Coteminas eyes Turkey as its next ideal location for investment

YarnsandFibers News Bureau 2014-03-19 17:05:00 – Hürriyet

Coteminas S.A., the biggest vertically integrated textile group in Brazil, Latin America sees Turkey as an ideal location for investment due to its large domestic market and export potential. Coteminas, with a cutting edge technology in each of its twenty two factories, it produces threads, fabrics, knits, bed linen towels, t-shirts, socks, and bathrobes, all of premium quality and at highly competitive prices, thereby meeting the requirements of the domestic and export markets most demanding customers. It is also responsible for approximately 20% of Brazil’s cotton consumption.

According to Josué Christiano Gomes da Silva, the President of the Brazil-based Companhia de Tecidos Norte de Minas, Turkey’s business and investment environment provides the most advantageous location in Europe with its key geographical location and growing economy. Paricularly, drawing attention to Turkey’s proximity to the EU, slowly recovering from the eurozone crisis.

If Coteminas were to invest in Europe, Turkey would be the first choice. As, growth potential and central status give easy access to the European, Middle Eastern and African markets and make the country the ideal choice for an investment.

Coteminas President during his meeting with the head of Turkish Textile Employers' Association (TTSIS), Muharrem Kayhan, said that Turkey and Brazil could do more to improve their business and trade relations. The two countries have a combined population of 300 million people and a 3 trillion-dollar GDP. Both countries have the advantage of having large domestic markets.

The favorable demographics were also a common trait that would assist Turkey and Brazil’s long-term growth. More cooperation between Turkey and Brazil will contribute to the competitiveness levels and growth performance of the two countries.

Turkey is fast becoming recognized as a fashion center and top clothing supplier. The country has over 35,000 textile and clothing companies and is the fourth largest supplier of clothing in the world and ranks among the top ten exporter in the textile industry. Turkey has also been able to maintain its edge in the industry by investing early in cutting-edge technologies.

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