Uzbekistan signs contracts worth over $1 bn for export of textile products

Uzbekistan the world’s sixth largest cotton producer has signed contracts with companies from Russia, Turkey, South Korea, Singapore, Moldova and many other countries for the export of finished and semi-finished textile products for more than $1 billion during the recent 13th International Uzbek Cotton and Textile Fair held in Tashkent.

The 13th International Uzbek Cotton and Textile Fair was held in Tashkent on 23-24 October 2017. More than 1,500 specialists, who participated in the fair from different countries, received an opportunity to get acquainted with the work in this direction, defined acceptable standards for them.

Also around 1,500 experts from around 50 countries participated in the four-day fair last week that was accompanied by the 76th plenary meeting of the International Consultative Committee for Cotton (ICCC).

The country, which grows about 3.5 million tons of raw cotton and produces 1.1 million tons of cotton fibre annually, can ensure full processing of its cotton by 2020. By 2021 the production of textile and clothing and knitted products will increase by 2.2 times compared to 2016.

Uzbekistan has planned to create 112 modern, high-tech textile factories and expand, modernize and upgrade operating capacities of 20 existing ones.

Uzbekistan has adopted a programme of measures for further development of textile and clothing and knitted industries for 2017-2019. The program envisages implementation of more than 130 investment projects worth US$2.2 billion.

The enterprises of the textile industry of Uzbekistan exported products worth US$1.146 billion in 2016. It is expected that this figure in 2017 will reach US$1.3 billion.

Last year, during the fair, Uzbekistan signed contracts for sale of textile products for over US$1.32 billion and 550,000 tonnes of cotton fiber.