Italian machinery manufacturers have excellent opportunities to develop cashmere processing in Mongolian market. As, cashmere is the second largest hard currency-earning export of Mongolia, which makes the emerging Asian nation the world’s second largest producer of the coveted goat’s wool, after China.

An institutional trade mission in Mongolia, organised by ACIMIT (the Association of Italian Textile Machinery held a meetings of ACIMIT with the local authorities and the ICE- Italian Trade Agency in Mongolia, have agreed with the need for modernizing existing technology for the processing of cashmere.

A total of nine Italian machinery manufacturers, among which ACIMIT’s affiliated members, presented their latest and most suitable technology for the processing of cashmere during the course of the meeting ‘Italian advanced textile technology and Mongolian cashmere sector: a winning partnership’.

The companies included Bellini, Bianco, Bigagli-Proxima, Cormatex, Fadis, Stalam and Sant'Andrea Novara. The Italian contingent declared themselves satisfied with the proceedings, as they were also permitted to visit some important local manufacturers, bringing forth interest among local businesses.

The three-day mission in Mongolian also served to strengthen ties between the local authorities and ACIMIT’s management. The Vice-Minister for Industry and Agriculture, B. Tsogtgerel, presented a Mongolian project to develop the textile industry in the country, processing the majority of the raw cashmere wool currently exported.

Within five years, the quantity of unprocessed raw material shipped out to foreign markets is essentially expected to disappear, compared to the current 6,300 tons exported.

ACIMIT President Raffaella Carabelli stated that the local processing of cashmere will broaden possibilities for trade within Mongolia for Italian manufacturers, who for years have been at the front position in supplying suitable technologies for the processing of this prestigious raw material.

ACIMIT represents an industrial sector comprising around 300 companies and producing machinery for an overall value of EUR 2.3 billion, with exports amounting to 84% of total sales.

In 2013, 68 million euros in investments were set aside for the development of new production technologies, and another 145 million euros are expected for a further increase in production capacity. Italian textile machinery is sold in around 130 countries worldwide.

ACIMIT are looking at numbers that will provide a healthy boost for the cashmere industry in Mongolia, beginning with the spinning sector, and subsequently the knitting, weaving and finishing sectors.