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'Kazakhstan & Indonesia to establish JV in textiles'
29
Apr '14
Entrepreneurs from Kazakhstan and Indonesia have expressed interest in establishing joint ventures (JVs) in various sectors, including textiles, to increase production, said Ambassador of Indonesia in Kazakhstan Foster Gultom, reports today.kz.

According to the Ambassador there are several fields where both the countries can cooperate, which would be beneficial to both, and establishing JVs would help further cooperation between Kazakhstan and Indonesia.

Indonesia produces goods which Kazakhstan imports and Kazakhstan can supply with products such as cotton and yarn, which Indonesia is in need of, he added.

Mr. Gultom informed that both the countries would be able to discuss increasing bilateral trade relations during the upcoming 47th Annual Meeting of the Board of Governors of the Asian Development Bank (ADB), scheduled to be held from May 2 to 5, 2014, in the Kazakh capital city of Astana.

Businessmen from both the countries would get the opportunity to discuss cooperation in various fields, including textiles, during the four-day event, he added.

According to the Industry Committee of the Ministry of Industry and New Technologies (COMPROM), as of January 2013, the Central Asian country of Kazakhstan had 707 enterprises operating in the light industry (including textile and clothing industries), of which 50 percent concentrates in production of textiles, while the rest 50 percent account for production of clothing, leather and other products.

Fibre2fashion News Desk - India

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