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Uzbekistan aims to process all locally produced cotton
08 Feb '17
1 min read
Uzbekistan, a major cotton producing country has set a task to process all cotton produced in the country into textiles by 2020, as against 40 per cent of the cotton that is processed currently, and just 7 per cent in 1991. As of date, the country exports textiles to over 50 countries and more recently has begun exports to Nigeria, Croatia, Chile and Brazil.
According to Uzbek media reports, of overall textile exports, yarn shipments account for nearly 50 per cent, which will be gradually replaced with value added textile products.
In order to achieve the goal, the country plans to invest around $2.2 billion, half of which the country expects to come from foreign investments. There is also a plan to build textile complexes, which will house facilities beginning from spinning till processing of fabrics.
The plan is to also create 27,000 new jobs through these investments, while also upgrading 10 existing textile mills. (AR)
According to Uzbek media reports, of overall textile exports, yarn shipments account for nearly 50 per cent, which will be gradually replaced with value added textile products.
In order to achieve the goal, the country plans to invest around $2.2 billion, half of which the country expects to come from foreign investments. There is also a plan to build textile complexes, which will house facilities beginning from spinning till processing of fabrics.
The plan is to also create 27,000 new jobs through these investments, while also upgrading 10 existing textile mills. (AR)
Fibre2Fashion News Desk – India
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