partnerships between exporting and importing Members to ensure the achievement of a sustainable cocoa economy; (f) RECOGNIZING the need to ensure the transparency of the international cocoa market, for the benefit of both producers and consumers; (g) RECOGNIZING the contribution of the previous International Cocoa Agreements of 1972, 1975, 1980, 1986, 1993, and 2001 to the development of the world cocoa economy; HEREBY AGREE THE FOLLOWING: CHAPTER I Objectives Article 1 Objectives With a view to strengthening the global cocoa sector, supporting its sustainable development and increasing the benefits to all stakeholders, the objectives of the Seventh International Cocoa Agreement are: (a) To promote international cooperation in the world cocoa economy; (b) To provide an appropriate framework for discussion on all cocoa matters among governments, and with the private sector; (c) To contribute to the strengthening of the national cocoa economies of Member countries, through the preparation, development and evaluation of appropriate projects to be submitted to the relevant institutions for financing and implementation and seeking finance for projects that benefit Members and the world cocoa economy; (d) To obtain fair prices leading to equitable economic returns to both producers and consumers in the cocoa value chain, and to contribute to a balanced development of the world cocoa economy in the interest of all Members; (1) The present Amendment is the text of the International Cocoa Agreement, 2010, as amended by the International Cocoa Council. ELI: http://data.europa.eu/eli/agree_internation/2026/1198/oj 1/39EN OJ L, 15.6.2026 (e) To achieve a living income for cocoa producers; (f) To promote a sustainable cocoa economy in economic, social and environmental terms; (g) To encourage research and the implementation of its findings through the promotion of training and information programmes leading to the transfer to Members of technologies suitable for cocoa; (h) To promote transparency in the world cocoa economy, and in particular in the cocoa trade, through the collection, analysis and dissemination of relevant statistics and the undertaking of appropriate studies, as well as to promote the elimination of trade barriers, without prejudice to national sanitary and phytosanitary standards regulations; (i) To promote and to encourage consumption of chocolate and cocoa-based products in order to increase demand for cocoa, inter alia through the promotion of the positive attributes of cocoa, including health benefits, in close cooperation with the private sector; (j) To encourage Members to promote cocoa quality and safety, including a focus on specific flavour characteristics and on bean integrity, and to develop appropriate food safety procedures in the cocoa sector; (k) To encourage Members to develop and implement strategies to enhance the capacity of local communities and small-scale farmers to benefit from living incomes to provide their families with decent quality of life and thereby contribute to poverty eradication; (l) To improve the availability of information on financial tools and services that can assist cocoa producers, including access to credit and risk management strategies; (m) To encourage value addition through the processing of cocoa beans at origin countries and to promote the use of cocoa in the food, cosmetic and pharmaceutical industries; (n) To encourage Members to remove barriers to entry for new investors in the cocoa economy; (o) To promote trade in derived cocoa products. CHAPTER II Definitions Article 2 Definitions For the purposes of this Agreement: 1. Cocoa means cocoa beans and cocoa products unless specified as ‘cocoa beans’; 2. Fine flavour cocoa is cocoa characterized by a complex sensory profile, composed of well-balanced basic attributes with aromatic and flavour notes; the complementary attributes can be clearly perceived and identified in the expression of its aromas and flavours; it results from the interaction between (a) a particular genetic composition, (b) favourable growing conditions in a given environment/terroir, (c) specific plantation management techniques, (d) specific harvesting and post-harvest practices and (e) stable chemical and physical composition, and integrity of the bean; 3. Cocoa products means products made exclusively from cocoa beans, such as cocoa paste/liquor, cocoa butter, unsweetened cocoa powder, cocoa cake and cocoa nibs as defined in the Codex Alimentarius; 4. Chocolate and chocolate products are products made from cocoa beans which comply with the Codex Alimentarius standard for chocolate and chocolate products; 2/39 ELI: http://data.europa.eu/eli/agree_internation/2026/1198/ojEN OJ L, 15.6.2026 5. Stocks of cocoa beans means all dry cocoa beans that can be identified as at the last day of the cocoa year (30 September), irrespective of location, ownership or intended use; 6. Cocoa year means the period of 12 months from 1 October to 30 September inclusive; 7. Organization means the International Cocoa Organization referred to in article 3; 8. Council means the International Cocoa Council referred to in article 6; 9. Contracting Party means a Government, the European Union or an intergovernmental organization as provided for in article 4, which has consented to be bound by this Agreement provisionally or definitively; 10. Member means a Contracting Party as defined in point 9 above; 11. Importing country or importing Member means a country or a Member, respectively, whose imports of cocoa, expressed in terms of beans, exceed its exports; 12. Exporting country or exporting Member means a country or a Member, respectively, whose exports of cocoa, expressed in terms of beans, exceed its imports. However, a cocoa-producing country whose imports of cocoa, expressed in bean equivalent terms, exceed its exports but whose production of cocoa beans exceeds its imports or whose production exceeds its apparent domestic cocoa consumption(1) may, if it so chooses, be an exporting Member; 13. Export of cocoa means any cocoa which leaves the customs territory of any country and import of cocoa means any cocoa which enters the customs territory of any country, provided that, for the purposes of these definitions, customs territory shall, in the case of a Member which comprises more than one customs territory, be deemed to refer to the combined customs territories of that Member; 14. Customs territory means the territory in which the customs laws of a State apply in full; 15. A sustainable cocoa economy implies an integrated value chain in which all stakeholders, including smallholder producers, cooperate to develop and promote appropriate policies to achieve levels of production, processing and consumption that are economically viable, dietetically healthy, agro-ecologically sound and socially responsible for the benefit of present and future generations, in particular for the smallholder producers; 16. Ethical cocoa means cocoa produced through responsible activity, with no detrimental effect on the environment, biodiversity and communities and their cultures; 17. Private sector comprises all private entities which have main activities in the cocoa sector, including farmers, traders, processors, manufacturers and research institutes. In the framework of this Agreement, the private sector also comprises public enterprises, agencies and institutions which, in certain countries, fulfil roles that are performed by private entities in other countries; 18. Indicator price is the representative indicator of the international price of cocoa used for the purposes of this Agreement and computed in accordance with the provisions of article 33; 19. Tonne means a mass of 1 000 kilograms or 2 204,6 pounds and pound means 453,597 grams; 20. Simple distributed majority vote means a majority of votes cast by exporting Members and a majority of votes cast by importing Members, counted separately; 21. Special vote means two thirds of the votes cast by exporting Members and two thirds of the votes cast by importing Members, counted separately, on condition that at least five exporting Members and a majority of importing Members are present; (1) Calculated as grindings of cocoa beans plus net imports of cocoa products and of chocolate and chocolate products in beans equivalent. ELI: http://data.europa.eu/eli/agree_internation/2026/1198/oj 3/39EN OJ L, 15.6.2026 22. Entry into force means, except when qualified, the date on which this Agreement first enters into force, whether provisionally or definitively. 23. A living income means a net sufficient income generated by a household in order to ensure a decent standard of living for all members of that household, in accordance with national standards. CHAPTER III The International Cocoa Organization (ICCO) Article 3 Headquarters and structure of the International Cocoa Organization 1. The International Cocoa Organization established by the International Cocoa Agreement, 1972, shall continue in being and shall administer the provisions and supervise the operation of this Agreement. 2. The headquarters of the Organization shall always be located in the territory of a Member. 3. The headquarters of the Organization shall be in Abidjan, Côte d’Ivoire, unless the Council decides otherwise. 4. The Organization shall function through: (a) The International Cocoa Council, which is the highest authority of the Organization; (b) The subsidiary bodies of the Council, comprising the Administration and Finance Committee, the Economics Committee, the Consultative Board on the World Cocoa Economy, and any other committees established by the Council; and (c) The Secretariat at the headquarters of the Organization; (d) Regional offices that could be established by the Council. Article 4 Membership in the Organization 1. Each Contracting Party shall be a Member of the Organization. 2. There shall be two categories of Members of the Organization, namely: (a) Exporting Members; and (b) Importing Members. 3. A Member may change its category on such conditions as the Council may establish. 4. Two or more Contracting Parties may, by appropriate notification to the Council and to the Depositary, which will take effect on a date to be specified by the Contracting Parties concerned and on conditions agreed by the Council, declare that they are participating in the Organization as a Member group. 5. Any reference in this Agreement to ‘a Government’ or ‘Governments’ shall be construed as including the European Union and any intergovernmental organization having comparable responsibilities in respect of the negotiation, conclusion and implementation of international agreements, in particular commodity agreements. Accordingly, any reference in this Agreement to signature, ratification, acceptance or approval, or to notification of provisional application or to accession shall, in the case of such intergovernmental organizations, be construed as including a reference to signature, ratification, acceptance or approval, or to notification of provisional application, or to accession, by such intergovernmental organizations. 