Cooperation visit from Colombia to the ICE
The delegation consisting of cotton experts representing the Ministry of Agriculture and Rural Development of Colombia paid a visit to İzmir Commodity Exchange (ICE) on Thursday, 14 July 2016 and participated in the daily cotton trading session. The delegation accompanied by the representatives from the Ministry of Food, Agriculture and Livestock of the Republic of Türkiye and Nazilli Cotton Research Institute was welcomed by Barış Kocagöz, president of the Assembly of the ICE, Ercan Korkmaz, deputy chairperson of the Board of Directors, and the treasurer Bülent Uçak. The delegation was informed about the cotton trading transactions carried out in the ICE, general electronic trading means and the National Cotton Council.
Barış Kocagöz, president of the Assembly, said "Cotton has always been an important product for the agricultural and industrial sectors. Therefore, it is not in vain that the cotton is referred to as 'white gold'. Due to its strategic importance for İzmir and Türkiye in terms of production and trade, the cotton has also held a special place for İzmir Commodity Exchange that has been serving the sector for 125 years. The reference prices in cotton are set in our country as a result of the cotton trading transactions carried out daily in our Exchange. In addition, our Exchange runs many projects aiming at the development of the sector in order to increase the cotton production in our country in terms of quantity and quality, and supports the projects carried out by different institutions".
Having mentioned that the cotton was also a very important product for Colombia with an annual consumption amount of 55 thousand tonnes, Kocagöz added "We can say that there are similarities between the basic development processes of cotton sectors of Türkiye and Colombia although they are different in terms of quantity and volume. The cotton cultivation acreage started to decline in Colombia in the 1990s and in Türkiye in the 2000s, and consequently, the amount of production and exports fell and cotton imports increased in amount. Therefore, increasing the cotton cultivation acreage should be one of the most important and common goals for us. Considering that the negotiations between the two countries regarding the free trade agreement are still continuing, I hope that our cooperation will improve in the future".
Having stated that Türkiye and Colombia aimed to increase the reciprocal trade volume to 5 billion dollars until 2023, Kocagöz said, "We also hope to achieve this goal. Just as in other potential sectors, we hope to be in mutual cooperation in cotton and textile sectors as well".
Bülent Uçak, treasurer of the Board of Directors of the ICE, informed the delegation about the overall situation of the cotton sector in Türkiye and the trading sessions held in the cotton trading pit (Korbey) of the ICE. Having mentioned that the cotton prices in Türkiye generally moved in parallel with global markets, Bülent Uçak said, "Price fluctuations may occur due to special circumstances, mainly exchange rate movements, experienced in the economy. We think that thanks to our fertile land, we have the potential to produce 1.5 million tonnes of cotton we need. I am sure that the cotton that is the source of income for thousands of our people and an important commodity for the national economy is an indispensable product for us and you who have come from thousands of kilometres away to visit us. I hope that both Türkiye and Colombia increase the amount of cotton they produce and decrease their need for imported cotton. I am of the opinion that significant cooperation opportunities can be taken between the cotton and cotton-based industrial sectors of the two countries".
Dr. Pınar Nacak, Deputy Secretary General of the ICE, made a presentation for the delegation, informing them about the activities of the ICE, İzmir Commodity Exchange Electronic Platform (IZBEP) and the latest e-marketplace project of the ICE called E-Commodity Bazaar while Prof. Dr. Ünal Evcim, Secretary General of the National Cotton Council, made a presentation about the activities of the Council and their contributions to the cotton sector in Türkiye.
Sofia Ortiz, agricultural products coordinator of the Ministry of Agriculture and Rural Development of Columbia, said, "First of all, we thank you very much on behalf of the Colombian government for hosting us here. We also would like to thank the Turkish government as we have had the opportunity to come here and learn how the cotton sector and market function in Türkiye within the framework of the cooperation agreement concluded between our governments. Although the cotton is also a very important product for Colombia, the productivity in our country has fallen over the years due to various problems experienced in our country. We are very pleased to be in cooperation with Türkiye in order to increase cotton production, enhance productivity and quality, and improve our commercial activities".
The representatives of the ICE and the Colombian delegation stood together to take a photo in memory of the day after the meeting in which possible collaboration and joint project opportunities were sought.
26.07.2016
