Home / Knowledge / News / Textiles / Uzbekistan, Korea sign textile cooperation agreements
Uzbekistan, Korea sign textile cooperation agreements
19
Jun '14
Several agreements for cooperation in the textile sector were signed between Uzbekistan and Korea during the first state visit of South Korean President Park Geun-hye to Uzbekistan, reports UzReport.
 
At the meeting of the Uzbek-Korean business forum in Tashkent, a memorandum of understanding (MoU) was signed between the Uzbek light industry joint stock company Uzbekyengilsanoat and the Korean Institute of Technology Development for setting up a Textile Technology Innovation Centre in Tashkent at a cost of US$ 10 million.
 
Agreements were also signed for three new Uzbek-Korean joint investment projects in the textile and light industry. A $20 million agreement was signed for a project between Uzbekyengilsanoat and the South Korea-based Yanguan Corporation.
 
Uzbekyengilsanoat also signed MoU for investing $12 million for expansion and modernization of existing production units of Daewoo Textile Fergana and Daewoo Textile Bukhara.
 
In addition, a MoU on cooperation in the textile and light industry was signed between Uzbekistan’s Ministry of Foreign Economic Relations, Investments and Trade and South Korean Ministry of Commerce, Industry and Energy.
 
Currently, there are more than 400 enterprises, including textile companies, in Uzbekistan which have been created in partnership with South Korean businesses.
 
In 2013, the bilateral trade turnover between the two countries crossed US$ 2 billion.
 

Fibre2fashion News Desk - India

Must ReadView All

President Donald Trump; Courtesy: White House

Textiles | On 23rd Jan 2017

US textile industry eager to work with President Trump

The US textile industry is eager to work with President Donald Trump...

Textiles | On 23rd Jan 2017

LyondellBasel expands Texas plant ethylene capacity

US based producer of petrochemicals and speciality chemicals...

Textiles | On 23rd Jan 2017

China’s cotton imports down 39% in 2016

China’s total cotton imports declined by 39.1 per cent to ...tons in...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Karan Arora
Karan Arora

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search