4/39 ELI: http://data.europa.eu/eli/agree_internation/2026/1198/ojEN OJ L, 15.6.2026 6. In the case of voting on matters within their competence, such intergovernmental organizations shall vote with a number of votes equal to the total number of votes attributable to their member States in accordance with article 10. In such cases, the member States of such intergovernmental organizations shall not exercise their individual voting rights. Article 5 Privileges and immunities 1. The Organization shall have legal personality. It shall in particular have the capacity to contract, acquire and dispose of movable and immovable property and to institute legal proceedings. 2. The status, privileges and immunities of the Organization, its Executive Director, its staff, experts and representatives of Members, while in the territory of the host country for the purpose of exercising their functions, shall be governed by the Headquarters’ Agreement concluded between the host country and the International Cocoa Organization. 3. The Headquarters’ Agreement referred to in paragraph 2 of this article shall be independent of this Agreement. It shall, however, terminate: (a) Pursuant to the provisions of the aforementioned Headquarters’ Agreement; (b) In the event of the headquarters of the Organization being moved from the territory of the host Government; or (c) In the event of the Organization ceasing to exist. 4. The Organization may conclude with one or more other Members agreements to be approved by the Council relating to such privileges and immunities as may be necessary for the proper functioning of this Agreement. CHAPTER IV The International Cocoa Council Article 6 Composition of the International Cocoa Council 1. The International Cocoa Council shall consist of all the Members of the Organization. 2. In the meetings of the Council, Members shall be represented by duly accredited delegates. Article 7 Powers and functions of the Council 1. The Council shall exercise all such powers and perform or arrange for the performance of all such functions as are necessary to carry out the express provisions of this Agreement. 2. The Council shall not have the power, and shall not be taken to have been authorized by the Members, to incur any obligation outside the scope of this Agreement; in particular, it shall not have the capacity to borrow money. In exercising its capacity to contract, the Council shall incorporate in its contracts the terms of this provision and of article 23 in such a way as to bring them to the notice of the other parties entering into contracts with the Council, but any failure to incorporate such terms shall not invalidate such a contract or render it ultra vires the Council. ELI: http://data.europa.eu/eli/agree_internation/2026/1198/oj 5/39EN OJ L, 15.6.2026 3. The Council shall adopt such rules and regulations as are necessary to carry out the provisions of this Agreement and are consistent therewith, including its rules of procedure and those of its committees, and the financial and staff regulations of the Organization. The Council may, in its rules of procedure, provide for a procedure whereby it may, without meeting, decide specific questions. 4. The Council shall keep such records as are required for the performance of its functions under this Agreement, and such other records as it considers appropriate. 5. The Council may set up any working group(s) as appropriate to assist it in carrying out its task. Article 8 Chairman and Vice-Chairman of the Council 1. The Council shall elect a Chairman and a Vice-Chairman for each cocoa year, who shall not be paid by the Organization. 2. When the Chairman is elected from among the representatives of the exporting Members, then the Vice-Chairman shall be elected from the representatives of the importing Members, and vice versa. These offices shall alternate each cocoa year between the two categories. 3. In the temporary absence of both the Chairman and the Vice-Chairman or the permanent absence of one or both of them, the Council may elect new officers from among the representatives of the exporting Members or from among the representatives of the importing Members, as appropriate, on a temporary or permanent basis as may be required. 4. Neither the Chairman nor any other officer presiding at meetings of the Council shall vote. A member of their delegation may exercise the voting rights of the Member which he or she represents. Article 9 Sessions of the Council 1. As a general rule, the Council shall hold one regular session in each half of the cocoa year. 2. The Council shall meet in special session whenever it so decides or at the request of: (a) Any five Members; (b) At least two Members having at least 200 votes each; (c) The Executive Director, for the purposes of articles 22 and 60. 3. Notice of sessions shall be given at least 30 calendar days in advance, except in case of emergency, where notice shall be at least 15 days. 4. Sessions shall be held at the headquarters of the Organization unless the Council decides otherwise. If, on the invitation of any Member, the Council decides to meet elsewhere than at the headquarters, that Member shall pay the additional costs involved, compared with the expenditures normally borne by the Secretariat. 5. The Council can meet in virtual or hybrid sessions whenever it so decides or at the request of at least two Members having at least 200 votes each. 6/39 ELI: http://data.europa.eu/eli/agree_internation/2026/1198/ojEN OJ L, 15.6.2026 Article 10 Votes 1. The exporting Members shall together hold 1 000 votes and the importing Members shall together hold 1 000 votes, distributed within each category of Members – that is, exporting and importing Members, respectively – in accordance with the following paragraphs of this article. 2. For each cocoa year, the votes of exporting Members shall be distributed as follows: each exporting Member shall have five basic votes. The remaining votes shall be divided among all the exporting Members in proportion to the average volume of their respective exports of cocoa in the preceding three cocoa years for which data have been published by the Organization in its latest issue of the Quarterly Bulletin of Cocoa Statistics. For this purpose, exports shall be calculated as net exports of cocoa beans plus net exports of cocoa products, converted to beans equivalent using the conversion factors as specified in article 34. 3. For each cocoa year, the votes of importing Members shall be distributed among all importing Members in proportion to the average volume of their respective imports of cocoa in the preceding three cocoa years for which data have been published by the Organization in its latest issue of the Quarterly Bulletin of Cocoa Statistics. For this purpose, imports shall be calculated as net imports of cocoa beans plus gross imports of cocoa products, converted to beans equivalent using the conversion factors as specified in article 34. No Member country shall have less than five votes. Hence voting rights of Member countries with above the minimum number of votes shall be redistributed among Members with below the minimum number of votes. 4. If, for any reason, difficulties should arise in the determination or the updating of the statistical basis for the calculation of votes in accordance with the provisions of paragraphs 2 and 3 of this article, the Council may decide on a different statistical basis for the calculation of votes. 5. No Member except those mentioned in paragraphs 4 and 5 of article 4 shall have more than 400 votes. Any votes above this figure arising from the calculations in paragraphs 2, 3 and 4 of this article shall be redistributed among the other Members on the basis of those paragraphs. 6. When the membership in the Organization changes or when the voting rights of a Member are suspended or restored under any provision of this Agreement, the Council shall provide for the redistribution of votes in accordance with this article. The European Union or any intergovernmental Organization as defined in article 4 shall hold votes as a single Member according to the procedure set out in paragraphs 2 or 3 of this article. 7. There shall be no fractional votes. Article 11 Voting procedure of the Council 1. Each Member shall be entitled to cast the number of votes it holds and no Member shall be entitled to divide its votes. A Member may, however, cast differently from such votes any votes which it is authorized to cast under paragraph 2 of this article. 2. By written notification to the Chairman of the Council, any exporting Member may authorize any other exporting Member, and any importing Member may authorize any other importing Member, to represent its interests and to cast its votes at any meeting of the Council. In this case the limitation provided for in paragraph 5 of article 10 shall not apply. 3. A Member authorized by another Member to cast the votes held by the authorizing Member under article 10 shall cast such votes in accordance with the instructions of the authorizing Member. ELI: http://data.europa.eu/eli/agree_internation/2026/1198/oj 7/39EN OJ L, 15.6.2026 Article 12 Decisions of the Council 1. The Council shall endeavour to take all decisions and to make all recommendations by consensus. If consensus cannot be reached, the Council shall take decisions and make recommendations by a special vote, according to the following procedures: (a) If the majority required by the special vote is not obtained because of the negative vote of more than three exporting or more than three importing Members, the proposal shall be considered as rejected; (b) If the majority required by the special vote is not obtained because of the negative vote of three or less exporting or three or less importing Members, the proposal shall be put to a vote again within 48 hours; and (c) If the majority required by the special vote is again not obtained, the proposal shall be considered as rejected. 2. In arriving at the number of votes necessary for any of the decisions or recommendations of the Council, votes of Members abstaining shall not be taken into consideration. 3. Members are committed to accept as binding all decisions of the Council under the provisions of this Agreement. Article 13 Cooperation with other organizations 1. The Council shall make whatever arrangements are appropriate for consultation or cooperation with the United Nations and its organs, in particular the United Nations Conference on Trade and Development, and with the Food and Agriculture Organization of the United Nations and such other specialized agencies of the United Nations, the World Trade Organization and intergovernmental organizations as may be appropriate. 2. The Council, bearing in mind the particular role of the United Nations Conference on Trade and Development in international commodity trade, shall, as appropriate, keep that organization informed of its activities and programmes of work. 3. The Council or the Secretariat may also make whatever arrangements are appropriate for maintaining effective contact with national farmer organizations through national sector management structures, as well as with traders and manufacturers. 