The global cotton and textile communities are facing historically volatile times, regardless of which part of the supply chain they belong to. Without question, the problems our industry faces are significant – but they are by no means insurmountable.
In this new era, success will require a level of communication and transparency greater than we’ve ever had in the past, and that’s an opportunity we all need to take advantage of. By developing closer ties with our business partners both upstream and downstream, we can do much more than simply survive these dangerous times: We can build a better and stronger industry that we will all benefit from long after the current period of market turbulence subsides.
By regularly discussing strategies with our peers and business partners, we can ensure that the global cotton trade functions more smoothly in all sectors. With a little bit of effort, we won’t just be better prepared for the next crisis – we might be able to avert it completely.
More than any industry I’ve ever seen, the cotton trade is based on establishing and nurturing solid relationships. I have had more than one person tell me that they made agreements in the past to buy or sell massive amounts of cotton, worth hundreds of thousands of dollars, and sealed those agreements with a simple handshake. That level of trust and respect is virtually nonexistent in other industries.
In the brief amount of time I’ve been with Cotton International, I’ve already experienced firsthand how open and welcoming this industry can be. The people I’ve met have offered to help by sharing their decades of experience with me and reinforced how special this industry can be. A large part of that comes from the positive reception I have received thus far from industry partners I now have the pleasure of calling friends.
With these friends I would like to now forge ahead and transition this volatility into perseverance – and there is no better platform to accomplish these goals than the 2012 Cotton International Global Summit. We are not shy about our intentions and will deliver an incredible opportunity for our industry partners to transact business and reinforce relationships at this event, to be held in Bangkok, Thailand, from April 25-27, 2012. For those of you I have not yet had the pleasure to meet, I look forward to seeing you there.