Home / Knowledge / News / Textiles / Uzbekistan, Korea sign textile cooperation agreements
Uzbekistan, Korea sign textile cooperation agreements
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

Textiles | On 22nd May 2017

GST to be biggest achievement of Modi govt: ASSOCHAM

Goods and Services Tax (GST) which is near a roll-out would be the...

Textiles | On 22nd May 2017

Maintaining NAFTA benefits is crucial: Cotton council

The US must remain a participant in a vibrant North American Free...

Apparel/Garments | On 22nd May 2017

Retailers ask Congress not to go for consumption tax

The National Retail Federation has asked US Congress to focus on...

Interviews View All

Angelina Francesca Cheang

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Silke Brand-Kirsch
Schlegel und Partner

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Igor Chapurin

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

Tony Ward
Tony Ward

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
May 2017

May 2017

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


Browse Our Archives


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