4. The Council shall seek to involve the international financial agencies and other parties with an interest in the world cocoa economy in its work on cocoa production and consumption policy. 5. The Council may seek to cooperate with other relevant experts in cocoa matters. 6. Where appropriate, the Executive Director may, on behalf of the Organization, enter into a memorandum of understanding on matters of collaboration with other organizations, with the prior approval of the Council. Article 14 Invitation and admission of observers 1. The Council may invite any non-Member State to attend any of its meetings as an observer. 2. The Council may also invite any of the organizations referred to in article 13 to attend any of its meetings as an observer. 8/39 ELI: http://data.europa.eu/eli/agree_internation/2026/1198/ojEN OJ L, 15.6.2026 3. The Council may also invite non-governmental organizations having relevant expertise in aspects of the cocoa sector, as observers. 4. For each of its sessions, the Council shall decide on the attendance of observers, including, on an ad hoc basis, non-governmental organizations having relevant expertise in aspects of the cocoa sector, in conformity with the conditions set out in the administrative rules of the Organization. Article 15 Quorum 1. The quorum for the opening meeting of any session of the Council shall be constituted by the presence of at least five exporting Members and a majority of importing Members, provided that such Members together hold in each category at least two thirds of the total votes of the Members in that category. 2. If there is no quorum in accordance with paragraph 1 of this article on the day appointed for the opening meeting of any session, on the second day, and throughout the remainder of the session, the quorum for the opening session shall be constituted by the presence of exporting and importing Members holding a simple majority of the votes in each category. 3. The quorum for meetings subsequent to the opening meeting of any session pursuant to paragraph 1 of this article shall be that prescribed in paragraph 2 of this article. 4. Representation in accordance with paragraph 2 of article 11 shall be considered as presence. CHAPTER V The Secretariat of the Organization Article 16 The Executive Director and the staff of the Organization 1. The Secretariat shall consist of the Executive Director and the staff. 2. The Council shall appoint the Executive Director for a period of five years, which may be renewed once only for a further five-year term. 3. The Executive Director shall be the chief administrative officer of the Organization and shall be responsible to the Council for the administration and operation of this Agreement in accordance with the decisions of the Council. In case of vacancy or in the absence of the Executive Director for a period exceeding six months, the Council will appoint an interim Executive Director of the Organization. 4. The staff of the Organization shall be responsible to the Executive Director. 5. The Executive Director shall appoint the staff in accordance with regulations to be established by the Council. In drawing up such regulations, the Council shall have regard to those applying to officials of similar intergovernmental organizations. Staff appointments shall be made insofar as is practicable from exporting and importing Members. 6. Neither the Executive Director nor the staff shall have any financial interest in the cocoa industry, the cocoa trade, cocoa transportation or cocoa publicity. 7. In the performance of their duties, the Executive Director and the staff shall neither seek nor receive instructions from any Member or from any other authority external to the Organization. They shall refrain from any action which might reflect on their position as international officials responsible only to the Organization. Each Member undertakes to respect the exclusively international character of the responsibilities of the Executive Director and the staff and not to seek to influence them in the discharge of their responsibilities. ELI: http://data.europa.eu/eli/agree_internation/2026/1198/oj 9/39EN OJ L, 15.6.2026 8. No information concerning the operation or administration of this Agreement shall be revealed by the Executive Director or the staff of the Organization, except as may be authorized by the Council or as is necessary for the proper discharge of their duties under this Agreement. Article 17 Work programme 1. At the first session of the Council, after the entry into force of this agreement, the Executive Director shall submit a five-year strategic plan for review and approval by the Council. One year before the expiry of the five-year strategic plan, the Executive Director shall present a new draft of the five-year strategic plan to the Council. 2. At its last session of each cocoa year, and on the recommendation of the Economics Committee, the Council shall adopt a work programme for the Organization for the coming year prepared by the Executive Director. The work programme shall include projects, initiatives and activities to be undertaken by the Organization. The Executive Director shall implement the work programme. 3. During its last meeting of each cocoa year, the Economics Committee shall evaluate the implementation of the work programme for the current year on the basis of a report by the Executive Director. The Economics Committee shall report its findings to the Council. Article 18 Annual report The Council shall publish an annual report. CHAPTER VI The Administration and Finance Committee Article 19 Establishment of the Administration and Finance Committee 1. An Administration and Finance Committee is hereby established. The Committee shall: (a) Supervise, on the basis of a budget proposal presented 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 which the Council assigns to it, including the monitoring of income and expenditure and matters related to the administration of the Organization. 2. The Administration and Finance Committee shall submit recommendations on the above matters to the Council. 3. The Council shall establish rules and regulations of the Administration and Finance Committee. Article 20 Composition of the Administration and Finance Committee 1. The Administration and Finance Committee shall consist of six exporting Members and six importing Members. 10/39 ELI: http://data.europa.eu/eli/agree_internation/2026/1198/ojEN OJ L, 15.6.2026 2. Each Member of the Administration and Finance Committee shall appoint one representative and if it so desires, one or more alternates. Members in each category shall be elected by the Council. Membership shall be for a two-year period, renewable. 3. The Chairman and Vice-Chairman shall be elected by the Council from among the representatives of the Administration and Finance Committee, for a period of two years. The posts of Chairman and Vice-Chairman shall alternate between exporting and importing Members. The Chairman and the Vice-Chairman shall not be paid. Article 21 Meetings of the Administration and Finance Committee 1. The meetings of the Administration and Finance Committee shall be open to all other Members of the Organization as observers. 2. The Administration and Finance Committee shall normally meet at the headquarters of the Organization, unless it decides otherwise. If, on the invitation of any Member, the Administration and Finance Committee meets elsewhere than at the headquarters of the Organization, that Member shall pay the additional costs involved, as defined in the administrative rules of the Organization. 3. The Administration and Finance Committee shall normally meet twice a year and report on its proceedings to the Council. 4. The Administration and Finance Committee can meet in virtual or hybrid sessions whenever it so decides or at the request of at least two Members having at least 200 votes each. CHAPTER VII Finance Article 22 Finance 1. There shall be kept an administrative account for the administration of this Agreement. The expenses necessary for the administration of this Agreement shall be brought into the administrative account and shall be met by annual contributions from Members assessed in accordance with article 24. If, however, a Member requests special services, the Council may decide to accede to the request and shall require that Member to pay for them. 2. The Council may authorize the Executive Director to open separate accounts for specific purposes in accordance with the objectives of the present Agreement. These accounts shall be financed through voluntary contributions from Members and other bodies. 3. The financial year of the Organization shall be the same as the cocoa year. 4. The expenses of delegations to the Council, to the Administration and Finance Committee, to the Economics Committee and to any of the Committees or Working Groups of the Council shall be met by the Members concerned. 5. If the financial position of the Organization is or appears likely to be insufficient to finance the remainder of the cocoa year, the Executive Director shall call a special session of the Council within 15 days unless the Council is otherwise scheduled to meet within 30 calendar days. ELI: http://data.europa.eu/eli/agree_internation/2026/1198/oj 11/39EN OJ L, 15.6.2026 Article 23 Liabilities of Members A Member’s liability to the Council and to other Members is limited to the extent of its obligations regarding contributions specifically provided for in this Agreement. Third parties dealing with the Council shall be deemed to have notice of the provisions of this Agreement regarding the powers of the Council and the obligations of the Members, in particular, paragraph 2 of article 7 and the first sentence of this article. Article 24 Approval of the administrative budget and assessment of contributions 1. The Council shall approve the format of the administrative budget. 2. During the second half of each financial year, the Council shall approve the administrative budget of the Organization for the following financial year, and shall assess the contribution of each Member to that budget. 3. The contribution of each Member to the administrative budget for each financial year shall be in the proportion which the number of its votes at the time the administrative budget for that financial year is approved bears to the total votes of all the Members. For the purpose of assessing contributions, the votes of each Member shall be calculated without regard to the suspension of any Member’s voting rights and any redistribution of votes resulting therefrom. 4. The initial contribution of any Member joining the Organization after the entry into force of this Agreement shall be assessed by the Council on the basis of the number of votes to be held by that Member and the whole period of the current financial year, but the assessment made upon other Members for the current financial year shall not be altered. 