The Cotton International 2013 Global Summit will be held March 20-22, 2013, at the exciting Marina Bay Sands Hotel and Casino in Singapore. In cooperation with the International Textile Manufacturers Federation (ITMF) and other prominent industry organizations, the 2013 Global Summit will bring together thought leaders from all sectors of the cotton value chain. Last year, more than 300 senior executives traveled to Bangkok to attend the debut of the Cotton International Global Summit.
“Through the market volatility and uncertainty the industry has faced over the last four years, cotton and textile professionals confirmed that strong relationships are fundamental to success and profitability,” says Mike McCue, editor of Cotton International and Program Chair for the 2013 Global Summit. “As the voice of the global cotton community, Cotton International serves as the forum for industry stakeholders to collaborate on solutions. The Cotton International 2013 Global Summit will be a big step toward fulfilling the mission to lead the industry forward.”
The global economy is showing signs of improvement, but remains fragile due to continuing difficulties in several key regions, according to Christian Schindler, Director General of ITMF. Schindler points out that the textile industry around the world is struggling with sluggish global demand in 2012.
According to estimates from the International Monetary Fund, global output will be only 3.3% higher in 2012, after a 5.1% increase in 2010 and 3.8% jump in 2011. The combined growth rate in developed economies such as the United States, Japan, Great Britain and Canada, is only 1.3% in 2012 – significantly below their growth potential. The EU economy will even shrink slightly in 2012 (down 0.2%).
Emerging and developing economies like Brazil, China, India, Mexico and Russia are fueling global growth (up 5.3% in 2012), and estimates for global growth in 2013 are slightly higher – an expected increase of 3.6% – but do not indicate a strong and fast recovery. The global textile industry needs to adapt to this scenario and at the same time prepare for future growth, Schindler says.
"The uncertainty in the eurozone (periphery countries) and in the United States (fiscal cliff) is weighing heavily on a fast and strong recovery. Since these problems are both political and economic, they are unlikely to be resolved quickly,” he adds. “This means that the industry has to adapt and anticipate to such developments. Inventories and processes need to be streamlined in order to remain competitive and profitable.
“At the same time, the industry should realize the enormous growth potential that is in the pipeline. With investments in machinery, markets, distribution channels, research and innovation, and education, companies can prepare themselves for the time of the recovery post 2013.”
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