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Uzbekistan increases cotton fiber processing

23 October 2017 [15:35] - TODAY.AZ

By Azernews


By Kamila Aliyeva

Uzbekistan, which aims at developing its textile industry, brought the internal processing of cotton fiber to 70 percent in 2017.

This was stated by the chairman of the management board of Uzpahtasanoatexport holding company Akmal Kamalov at the opening of the 13th International cotton and textile fair in Tashkent on October 23, podrobno.uz reported.

"If in 1991 the volume of fiber processing did not exceed 7 percent, then by 2017 this figure reached 70 percent. During this period, there was a significant, almost 30-fold increase in exports of light industry products," he said.

An increase in domestic consumption of produced fiber is of great importance, according to Kamalov, who noted that the increase in the volume of deep cotton processing is realized due to the annual growth in the number of textile enterprises.

"By 2020, more than 150 new projects in the field of light industry worth more than $2 billion are planned to be implemented in Uzbekistan," Kamalov stressed.

Thanks to the development of production capacities, the export of finished goods has already exceeded $1.3 billion, he added.

Uzbekistan will achieve full processing of cotton fiber in 2021, according to the Economy Ministry. At the same time by 2021 the production of textile and clothing and knitted products will increase by 2.2 times compared to 2016, including ready-made fabrics - 2.7 times, knitted fabrics - 3 times, knitted goods – 3.4 times, hosiery – 3.7 times. It is planned to increase the export of products by 2 times.

One of the policy priorities of Uzbekistan, the world’s sixth-largest cotton producer, is further development of its textile industry. Uzbekistan takes consistent steps to increase the volume of cotton fiber processing.

In particular, it is planned to create 112 modern, high-tech industrial factories, expand, modernize and technologically upgrade 20 operating capacities. All this will increase the export potential of the industry up to $2.5 billion a year and create more than 25,000 jobs.

In the period 2010-2014, the textile industry of Uzbekistan received and spent foreign investments worth $785 million while 147 new textile enterprises with participation of investors from Germany, Switzerland, Japan, South Korea, the U.S., Turkey and other countries were commissioned. Export potential of these enterprises amounted to $670 millions.

Currently, Uzbekistan continues to attract foreign investments for construction of textile enterprises in Uzbekistan. In late August, another Polish company Polcotton agreed to invest about $60 million in the construction of the textile complex in Uzbekistan. The future factory is expected to have a capacity of 10,000 tons of finished products per year and to generate as many as 1,200 new jobs.

Previously, Uzbekistan and Russia agreed to further expand cooperation in textile industry which is a strategic centerpiece of the Uzbek economy.  Particularly, they intend to create a "green corridor" for the supply of textile products.

URL: http://www.today.az/news/regions/166060.html

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