5. If this Agreement enters into force before the beginning of the first full financial year, the Council shall, at its first session, approve an administrative budget covering the period up to the commencement of the first full financial year. Article 25 Payment of contributions to the administrative budget 1. Contributions to the administrative budget for each financial year shall become due on the first day of that financial year, shall be payable in freely convertible currencies, shall be exempt from foreign exchange restrictions. Contributions of Members in respect of the financial year in which they join the Organization shall be due on the date on which they become Members. 2. Contributions to the administrative budget approved under paragraph 4 of article 24 shall be payable within three months of the date of assessment. 3. If, at the end of two months after the beginning of the financial year or, in the case of a new Member, one month after the Council has assessed its contribution, a Member has not paid its full contribution to the administrative budget, the Executive Director shall request that Member to make payment as quickly as possible. If, at the expiration of one month after the request of the Executive Director, that Member has still not paid its contribution, the voting rights of that Member in the Council, the Administration and Finance Committee and the Economics Committee shall be suspended until such time as it has made full payment of the contribution. 4. A Member whose voting rights have been suspended under paragraph 3 of this article shall not be deprived of any of its other rights or relieved of any of its obligations under this Agreement unless the Council decides otherwise. It shall remain liable to pay its contribution and to meet any other financial obligations under this Agreement. 5. The Council shall consider the question of membership of any Member with two years’ contributions unpaid, and may decide that this Member shall cease to enjoy the rights of membership and/or cease to be assessed for budgetary purposes. It shall remain liable to meet any other of its financial obligations under this Agreement. By payment of the arrears the Member will regain the rights of membership. Any payments made by Members in arrears will be credited first to those arrears, rather than to current contributions. 12/39 ELI: http://data.europa.eu/eli/agree_internation/2026/1198/ojEN OJ L, 15.6.2026 Article 26 Audit and publication of accounts 1. As soon as possible, but not later than six months after the close of each financial year, the statement of the Organization’s accounts for that financial year and the balance sheet at the close of that financial year under the accounts referred to in article 22 shall be audited. The audit shall be carried out by an independent auditor of recognized standing, to be elected by the Council for each financial year. 2. The terms of appointment of the independent auditor of recognized standing, as well as the intentions and objectives of the audit, shall be laid down in the financial regulations of the Organization. The audited statement of the Organization’s accounts and the audited balance sheet shall be presented to the Council at its next regular session for approval. 3. The audited statement approved by the Council shall be published within one month of the meeting at which it was approved. CHAPTER VIII The Economics Committee Article 27 Establishment of the Economics Committee 1. An Economics Committee is hereby established. The Economics Committee shall: (a) Review cocoa statistics and statistical analyses of cocoa production and consumption, stocks and grindings, international trade and cocoa prices; (b) Examine analyses of market trends and of other factors influencing such trends, with particular regard to cocoa supply and demand, including the effect of the use of cocoa butter substitutes on consumption and on the international cocoa trade; (c) Analyse information on market access for cocoa and cocoa products in producing and consuming countries including information on tariff and non-tariff barriers as well as the activities undertaken by Members with the view to promoting the elimination of trade barriers; (d) Examine and recommend to the Council projects for funding by multilateral and bilateral donors; (e) Address issues regarding the economic dimension of sustainable development in the cocoa economy; (f) Review the draft annual work programme of the Organization in cooperation with the Administration and Finance Committee as appropriate; (g) Prepare international cocoa conferences and seminars, at the request of the Council; (h) Review the Quarterly Bulletins of Cocoa Statistics prepared by the Secretariat; (i) Deal with any other matters as approved by the Council. 2. The Economics Committee shall submit recommendations on the above matters to the Council. ELI: http://data.europa.eu/eli/agree_internation/2026/1198/oj 13/39EN OJ L, 15.6.2026 3. The Council shall establish the rules and regulations of the Economics Committee. Article 28 Composition of the Economics Committee 1. The Economics Committee shall be open to all Members of the Organization. 2. The Chairman and the Vice-Chairman of the Economics Committee shall be elected from among the Members for a non-renewable period of two years. The posts of Chairman and Vice-Chairman shall alternate between exporting and importing Members. The Chairman and the Vice-Chairman shall not be paid. Article 29 Meetings of the Economics Committee 1. The Economics Committee shall normally meet at the headquarters of the Organization, unless it decides otherwise. If, on the invitation of any Member, the Economics Committee meets elsewhere than at the headquarters of the Organization, that Member shall pay the additional costs involved, as defined in the administrative rules of the Organization. 2. The Economics Committee shall normally meet twice a year coinciding with the sessions of the Council. The Economics Committee shall report on its proceedings to the Council. 3. The Economics Committee can meet in virtual or hybrid sessions whenever it so decides or at the request of at least two Members having at least 200 votes each. CHAPTER IX Market transparency Article 30 Information and market transparency 1. The Organization shall act as a global information centre for the efficient collection, collation, exchange and dissemination of statistical information and studies on all matters relating to cocoa and cocoa products. To this effect, the Organization shall: (a) Maintain up-to-date statistical information on world production, grindings, consumption, exports, re-exports, imports, prices and stocks of cocoa and cocoa products; (b) Request, as appropriate, technical information on the cultivation, marketing, transportation, processing, utilization and consumption of cocoa. 2. The Council may request Members to provide the information related to cocoa which it deems necessary for its functioning, including information on government policies, taxation, national standards, regulations and legislation relating to cocoa. 3. In order to promote market transparency, Members shall, insofar as possible, provide the Executive Director with the relevant statistics within a reasonable time and in as detailed and accurate a manner as is practicable. 4. If a Member fails to supply, or finds difficulty in supplying, within a reasonable time, statistical information required by the Council for the proper functioning of the Organization, the Council shall request the Member concerned to explain the reasons for non-compliance. If it is found that assistance is needed in the matter, the Council may offer the necessary measures of support to overcome existing difficulties. 14/39 ELI: http://data.europa.eu/eli/agree_internation/2026/1198/ojEN OJ L, 15.6.2026 5. The Secretariat shall publish at an appropriate date, but at least twice every cocoa year, projections on cocoa production and cocoa grindings and cocoa stocks. The Secretariat may not publish any information likely to disclose the operation of individuals or commercial entities that produce, stock, process or distribute cocoa. The Secretariat may use relevant information from other official sources in order to follow the evolution of the market as well as assess or evaluate the current and possible future cocoa production and consumption levels. Article 31 Stocks 1. In order to facilitate the assessment of world cocoa stocks with a view to ensuring greater market transparency, each Member shall provide the Secretariat with information on stocks of cocoa beans and cocoa products held in its country. 2. The Executive Director shall take the necessary steps to obtain the full cooperation of the private sector in this exercise, whilst fully respecting the issues of confidentiality associated with this information. The Executive Director shall cooperate with the respective Government in obtaining the data. 3. The Executive Director shall make an annual report to the Economics Committee on the information received on the levels of stocks of cocoa beans and cocoa products worldwide. Article 32 Cocoa substitutes 1. Members recognize that the use of substitutes may have negative effects on the expansion of cocoa consumption and the development of a sustainable cocoa economy. In this regard, Members shall take full account of the recommendations and decisions of competent international bodies, such as the provisions of the Codex Alimentarius. 2. The Executive Director shall make annual reports to the Economics Committee on the development of the situation. On the basis of these reports, the Economics Committee shall assess the situation and, if necessary, make recommendations to the Council for appropriate decisions. Article 33 Indicator price 1. For the purposes of this Agreement and, in particular, for monitoring the evolution of the cocoa market, the Executive Director shall compute and publish the daily ICCO indicator price for cocoa beans. This price shall be expressed in United States dollars per tonne as well as in Euros and Pounds Sterling per tonne. 2. The ICCO indicator price shall be the average of the daily quotations for cocoa beans of the nearest three active futures trading months on the London market (ICE Futures Europe) and on the New York market (ICE Futures US) at the time of the London close. The London prices shall be converted into United States dollars per tonne by using the current six months forward rate of exchange in London at closing time. The United States dollar-denominated average of the London and New York prices shall be converted into its Euro and Pound Sterling equivalents by using the spot rates of exchange in London at closing time. The Council shall decide the method of calculation to be used when the quotations on only one of these two cocoa markets are available or when the London Foreign Exchange market is closed. The time for shift to the next three-month period shall be the fifteenth of the month immediately preceding the nearest active maturing month. 