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Kyrgyzstan signs MoU with India to strengthen textile cooperation

YarnsandFibers News Bureau 2015-03-18 10:00:00 – New Delhi

The government of Kyrgyzstan has signed a memorandum of understanding (MoU) to develop cooperation in the textile sector with India. The MoU was signed by India's Textiles Minister Santosh Kumar Gangwar and the visiting Kyrgyzstan's Minister of Energy and Industry Kubanychbek Turdubaev in New Delhi.

The two countries have also agreed to set up a Joint Working Group to explore details of cooperation within the scope of the MoU and the steps required to facilitate bilateral trade and investment.

The MoU targets at strengthening bilateral cooperation in three directions: textiles and clothing, silk and sericulture, and fashion.

It aims at increasing cooperation in development of trade, economic and investment relations; technical and commercial collaboration and joint trade missions; encouragement of investments (such as joint ventures, industrial cooperation, marketing, leasing and management); mutual assistance in R&D, technical collaboration in product development and manufacturing, testing and certification; and mutual assistance in skill development, training and retraining of personnel, joint scientific, industrial and other meetings and exchanges.

It also provides for cooperation in export promotion; facilitation of participation of business delegations, exhibitors and buyers of both countries in trade exhibitions and business forums; and mutual assistance in organization of visits of technical experts, specialists, and scientists.

Minister Turdubaev expressed a hope that the share of textiles in India's exports will increase and the trade between Kyrgyzstan and India will be increased to US $2.5 billion. Presently, textiles account for 50 percent of India's total exports to Kyrgyzstan.

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