12/15/2008

Turkey will make best of crisis opportunities, says IAF president

Today’s Zaman - International Apparel Federation (IAF) President Vassilis Masselos has said Turkey can turn the ongoing global financial crisis to its own benefit. Speaking at a conference held by the Uludag Exporters' Association (UIB) in Bursa, Masselos noted that Turkey has the potential to make the best of the opportunities that will emerge in global markets following the crisis. “Nobody has a sound strategy to withstand the turbulence,” he noted, while adding, on the other hand, that Turkey's situation is advantageous in many ways. "Turkey is settled in a geography close to big markets such as Europe and the Middle East, and it should use this fact as an advantage. I believe that Turkey, also a key player in the global apparels market, will overcome the crisis if it can make use of the current chances," he said. “Also the position of the Turkish lira against the US dollar will be a determining factor," he added. Masselos noted that another thing he considered important for Turkey was that companies' environmental responsibility has grown in the country. "I assume this trend will continue," he said, stressing that if it does, Turkey will be able to make the most of its opportunities.
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