3. The Council may decide on any other method of computing the ICCO indicator price if it considers such other method to be more satisfactory than that prescribed in this article. ELI: http://data.europa.eu/eli/agree_internation/2026/1198/oj 15/39EN OJ L, 15.6.2026 Article 34 Conversion factors 1. For the purpose of determining the beans equivalent of cocoa products, the following shall be the conversion factors: cocoa butter 1,33; cocoa cake and powder 1,18; cocoa paste/liquor and nibs 1,25. The Council may determine, if necessary, that other products containing cocoa are cocoa products. The conversion factors for cocoa products other than those for which conversion factors are set out in this paragraph shall be fixed by the Council. 2. The Council shall, whenever necessary and at least every three years, revise the conversion factors in paragraph 1 of this article. Article 35 Scientific research and development The Council shall encourage and promote scientific research and development in the areas of cocoa production, farmer livelihood, food safety, food quality, nutrition, traceability, climate change, transportation, storage, processing, marketing and consumption as well as the dissemination and practical application of the results obtained in this field. To this end, the Organization may cooperate with international organizations, research institutions and the private sector. CHAPTER X Market development Article 36 Market analyses 1. The Economics Committee shall analyse trends and prospects for development in cocoa-producing and -consuming sectors, as well as the movement of stocks and prices, and shall identify any market imbalances at an early stage. 2. At its first session after the start of a new cocoa year, the Economics Committee shall examine annual forecasts of world production and consumption for the next five cocoa years. The forecasts provided shall be reviewed and revised, if necessary, every year. 3. The Economics Committee shall submit detailed reports to each regular session of the Council. In the event of an expected imbalance, the Council will adopt recommendations aiming at bringing back market equilibrium. The measures must, however, not put competition out of play. Article 37 Processing at origin and consumption promotion 1. Members shall encourage local processing of cocoa at origin, including finished products, and promote local, subregional and regional markets of these products. 2. Members undertake to encourage the consumption of chocolate and cocoa products and to develop markets for cocoa, including in exporting Member countries. Each Member shall be responsible for the means and methods it employs for that purpose. 3. Members undertake to improve the quality and safety of cocoa, while ensuring that measures taken to that end are consistent with the World Trade Organization Agreement on the Application of Sanitary and Phytosanitary Standards and Agreement on Technical Barriers to Trade. 16/39 ELI: http://data.europa.eu/eli/agree_internation/2026/1198/ojEN OJ L, 15.6.2026 4. All Members shall endeavour to remove or reduce substantially domestic obstacles to the expansion of cocoa consumption. In this regard, Members shall notify the Council about all relevant rules and measures. 5. The Economics Committee shall establish a programme for the promotion activities of the Organization which may comprise information campaigns, prizes, art competitions, research, capacity-building, technical assistance and studies related to the production and consumption of cocoa. The Organization shall seek the collaboration of the private sector for the implementation of those activities. 6. The promotion activities shall be included in the annual work programme of the Organization and may be financed by resources pledged by Members, non-Members, other organizations and the private sector. 7. Members undertake to implement strategies to ensure cocoa beans’ traceability as well as strategies to guarantee cocoa quality. 8. Members undertake to develop instruments aimed at promoting consumption and capturing market value, by highlighting differential features such as aroma profiles, sustainability and origin, among others. Article 38 Studies, surveys and reports 1. In order to assist Members, the Council shall encourage the preparation of studies, surveys, technical reports and other documents on the economics of cocoa production and distribution, including trends and projections, the impact of governmental measures in exporting and importing countries on the production and consumption of cocoa, the analysis of the cocoa value chain, approaches to managing financial and other risks, methods for the promotion of innovation through financial instruments, digital solutions and technology transfer, sustainability aspects of the cocoa sector, impact analysis of certification procedure on smallholders, opportunities for expansion of cocoa consumption for traditional and possible new uses and markets, links between cocoa and health and the effects of the operation of this Agreement on exporters and importers of cocoa, including their terms of trade. 2. It may also promote studies likely to contribute to greater market transparency and facilitate the development of a balanced and sustainable world cocoa economy. 3. In order to carry out the provisions of paragraphs 1 and 2 of this article, the Council, upon recommendations of the Economics Committee, shall adopt the list of studies, surveys and reports to be included in the annual work programme in conformity with the provisions of article 17 of this Agreement. These activities may be financed either from provisions within the administrative budget or from other sources. CHAPTER XI Fine flavour cocoa Article 39 Fine flavour cocoa 1. The Council shall, at its first session following the entry into force of this Agreement, review annex C of this Agreement and, if necessary, revise it by determining the proportions of fine flavour cocoa beans exports as a function of total cocoa beans exports in which the exporting countries listed therein export exclusively or partially fine flavour cocoa beans. Thereafter, the Council may at any time during the lifetime of this Agreement review annex C and, if necessary, revise it. The Council shall seek expert advice on this matter, as appropriate. In such cases, the composition of the Panel of Experts should, as far as possible, ensure a balance between experts from importing countries and experts from exporting countries. The Council shall decide on the composition of and on the procedures to be followed by the Panel of Experts. ELI: http://data.europa.eu/eli/agree_internation/2026/1198/oj 17/39EN OJ L, 15.6.2026 2. The Economics Committee may make proposals for the Organization to devise and implement a system of statistics on production of and trade in fine flavour cocoa. 3. Giving due consideration to the importance of fine flavour cocoa, Members shall examine, and adopt as appropriate, projects relating to fine flavour cocoa in accordance with the provisions of articles 35, 37, 40, 42, 43, 44 and 45. CHAPTER XII Projects Article 40 Projects 1. Members may submit project proposals which contribute to the achievement of the objectives of this Agreement and the priority areas for work identified in the five-year strategic plan referred to in paragraph 1 of article 17. 2. The Economics Committee shall examine project proposals and make recommendations to the Council, according to the mechanisms and procedures for submission, appraisal, approval, prioritization and funding of projects, as established by the Council. The Council may, as appropriate, establish mechanisms and procedures for the implementation and monitoring of projects, as well as the wide dissemination of their results. 3. At each meeting of the Economics Committee, the Executive Director shall report on the status of all projects approved by the Council, including those awaiting financing, under implementation or completed. A summary shall be presented to the Council pursuant to paragraph 2 of article 27. 4. As a general rule, the Organization shall act as supervisory body during project execution. The overhead costs incurred by the Organization for the preparation, management, supervision and evaluation of projects shall be included in the total costs of projects. These overhead costs shall not exceed 10 per cent of the total costs of any project. Article 41 Relationship with multilateral and bilateral donors 1. The Organization shall endeavour to cooperate with international organizations, as well as with multilateral and bilateral donor agencies, in order to obtain financing for programmes and projects of interest to the cocoa economy as appropriate. 2. Under no circumstances shall the Organization undertake any financial obligations related to projects, either on its own behalf or in the name of Members. No Member of the Organization shall be responsible by reason of its membership of the Organization for any liability arising from borrowing or lending by any other Member or entity in connection with such projects. CHAPTER XIII Sustainable development Article 42 Sustainable cocoa economy 1. Members shall make all necessary efforts to accomplish a sustainable cocoa economy, taking into account the sustainable development principles and objectives contained, inter alia, in all relevant international agreements, programmes or declarations to which they are party. 18/39 ELI: http://data.europa.eu/eli/agree_internation/2026/1198/ojEN OJ L, 15.6.2026 2. The Organization shall, upon request, assist Members to fulfil their goals in the development of a sustainable cocoa economy in accordance with article 1, paragraph (f) and article 2, paragraph 15, as well as articles 43, 44 and 45. 3. The Organization shall serve as a focal point for a permanent dialogue amongst stakeholders as appropriate to foster the development of a sustainable cocoa economy. 4. The Council shall adopt and periodically review programmes and projects related to a sustainable cocoa economy and in accordance with paragraph 1 of this article. 5. The Organization shall actively seek the assistance and support of multilateral and bilateral donors for the execution of programmes, projects and activities aimed at achieving a sustainable cocoa economy. 6. Nothing in this Agreement shall prejudice the rights and obligations of the World Trade Organization Members under the World Trade Organization Agreement. Article 43 Economic sustainability 1. Members shall develop effective policies and programmes to improve productivity, enhance market access and improve market transparency to achieve a living income for cocoa farmers. 2. Members shall ensure that, through these policies and programmes, cocoa farmers obtain remunerative prices for their cocoa on local, national and international cocoa markets. 3. In the event of a significant decline in cocoa prices, Members are committed to working together to remedy the cause of the decline, in accordance with article 36. 4. Members shall develop and support an institutional framework on human capacity-building that supports cocoa producers’ diversification on-farm and off-farm to improve their financial resilience and their income. 