The objectives of the Seventh International Cocoa Agreement (2010) are to:
• Establish a new organizational structure to improve the effectiveness of the International Cocoa Organization, which administers the provisions of the agreement and oversees its operation, as well as the creation of an Advisory Committee on the World Cocoa Economy, whose role and functions are clearly defined;
• Develop clear definitions and targets in order to achieve a sustainable cocoa economy;
• Improve market transparency through the collection, processing and dissemination of data from both public and private sources, and through increased cooperation between the organization and the private sector;
• Consolidate an office for the development of projects related to the cocoa economy, to consider the role of these projects to strengthen national economies, and ensure that they respond better to changes in demand;
• Recognize the need to fight for fair prices that generate a fair return to producers and consumers of cocoa;
• Promote the quality of cocoa, and recognition of the need to develop appropriate procedures for food safety in the cocoa sector;
• Define clearly procedures for the establishment of a system of statistics on production and trade of cacao ("good" or "flavor");
• Consolidate the cooperation of the International Cocoa Organization with nongovernmental organizations.
The agreement was ratified, approved, signed, and subject to a notification of provisional application by the governments of 14 exporting and 29 importing countries plus the European Union (see list below). Together, these countries represent over 60% of consumption and over 80% of world cocoa production.
Exporting members: Brazil, Cameroon, Côte d´Ivoire, the Dominican Republic, Ecuador, Gabon, Ghana, Malaysia, Nicaragua, Nigeria, Papua New Guinea, Togo, Trinidad and Tobago, and Venezuela.
Importing members: The European Union (Austria, Belgium/Luxembourg, Bulgaria, Cyprus, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Malta, the Netherlands, Poland, Portugal, Romania, the Slovak Republic, Slovenia, Spain, Sweden and the United Kingdom), the Russian Federation, and Switzerland.