Uzbekistan signs textile export contracts worth over $1 bn

30 Oct '17

1 min read

World’s sixth-largest cotton producer Uzbekistan signed contracts worth more than $1 billion with companies from Russia, Turkey, South Korea, Singapore, Moldova and many other countries for the export of finished and semi-finished textile products during the recent 13th International Uzbek Cotton and Textile Fair in Tashkent.

Around 1,500 experts from around 50 countries participated in the four-day fair last week that was accompanied by the 76th plenary meeting of the International Consultative Committee for Cotton (ICCC), according to Uzbek media reports.

Uzbekistan signed contracts for the sale of textile products from 550,000 tons of cotton fibre worth more than $1.32 billion last year.
The country, which grows about 3.5 million tons of raw cotton and produces 1.1 million tons of cotton fibre annually, can ensure full processing of its cotton by 2020. By 2021 the production of textile and clothing and knitted products will increase by 2.2 times compared to 2016.

Uzbekistan has planned to create 112 modern, high-tech textile factories and expand, modernize and upgrade operating capacities of 20 existing ones. (DS)

Fibre2Fashion News Desk – India

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