5. Members shall encourage and support cocoa farmers to form strong and efficient farmers’ organizations to improve their marketing bargaining powers as well as to develop niche markets for high quality so as to empower them to earn the highest value for their cocoa. Article 44 Social sustainability 1. Members are committed to improving the standards of living of cocoa producers, especially the living income and working conditions of populations engaged in the cocoa sector. 2. Members are committed to fighting child labour, bearing in mind recognized principles and applicable international labour standards. This includes committing to eliminating the worst forms of child labour. 3. Members are committed to contributing to the achievement of gender equality and youth inclusiveness by encouraging and supporting the participation of women and the younger generations of farmers in cocoa production and trade. Article 45 Environmental sustainability 1. Members are committed to fighting deforestation within a landscape approach combining natural resources management with environmental and livelihood considerations. ELI: http://data.europa.eu/eli/agree_internation/2026/1198/oj 19/39EN OJ L, 15.6.2026 2. Recognizing the role played by cocoa in developing and preserving ecosystems, the Organization shall support reforestation, afforestation and agroforestry, to enhance forest carbon stocks and removals, and to strengthen the global response to climate change, while offering farmers the opportunity to provide ecological services and receive corresponding compensations, especially commensurate carbon credits. CHAPTER XIV The Consultative Board on the World Cocoa Economy Article 46 Establishment of the Consultative Board on the World Cocoa Economy 1. A Consultative Board on the World Cocoa Economy (herein after called the Board) is hereby established to encourage the active participation of experts from the private sector and from civil society in the work of the Organization and to promote a continuous dialogue among experts from the public and private sectors. 2. The Board shall be an advisory body which advises the Council on issues of general and strategic interest to the cocoa sector, which include: (a) The long-term structural developments in supply and demand; (b) The ways and means of strengthening the position of cocoa farmers, with a view to improving their livelihoods; (c) Proposals to encourage the sustainable production, trade and use of cocoa; (d) The development of a sustainable cocoa economy; (e) The elaboration of the modalities and frameworks for promotion of consumption; (f) The enhancement of the safety of marketable cocoa; and (g) Any other cocoa-related matters within the scope of the Agreement. 3. The Board shall assist the Council in gathering information on production, consumption and stocks. 4. The Board shall submit its recommendations on the above matters to the Council for consideration. 5. The Board may set up ad hoc working groups to assist in fulfilling its mandate provided that their operating costs have no budgetary implications for the Organization. 6. Upon its establishment, the Board shall draw up its own internal rules and work programme and recommend them for adoption by the Council. Article 47 Membership and meetings of the Consultative Board on the World Cocoa Economy 1. The Consultative Board on the World Cocoa Economy shall be composed of experts from all sectors of the cocoa economy, chosen from among exporting and importing Member countries of the Organization. 2. These experts shall be appointed by the Council every two years. The Board shall, as much as possible, be composed of a balanced membership of experts: at least three representatives from different exporting Member countries and three representatives from different importing Member countries of the Organization. Each member of the Board may designate one alternate. 20/39 ELI: http://data.europa.eu/eli/agree_internation/2026/1198/ojEN OJ L, 15.6.2026 3. A Chairman and a Vice-Chairman of the Board shall be chosen by the Board members. The chairmanship shall alternate between exporting and importing Members every two cocoa years. 4. The Consultative Board on the World Cocoa Economy shall normally meet at the headquarters of the Organization, unless the Council decides otherwise. If, on invitation of any Member, the Consultative Board meets elsewhere than at the headquarters of the Organization, that Member shall pay the additional costs involved, as defined in the administrative rules of the Organization. 5. The Board shall normally meet twice a year alongside the regular sessions of the Council. The Board shall report regularly to the Economics Committee and/or Council, as appropriate, on its proceedings. 6. The meetings of the Consultative Board on the World Cocoa Economy shall be open to all Members of the Council as observers. 7. The Board may also invite eminent experts or personalities of high standing in a specific field, from the public and private sectors, having relevant expertise in aspects of the cocoa sector, to participate in a specific meeting. 8. The Board shall normally meet alongside the meetings of the ICCO Council, including when Council decides to meet in a virtual or hybrid session. CHAPTER XV Relief from obligations and differential and remedial measures Article 48 Relief from obligations in exceptional circumstances 1. The Council may relieve a Member of an obligation on account of exceptional or emergency circumstances, force majeure or international obligations under the Charter of the United Nations for territories administered under the trusteeship system. 2. The Council, in granting relief to a Member under paragraph 1 of this article, shall state explicitly the terms and conditions on which, and the period for which, the Member is relieved of the obligation and the reasons for which the relief is granted. 3. Notwithstanding the foregoing provisions of this article, the Council shall not grant relief to a Member in respect of the obligation under article 25 to pay contributions, or the consequences of a failure to pay them. 4. The basis for the calculation of the distribution of votes of an exporting Member for which the Council has recognized a case of force majeure, shall be the effective volume of its exports for the year in which the force majeure occurred and subsequently for the ensuing three years following the force majeure. Article 49 Differential and remedial measures Developing and least developed countries which are Members, whose interests are adversely affected by measures taken under this Agreement may apply to the Council for appropriate differential and remedial measures. The Council shall consider taking such appropriate measures in the light of the provisions of resolution 93 (IV) adopted by the United Nations Conference on Trade and Development. ELI: http://data.europa.eu/eli/agree_internation/2026/1198/oj 21/39EN OJ L, 15.6.2026 CHAPTER XVI Consultations, disputes and complaints Article 50 Consultations Each member shall accord full and due consideration to any representations made to it by another member concerning the interpretation or application of this Agreement and shall afford adequate opportunity for consultations. In the course of such consultations, on the request of either party and with the consent of the other, the Executive Director shall establish an appropriate conciliation procedure. The costs of such a procedure shall not be chargeable to the Organization. If such a procedure leads to a solution, this shall be reported to the Executive Director. If no solution is reached, the matter may, at the request of either party, be referred to the Council in accordance with article 51. Article 51 Disputes 1. Any dispute concerning the interpretation or application of this Agreement which is not settled by the parties to the dispute shall, at the request of either party to the dispute, be referred to the Council for decision. 2. When a dispute has been referred to the Council under paragraph 1 of this article and has been discussed, Members holding not less than one third of the total votes, or any five Members, may require the Council, before giving its decision, to seek the opinion on the issues in dispute of an ad hoc advisory panel to be constituted as described in paragraph 3 of this article. 3. (a) Unless the Council decides otherwise, the ad hoc advisory panel shall consist of: (i) Two persons, one having wide experience in matters of the kind in dispute and the other having legal standing and experience, nominated by the exporting Members; (ii) Two persons, one having wide experience in matters of the kind in dispute and the other having legal standing and experience, nominated by the importing Members; and (iii) A chairman selected unanimously by the four persons nominated under (i) and (ii) above or, if they fail to agree, by the Chairman of the Council. (b) Nationals of Members shall not be ineligible to serve on the ad hoc advisory panel. (c) Persons appointed to the ad hoc advisory panel shall act in their personal capacities and without instructions from any Government. (d) The costs of the ad hoc advisory panel shall be paid by the Organization. 4. The opinion of the ad hoc advisory panel and the reasons therefore shall be submitted to the Council, which, after considering all the relevant information, shall decide the dispute, in compliance with the provisions of article 12. 22/39 ELI: http://data.europa.eu/eli/agree_internation/2026/1198/ojEN OJ L, 15.6.2026 Article 52 Complaints and action by the Council 1. In the event of the Council noting a non-compliance in the implementation of this Agreement, the Council may act ex officio and take a decision on these deficiencies. 2. Any complaint that any Member has failed to fulfil its obligations under this Agreement shall, at the request of the Member making the complaint, be referred to the Council, which shall consider it and take a decision on the matter. 3. Any finding by the Council that a Member is in breach of its obligations under this Agreement shall be made by a simple distributed majority vote and shall specify the nature of the breach. 4. Whenever the Council, whether as a result of a complaint or otherwise, finds that a Member is in breach of its obligations under this Agreement, it may, without prejudice to such other measures as are specifically provided for in other articles of this Agreement, including article 61: (a) Suspend that Member’s voting rights in the Council; and (b) If it considers it necessary, suspend additional rights of such Member, including that of being eligible for, or of holding, office in the Council or in any of its committees, until it has fulfilled its obligations. 