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Textile industry flourishes to mark trade surplus
05
Feb '08
The year 2007 proved quite lucrative for Uzbekistan which exported textile products worth US $401 million. In fact, the total volume of finished product's exports rose by 20 percent.

A total of 655.9 billion soums worth industrial goods were manufactured in Uzbekistan for 2007 and this was made possible largely because of the newly introduced production facilities made available to the industry.

Local entrepreneurs garnered foreign capital worth more than $87 million and it is one of the most gratifying facts for Uzbekistan that countries like Germany, Italy, South Korea, Turkey, Russia, India, US and Great Britain are laying grounds for operating their units in the country.

In 2007 alone, the number of textile companies increased by 23 and this in turn generated 10,000 jobs for people. Presently, the textile industry of Uzbekistan has the potential of processing and producing some 380,000 tons of cotton fibre, over 300,000 tons of yarn, 336.8 million meters of cotton fabric, 170 million units of knitwear and eight million pairs of hosiery.

It was because of the first International Textile Fair held last year that Uzbekistan could develop long-lasting cooperation with some of the pioneering manufacturing and trading companies of the world. In fact, contracts worth $306 million were inked during the fair.

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