Korea’s textile industry receives 1st edition of the Cotton Brazil Outlook
Calendar and Events |
Fourth virtual meeting of the series promoted by Cotton Brazil strengthens relations between the Brazilian cotton industry and Korean companies. Today one third of the cotton consumed in the country comes from Brazil.
Korea was the fourth country to receive the 1st edition of the Cotton Brazil Outlook webinar, an event promoted by the Cotton Brazil initiative and led by Abrapa (Brazilian Cotton Growers Association) in partnership with Anea (Brazilian Cotton Shippers Association) and Apex- Brazil (Brazilian Trade and Investment Promotion Agency). The meeting took place on January 27.
Virtual meetings have already been held with businesspeople from China, India, and Vietnam, and there are plans for similar exchanges with Turkey, Bangladesh, Pakistan, Indonesia, and Thailand. The events connect authorities and specialists from Brazil with local textile leaders who receive valuable information about Brazilian cotton, including its intrinsic characteristics and data on the latest crop.
Goal is to achieve a higher share of the Korean market
After an introduction by Abrapa’s director of international relations, Marcelo Duarte, and welcome remarks by the association’s president, Júlio Cézar Busato, it was the turn of Brazil’s ambassador to Korea, Luís Henrique Sobreira Lopes, to talk about the importance of the event for those who sell and buy Brazilian cotton.
For the ambassador, it is essential to pursue a growth goal, the webinar being an excellent opportunity to exchange views between Brazilian growers and the Korean industry. “The discussion will allow for a better understanding of the growth potential of Brazilian cotton and its competitiveness in the Korean textile market. Korea is a traditional buyer of Brazilian cotton and is known for its high demands in terms of quality”, he said.
The path back to growth
The president of SWAK (Spinners and Weavers Association of Korea), Joon Kim, recalled the challenges imposed on the industry by the Covid-19 pandemic in 2020, citing a positive outlook as the industry resumes its path to growth.
“As expectations of economic recovery increase, the supply chain of the textile industry in general tends to recover and the demand for cotton, the main input in our spinning industry, also grows”, he explains, recalling that Brazil is an important supplier to Korea. “Mutual cooperation and information sharing between the Korean and Brazilian cotton industries are key to the common interests of the two sectors”. In 2019 Korea imported 46,000 tons of Brazilian cotton, which accounts for 32% of the total cotton imported by the country.
The webinar continued with presentations by Júlio Cézar Busato, President of Abrapa; Edson Mizoguchi, Abrapa’s Quality Manager; Carlos Moresco, Brazilian cotton grower; Henrique Snitcovski, President of Anea; and Marcelo Duarte, Director of International Relations at Abrapa.
The Cotton Brazil Outlook – Korea was held by Abrapa in partnership with Anea and Apex-Brasil, with support from SWAK – Spinners and Weavers Association of Korea – and the Brazilian Embassy in Seoul.
About Cotton Brazil
The Cotton Brazil initiative was launched at the end of 2020 to promote Brazilian cotton in the global market, and is the result of 20 years of constant innovation, research, and investments in industry improvements.
Led by Abrapa (Brazilian Cotton Growers Association) in partnership with Anea (Brazilian Cotton Shippers Association) and Apex-Brasil (Brazilian Trade and Investment Promotion Agency), Cotton Brazil encompasses actions including a physical presence in Asia with the opening of an office in Singapore; a larger digital presence through a website in nine languages and social media efforts; relationship marketing programs; events; market intelligence; buyers and sellers missions; strategic research and partnerships.
To learn more, visit: www.cottonbrazil.com