5. A Member whose voting rights are suspended under paragraph 3 of this article shall remain liable for its financial and other obligations under this Agreement. CHAPTER XVII Final provisions Article 53 Depositary The Secretary-General of the United Nations is hereby designated as the Depositary of this Agreement. Article 54 Signature This Agreement shall be open for signature at United Nations Headquarters from 1 October 2010 until and including 30 September 2012 by parties to the International Cocoa Agreement, 2001, and Governments invited to the United Nations Cocoa Conference, 2010. The Council under the International Cocoa Agreement, 2001, or the Council under this Agreement may, however, extend once the period of signature of this Agreement. The Council shall immediately notify the Depositary of such extension. Article 55 Ratification, acceptance, approval 1. This Agreement shall be subject to ratification, acceptance or approval by the signatory Governments in accordance with their respective constitutional procedures. Instruments of ratification, acceptance or approval shall be deposited with the Depositary. ELI: http://data.europa.eu/eli/agree_internation/2026/1198/oj 23/39EN OJ L, 15.6.2026 2. Each Contracting Party shall notify the Secretary-General of the United Nations whether it is an exporting Member or an importing Member at the time of deposit of its instrument of ratification, acceptance or approval or as soon as possible thereafter. Article 56 Accession 1. This Agreement shall be open to accession by the Government of any State entitled to sign it. 2. The Council shall determine under which of the annexes to this Agreement the acceding State is to be deemed to be listed, if such State is not listed in any of these annexes. 3. Accession shall be effected by deposit of an instrument of accession with the Depositary. Article 57 Notification of provisional application 1. A signatory Government which intends to ratify, accept or approve this Agreement or a Government which intends to accede to the Agreement, but which has not yet been able to deposit its instrument, may at any time notify the Depositary that, in accordance with its constitutional procedures and/or its domestic laws and regulations, it will apply this Agreement provisionally either when it enters into force in accordance with article 58 or, if it is already in force, at a specified date. Each Government giving such notification shall inform the Secretary-General of the United Nations whether it is an exporting Member or an importing Member at the time of giving such notification or as soon as possible thereafter. 2. A Government which has notified under paragraph 1 of this article that it will apply this Agreement either when it enters into force or at a specified date shall, from that time, be a provisional Member. It shall remain a provisional Member until the date of deposit of its instrument of ratification, acceptance, approval or accession. Article 58 Entry into force 1. This Agreement shall enter into force definitively on 1 October 2012, or any time thereafter, if by such date Governments representing at least five exporting countries accounting for at least 80 per cent of the total exports of countries listed in annex A and Governments representing importing countries having at least 60 per cent of total imports as set out in annex B have deposited their instruments of ratification, acceptance, approval or accession with the Depositary. It shall also enter into force definitively once it has entered into force provisionally and these percentage requirements are satisfied by the deposit of instruments of ratification, acceptance, approval or accession. 2. This Agreement shall enter into force provisionally on 1 January 2011 if by such date Governments representing at least five exporting countries accounting for at least 80 per cent of the total exports of countries listed in annex A and Governments representing importing countries having at least 60 per cent of total imports as set out in annex B have deposited their instruments of ratification, acceptance, approval or accession, or have notified the Depositary that they will apply this Agreement provisionally when it enters into force. Such Governments shall be provisional Members. 3. If the requirements for entry into force under paragraph 1 or paragraph 2 of this article have not been met by 1 September 2011, the Secretary-General of the United Nations Conference on Trade and Development shall, at the earliest time practicable, convene a meeting of those Governments which have deposited instruments of ratification, acceptance, approval or accession, or have notified the Depositary that they will apply this Agreement provisionally. These Governments may decide whether to put this Agreement into force definitively or provisionally among themselves, in whole or in part, on such date as they may determine or to adopt any other arrangement as they may deem necessary. 24/39 ELI: http://data.europa.eu/eli/agree_internation/2026/1198/ojEN OJ L, 15.6.2026 4. For a Government on whose behalf an instrument of ratification, acceptance, approval or accession or a notification of provisional application is deposited after the entry into force of this Agreement in accordance with paragraph 1, paragraph 2 or paragraph 3 of this article, the instrument or notification shall take effect on the date of such deposit and, with regard to notification of provisional application, in accordance with the provisions of paragraph 1 of article 57. Article 59 Reservations Reservations may not be made with respect to any of the provisions of this Agreement. Article 60 Withdrawal 1. At any time after the entry into force of this Agreement, any Member may withdraw from this Agreement by giving written notice of withdrawal to the Depositary. The Member shall immediately inform the Council of the action it has taken. 2. Withdrawal shall become effective 90 days after the notice is received by the Depositary from the Member concerned. If, as a consequence of withdrawal, membership in this Agreement falls below the requirements provided for in paragraph 1 of article 58 for its entry into force, the Council shall meet in special session to review the situation and to take appropriate decisions. Article 61 Exclusion If the Council finds, under paragraph 3 of article 52, that any Member is in breach of its obligations under this Agreement and decides further that such breach significantly impairs the operation of this Agreement, it may exclude such Member from the Organization. Ninety days after the date of the Council’s decision, that Member shall cease to be a member of the Organization. The Council shall immediately notify the concerned Member and the Depositary of any such exclusion. Article 62 Settlement of accounts with withdrawing or excluded Members The Council shall determine any settlement of accounts with a withdrawing or excluded Member. The Organization shall retain any amounts already paid by a withdrawing or excluded Member, and such Member shall remain bound to pay any amounts due from it to the Organization at the time the withdrawal or the exclusion becomes effective, except that, in the case of a Contracting Party which is unable to accept an amendment and consequently ceases to participate in this Agreement under the provisions of paragraph 2 of article 64, the Council shall determine any settlement of accounts in an equitable manner. Article 63 Duration and termination 1. This Agreement shall remain in force indefinitely, subject to paragraph 4 of this article. 2. The Council shall review the Agreement every five years and take decisions as appropriate. ELI: http://data.europa.eu/eli/agree_internation/2026/1198/oj 25/39EN OJ L, 15.6.2026 3. At the request of one or more Members, the Council may review this Agreement at any time. 4. The Council may at any time decide to terminate this Agreement. Such termination shall take effect on such date as the Council shall decide, provided that the obligations of Members under article 25 shall continue until the financial liabilities relating to the operation of this Agreement have been discharged. The Council shall notify the Depositary of any such decision. 5. Notwithstanding the termination of this Agreement by any means whatsoever, the Council shall remain in being for as long as necessary to carry out the liquidation of the Organization, settlement of its accounts and disposal of its assets. The Council shall have during that period the necessary powers for the conclusion of all administrative and financial matters. Article 64 Amendments 1. The Council may recommend an amendment of this Agreement to the Contracting Parties. The amendment shall become effective 100 days after the Depositary has received notifications of acceptance from Contracting Parties representing at least 75 per cent of the exporting Members holding at least 85 per cent of the votes of the exporting Members, and from Contracting Parties representing at least 75 per cent of the importing Members holding at least 85 per cent of the votes of the importing Members, or on such later date as the Council may have determined. The Council may fix a time within which Contracting Parties shall notify the Depositary of their acceptance of the amendment, and, if the amendment has not become effective by such time, it shall be considered withdrawn. 2. Any Member on behalf of which notification of acceptance of an amendment has not been made by the date on which such amendment becomes effective shall, as of that date, cease to participate in this Agreement, unless the Council decides to extend the period fixed for acceptance for such Member to enable it to complete its internal procedures. Such Member shall not be bound by the amendment before it has notified its acceptance thereof. 3. Immediately upon adoption of a recommendation for an amendment the Council shall communicate to the Depositary copies of the text of the amendment. The Council shall provide the Depositary with the information necessary to determine whether the notifications of acceptance received are sufficient to make the amendment effective. CHAPTER XVIII Supplementary and transitional provisions Article 65 Special Reserve Fund 1. A Special Reserve Fund shall be maintained for the sole purpose of meeting the eventual liquidation expenses of the Organization. The Council shall decide how the interest earned on this Fund will be used. 2. The Special Reserve Fund established by the Council under the International Cocoa Agreement, 1993, shall be transferred to this Agreement for the purpose set out under paragraph 1. 3. A non-Member of the International Cocoa Agreements, 1993 and 2001, which becomes a Member of this Agreement shall be required to contribute to the Special Reserve Fund. The contribution of such Member shall be assessed by the Council on the basis of the number of votes to be held by the Member. 26/39 ELI: http://data.europa.eu/eli/agree_internation/2026/1198/ojEN OJ L, 15.6.2026 Article 66 Other supplementary and transitional provisions 1. This Agreement shall be considered as a replacement of the International Cocoa Agreement, 2001. 2. All acts by or on behalf of the Organization or any of its organs under the International Cocoa Agreement, 2001, which are in effect on the date of entry into force of this Agreement and the terms of which do not provide for expiry on that date shall remain in effect unless changed under the provisions of this Agreement. 