Uzbekistan’s textile exports reach US$1bn in 2014
14/10/2014 11:19
Uzbekistan’s textile exports reach US$1bn in 2014
14/10/2014 11:19
Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan expects that the volume of exports of textile products will reach US$1 billion in 2014. It was announced at the conference within the International Uzbek cotton and textile fair, which started its work in Tashkent on Monday.
It was underlined that Uzbekistan is increasing assortment of produced competitive ready products. The production volume annually increased by over 25% and the enterprises launched production of new 50 products.
At the same time, Uzbekistan is increasing exports of textile products by 20% in average annually.
Exports of textile products in Uzbekistan rose by 130 compared to 1991 and will reach US$1 billion in 2014 compared to US$7 million in 1991.
Main importers of the Uzbek cotton are companies and traders from Bangladesh, China, South Korea, UAE, Pakistan and Russia.
In last 23 years, the volume of attracted foreign investments reached US$1.8 billion. The investments helped to implement over 150 large investment projects.
In 1991, Uzbekistan internally processed only 7% of cotton-fibre and the figure reached 44% in 2014. Currently, share of light industry in GDP of Uzbekistan is 2.7%, industrial output – 26.2%, production of non-food consumer goods – 44%.
According to Uzbekyengilsanoat, Uzbekistan will direct US$1 billion to modernize textile industry in 2015-2020. The programme envisages to increase volume of internal processing of cotton-fibre from 44% in 2014 to 70% in 2020.
International Uzbek cotton and textile fair is held in Tashkent for the tenth time. According to the Ministry of Foreign Economic Relations, Investment and Trade of Uzbekistan, foreign trade companies of Uzbekistan are planning to sign export agreements for over US$1 billion within the fair. Over 600,000 tonnes of cotton-fibre of 2014 crop will be put for trades within the fair. About 50,000 tonnes of cotton-fibre will be traded via Uzbekistan Commodity Exchange.
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