The parties made significant progress on important issues and have agreed to hold the final round of negotiations in February, 2018. Both parties are committed to finding solutions and concluding a new IBF Agreement during that round, they said in a joint statement.
It was also agreed that the 2017 IBF Agreement will remain valid past the 2015 - 2017 expiration date of 31st December, 2017 – and that the new agreement will enter into force at a date to be agreed on by the parties.