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Uzbek Prez signs decree for further textile sector reforms

16
Feb '19
Uzbek Prez signs decree for further textile sector reforms
Uzbek President Shavkat Mirziyoyev signed a decree recently for further reforms in the textile sector to fully reprocess raw cotton in the country and raise its export potential. The decree instructs the government to develop and approve within three months the concept of accelerated development of the textile and clothing-knitting industry from 2019 to 2025.

Uzbekistan aims to raise the annual export volume of textile products to $7 billion by 2025, Aa news agency reported citing the decree document.

The decree also provides various stimulating measures for enterprises engaged in export of textile products beginning April 1.

Uzbekistan, the world's sixth-largest cotton producer, produced 2.3 million tons of raw cotton in 2018.

According to the National Statistical Committee of Uzbekistan, the annual export of textiles in the country reached $1.6 billion, up by 41.4 per cent from the previous year. (DS)

Fibre2Fashion News Desk – India


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