3. DONE at Geneva on 25 June 2010, the texts of this Agreement in the Arabic, Chinese, English, French, Russian and Spanish languages being equally authentic. ELI: http://data.europa.eu/eli/agree_internation/2026/1198/oj 27/39EN OJ L, 15.6.2026 ANNEX A EXPORTS OF COCOA(a)CALCULATED FOR THE PURPOSE OF ARTICLE 58 (ENTRY INTO FORCE) Average 2005/06 2006/07 2007/08 3-year period Country (b) 2005/06 - 2007/08 (tonnes) (Share) Côte d’Ivoire m 1 349 639 1 200 154 1 191 377 1 247 057 38,75 % Ghana m 648 687 702 784 673 403 674 958 20,98 % Indonesia 592 960 520 479 465 863 526 434 16,36 % Nigeria m 207 215 207 075 232 715 215 668 6,70 % Cameroon m 169 214 162 770 178 844 170 276 5,29 % Ecuador m 108 678 110 308 115 264 111 417 3,46 % Togo m 73 064 77 764 110 952 87 260 2,71 % Papua New Guinea m 50 840 47 285 51 588 49 904 1,55 % Dominican Republic m 31 629 42 999 34 106 36 245 1,13 % Guinea 18 880 17 620 17 070 17 857 0,55 % Peru 15 414 11 931 11 178 12 841 0,40 % Brazil m 57 518 10 558 - 32 512 11 855 0,37 % Venezuela (Bolivarian Republic m 11 488 12 540 4 688 9 572 0,30 % of) Sierra Leone 4 736 8 910 14 838 9 495 0,30 % Uganda 8 270 8 880 8 450 8 533 0,27 % United Republic of Tanzania 6 930 4 370 3 210 4 837 0,15 % Solomon Islands 4 378 4 075 4 426 4 293 0,13 % Haiti 3 460 3 900 4 660 4 007 0,12 % Madagascar 2 960 3 593 3 609 3 387 0,11 % Sao Tome and Principe 2 250 2 650 1 500 2 133 0,07 % Liberia 650 1 640 3 930 2 073 0,06 % Equatorial Guinea 1 870 2 260 1 990 2 040 0,06 % 28/39 ELI: http://data.europa.eu/eli/agree_internation/2026/1198/ojEN OJ L, 15.6.2026 Average 2005/06 2006/07 2007/08 3-year period Country (b) 2005/06 - 2007/08 (tonnes) (Share) Vanuatu 1 790 1 450 1 260 1 500 0,05 % Nicaragua 892 750 1 128 923 0,03 % Democratic Republic of the 900 870 930 900 0,03 % Congo Honduras 1 230 806 - 100 645 0,02 % Congo 90 300 1 400 597 0,02 % Panama 391 280 193 288 0,01 % Viet Nam 240 70 460 257 0,01 % Grenada 80 218 343 214 0,01 % Gabon m 160 99 160 140 — Trinidad and Tobago m 193 195 - 15 124 — Belize 60 30 20 37 — Dominica 60 20 0 27 — Fiji 20 10 10 13 — Total (c) 3 376 836 3 169 643 3 106 938 3 217 806 100,00 % Notes: (a) Three-year average, 2005/06 – 2007/08 of net exports of cocoa beans plus net exports of cocoa products converted to beans equivalent using the following conversion factors: cocoa butter 1,33; cocoa powder and cake 1,18; cocoa paste/liquor 1,25. (b) List restricted to countries which individually exported cocoa in the three-year period 2005/06 to 2007/08, based on information available to the ICCO Secretariat. (c) Totals may differ from the sum of constituents due to rounding. m Member of the International Cocoa Agreement, 2001 as at 9 November 2009. — nil, negligible or less than the unit employed Source: International Cocoa Organization, Quarterly Bulletin of Cocoa Statistics, Vol. XXXV, No. 3, Cocoa year 2008/09. ELI: http://data.europa.eu/eli/agree_internation/2026/1198/oj 29/39EN OJ L, 15.6.2026 ANNEX B IMPORTS OF COCOA(a)CALCULATED FOR THE PURPOSE OF ARTICLE 58 (ENTRY INTO FORCE) Average 2005/06 2006/07 2007/08 3-year period Country (b) 2005/06 - 2007/08 (tonnes) (Share) European Union: m 2 484 235 2 698 016 2 686 041 2 622 764 53,24 % Austria 20 119 26 576 24 609 23 768 0,48 % Belgium/Luxembourg 199 058 224 761 218 852 214 224 4,35 % Bulgaria 12 770 14 968 12 474 13 404 0,27 % Cyprus 282 257 277 272 0,01 % Czechia 12 762 14 880 16 907 14 850 0,30 % Denmark 15 232 15 493 17 033 15 919 0,32 % Estonia 37 141 14 986 - 1 880 16 749 0,34 % Finland 10 954 10 609 11 311 10 958 0,22 % France 388 153 421 822 379 239 396 405 8,05 % Germany 487 696 558 357 548 279 531 444 10,79 % Greece 16 451 17 012 17 014 16 826 0,34 % Hungary 10 564 10 814 10 496 10 625 0,22 % Ireland 22 172 19 383 17 218 19 591 0,40 % Italy 126 949 142 128 156 277 141 785 2,88 % Latvia 2 286 2 540 2 434 2 420 0,05 % Lithuania 5 396 4 326 4 522 4 748 0,10 % Malta 34 46 81 54 — Netherlands 581 459 653 451 681 693 638 868 12,97 % Poland 103 382 108 275 113 175 108 277 2,20 % Portugal 3 643 4 179 3 926 3 916 0,08 % 30/39 ELI: http://data.europa.eu/eli/agree_internation/2026/1198/ojEN OJ L, 15.6.2026 Average 2005/06 2006/07 2007/08 3-year period Country (b) 2005/06 - 2007/08 (tonnes) (Share) Romania 11 791 13 337 12 494 12 541 0,25 % Slovakia 15 282 16 200 13 592 15 025 0,30 % Slovenia 1 802 2 353 2 185 2 113 0,04 % Spain 150 239 153 367 172 619 158 742 3,22 % Sweden 15 761 13 517 14 579 14 619 0,30 % United Kingdom 232 857 234 379 236 635 234 624 4,76 % United States 822 314 686 939 648 711 719 321 14,60 % Malaysia (c) m 290 623 327 825 341 462 319 970 6,49 % Russian Federation m 163 637 176 700 197 720 179 352 3,64 % Canada 159 783 135 164 136 967 143 971 2,92 % Japan 112 823 145 512 88 403 115 579 2,35 % Singapore 88 536 110 130 113 145 103 937 2,11 % China 77 942 72 532 101 671 84 048 1,71 % Switzerland m 74 272 81 135 90 411 81 939 1,66 % Türkiye 73 112 84 262 87 921 81 765 1,66 % Ukraine 63 408 74 344 86 741 74 831 1,52 % Australia 52 950 55 133 52 202 53 428 1,08 % Argentina 33 793 38 793 39 531 37 372 0,76 % Thailand 26 737 31 246 29 432 29 138 0,59 % Philippines 18 549 21 260 21 906 20 572 0,42 % Mexico (c) 19 229 15 434 25 049 19 904 0,40 % Republic of Korea 17 079 24 454 15 972 19 168 0,39 % ELI: http://data.europa.eu/eli/agree_internation/2026/1198/oj 31/39EN OJ L, 15.6.2026 Average 2005/06 2006/07 2007/08 3-year period Country (b) 2005/06 - 2007/08 (tonnes) (Share) South Africa 15 056 17 605 16 651 16 437 0,33 % Iran (Islamic Republic of) 10 666 14 920 22 056 15 881 0,32 % Colombia (c) 16 828 19 306 9 806 15 313 0,31 % Chile 13 518 15 287 15 338 14 714 0,30 % India 9 410 10 632 17 475 12 506 0,25 % Israel 11 437 11 908 13 721 12 355 0,25 % New Zealand 11 372 12 388 11 821 11 860 0,24 % Serbia 10 864 11 640 12 505 11 670 0,24 % Norway 10 694 11 512 12 238 11 481 0,23 % Egypt 6 026 10 085 14 036 10 049 0,20 % Algeria 9 062 7 475 12 631 9 723 0,20 % Croatia 8 846 8 904 8 974 8 908 0,18 % Syrian Arab Republic 7 334 7 229 8 056 7 540 0,15 % Tunisia 6 019 7 596 8 167 7 261 0,15 % Kazakhstan 6 653 7 848 7 154 7 218 0,15 % Saudi Arabia 6 680 6 259 6 772 6 570 0,13 % Belarus 8 343 3 867 5 961 6 057 0,12 % Morocco 4 407 4 699 5 071 4 726 0,10 % Pakistan 2 123 2 974 2 501 2 533 0,05 % Costa Rica 1 965 3 948 1 644 2 519 0,05 % Uruguay 2 367 2 206 2 737 2 437 0,05 % Lebanon 2 059 2 905 2 028 2 331 0,05 % 32/39 ELI: http://data.europa.eu/eli/agree_internation/2026/1198/ojEN OJ L, 15.6.2026 Average 2005/06 2006/07 2007/08 3-year period Country (b) 2005/06 - 2007/08 (tonnes) (Share) Guatemala 1 251 2 207 1 995 1 818 0,04 % Bolivia (Plurinational State of) (c) 1 282 1 624 1 927 1 611 0,03 % Sri Lanka 1 472 1 648 1 706 1 609 0,03 % El Salvador 1 248 1 357 1 422 1 342 0,03 % Azerbaijan 569 2 068 1 376 1 338 0,03 % Jordan 1 263 1 203 1 339 1 268 0,03 % Kenya 1 073 1 254 1 385 1 237 0,03 % Uzbekistan 684 1 228 1 605 1 172 0,02 % Hong Kong, China 2 018 870 613 1 167 0,02 % Republic of Moldova 700 1 043 1 298 1 014 0,02 % Iceland 863 1 045 1 061 990 0,02 % North Macedonia 628 961 1 065 885 0,02 % Bosnia and Herzegovina 841 832 947 873 0,02 % Cuba (c) 2 162 - 170 107 700 0,01 % Kuwait 427 684 631 581 0,01 % Senegal 248 685 767 567 0,01 % Libya 224 814 248 429 0,01 % Paraguay 128 214 248 197 — Albania 170 217 196 194 — Jamaica (c) 479 - 67 89 167 — Oman 176 118 118 137 — ELI: http://data.europa.eu/eli/agree_internation/2026/1198/oj 33/39EN OJ L, 15.6.2026 Average 2005/06 2006/07 2007/08 3-year period Country (b) 2005/06 - 2007/08 (tonnes) (Share) Zambia 95 60 118 91 — Zimbabwe 111 86 62 86 — Saint Lucia (c) 26 20 25 24 — Samoa 48 15 0 21 — Saint Vincent and the 6 0 0 2 — Grenadines Total (d) 4 778 943 5 000 088 5 000 976 4 926 669 100,00 % Notes: (a) Three-year average, 2005/06 – 2007/08 of net imports of cocoa beans plus gross imports of cocoa products converted to beans equivalent using the following conversion factors: cocoa butter 1,33; cocoa powder and cake 1,18; cocoa paste/liquor 1,25. (b) List restricted to countries which individually imported cocoa in the three-year period 2005/06 to 2007/08, based on information available to the ICCO Secretariat. (c) Country may also qualify as an exporting country. (d) Totals may differ from the sum of constituents due to rounding. m Member of the International Cocoa Agreement, 2001 as at 9 November 2009. — nil, negligible or less than the unit employed Source: International Cocoa Organization, Quarterly Bulletin of Cocoa Statistics, Vol. XXXV, No. 3, Cocoa year 2008/09. 34/39 ELI: http://data.europa.eu/eli/agree_internation/2026/1198/ojEN OJ L, 15.6.2026 ANNEX C PRODUCING COUNTRIES EXPORTING EXCLUSIVELY OR PARTIALLY FINE FLAVOUR COCOA Council Decision Countries December 2020 (% of total cocoa bean exports) Belize (a) Bolivia (Plurinational State of) (a) Brazil 100 Colombia 95 Costa Rica 100 Dominica 100 Dominican Republic 60 Ecuador 75 Grenada 100 Guatemala 75 Haiti 4 Honduras (a) Indonesia 10 Jamaica 100 Madagascar 100 Mexico (a) Nicaragua 80 Panama 50 Papua New Guinea 70 Peru 75 Saint Lucia 100 Sao Tome and Principe (a) ELI: http://data.europa.eu/eli/agree_internation/2026/1198/oj 35/39EN OJ L, 15.6.2026 Council Decision Countries December 2020 (% of total cocoa bean exports) Trinidad and Tobago 100 Venezuela (Bolivarian Republic of) (a) Viet Nam (a) (a) Fine flavour cocoa bean exports are present, but the Panel of Experts is at this time not able to evaluate and determine a percentage. 36/39 ELI: http://data.europa.eu/eli/agree_internation/2026/1198/ojEN OJ L, 15.6.2026 ANNEX D MEMBERSHIP AND DISTRIBUTION OF VOTES AS OF 1 OCTOBER 2021 FOR THE PURPOSE OF ARTICLE 64 Distribution of votes Distribution of votes Exporting Members under article 10 (1), Importing Members under article 10 (1), (2), (2), (5) (5) Brazil 5 European Union 929 Cameroon 75 Austria 10 Democratic Republic of the Congo 8 Belgium 86 Costa Rica 5 Bulgaria 9 Côte d’Ivoire 400 Croatia 5 Dominican Republic 22 Cyprus 5 Ecuador 79 Czechia 5 Gabon 5 Denmark 5 Ghana 202 Estonia 20 Guinea 7 Finland 5 Indonesia 37 France 95 Liberia 7 Germany 189 Madagascar 8 Greece 5 Malaysia 5 Hungary 5 Nicaragua 6 Ireland 5 Nigeria 68 Italy 51 Papua New Guinea 12 Latvia 5 Peru 23 Lithuania 5 Sierra Leone 8 Luxembourg 5 Togo 6 Malta 5 Trinidad and Tobago 5 Netherlands 290 Venezuela (Bolivarian Republic of) 7 Poland 39 Portugal 5 Romania 5 Slovakia 5 ELI: http://data.europa.eu/eli/agree_internation/2026/1198/oj 37/39EN OJ L, 15.6.2026 Distribution of votes Distribution of votes Exporting Members under article 10 (1), Importing Members under article 10 (1), (2), (2), (5) (5) Slovenia 5 Spain 55 Sweden 5 Russian Federation 47 Switzerland 24 TOTAL 1 000 TOTAL 1 000 38/39 ELI: http://data.europa.eu/eli/agree_internation/2026/1198/ojEN OJ L, 15.6.2026 Declarations Declaration by the Contracting Parties on article 16 The selection of the Executive Director should be based primarily on merit. Among candidates of equal merit, the position of the Executive Director shall rotate between a candidate from an exporting Member and a candidate from an importing Member, taking into consideration the principle of gender equality. ELI: http://data.europa.eu/eli/agree_internation/2026/1198/oj 39/39