Home / Knowledge / News / Textiles / Kyrgyzstan, South Korea to set up JV for cotton: Minister
Kyrgyzstan, South Korea to set up JV for cotton: Minister
08
Oct '13
Kyrgyzstan would be setting up a joint venture (JV) with South Korea to process cotton, announced Deputy Minister of Energy and Industry of the Kyrgyz Republic Saparbek Assanov, at the VII Cooperation Forum ‘Republic of Korea-Central Asia’, held in the capital city of Bishkek.
 
Mr. Assanov said the Kyrgyz Republic has made a proposal to South Korea for building a processing plant for raw materials in the south of Kyrgyzstan, reports Kyrgyz news agency 24. 
 
Whether the collaboration between the countries would be in terms of investment or other embodiments of cooperation, it has not yet been determined, he added.
 
Mr. Assanov said the construction of the processing plant is estimated to take three years, and the countries aim to revive the production of cotton and silk through the plant, which would be beneficial to the economies of both the nations.
 
According to the Deputy Minister, the textile and garment industry in the country is the driving force of Kyrgyz economy, however, the domestic light industry is weak, owing to the lack of enterprises for production and processing of raw materials.
 
Currently, cotton production Kyrgyzstan is about 100,000 tons per year, of which 25,000 tons is processed and exported, he added.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 22nd Apr 2017

Strong rupee & weak trade to affect textile exporters

Textile and apparel exporters' earnings and EBITDA margins will be...

Textiles | On 22nd Apr 2017

Myntra acquires InLogg

With an aim to strengthen supply chain and logistics, Flipkart-owned...

Textiles | On 22nd Apr 2017

Aditya Birla Group launches new variant Liva Crème

After its successful launch of high quality fabric Liva in 2015,...

Interviews View All

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search