However, one of the potential drawbacks of an MOU is that it’s not usually an enforceable, legally binding contract. What are the benefits and drawbacks of a memorandum of understanding?Ī memorandum of understanding (MOU) provides clarity for each of the involved parties on their first steps of working together, allowing stakeholders to gain a mutual understanding of the responsibilities of each partner. In the UK, MOUs can be used to formalise school partnerships. Memorandum of understandings are used before drafting the main contract in the early stages of an agreement. GCA has a worldwide network of regional offices in Abidjan, Cote d’Ivoire Dhaka, Bangladesh and Beijing, China.Find out how Docusign e-signature can help your organisation Founded in 2018, GCA operates from its headquarters in the largest floating office in the world, located in Rotterdam, the Netherlands. The Global Center on Adaptation (GCA) is an international organization which works as a solutions broker to accelerate action and support for adaptation solutions, from the international to the local, in partnership with the public and private sector. The goal is to ensure that trade flows as smoothly, predictably and freely as possible. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments. The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. In the longer term, trade enables producers and consumers to adapt to changes in comparative advantage, thereby helping the transformation of Africa’s agricultural sector and the diversification of its broader economy. In the short term, trade cushions the volatility of food markets by providing a vital flow of supplies to regions that may see a sudden reduction in domestic production of food crops due to a climate shock. In GCA’s State and Trends in Adaptation Report 2021 on Africa, the focus chapter on trade produced in collaboration with the WTO showed how trade can play two crucial roles in supporting Africa’s efforts to adapt to a changing climate. The MoU was signed during the the Africa Adaptation Summit with global leaders hosted by GCA, together with the African Union, the African Development Bank, the International Monetary Fund, the Africa Adaptation Initiative and the Climate Vulnerable Forum.
The two organizations will also explore opportunities to provide policy support to WTO members interested in the trade and climate adaptation agenda. Patrick Verkooijen signed the partnership agreement in a ceremony witnessed by Secretary-General Ban Ki-moon, 8 th Secretary-General of the United Nations and Chair of GCA. WTO and GCA will collaborate on topics relevant to climate adaptation and trade, focusing on undertaking outreach activities and policy dialogue in these areas, developing reports and other knowledge products, and organizing knowledge sharing events, seminars, and capacity building activities in the areas of trade and climate adaptation.ĭr Ngozi Okonjo-Iweala, Director-General of the WTO, and Prof. Otterdam, the Netherlands, 5 September 2022 – The World Trade Organization (WTO) and the Global Center on Adaptation (GCA) today signed a Memorandum of Understanding (MoU) to leverage the connection between trade and adaptation action in countries and regions that are particularly vulnerable to the impacts of climate change.
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