Chinese Investments In Uzbek Textile Industry Up

Trade & Policy

Chinese Investments In Uzbek Textile Industry Up

Chinese investments into the textile industry of Uzbekistan has registered an increase. This was noted during the meeting of the leadership of the Uztekstilprom association with Chinese Ambassador to Uzbekistan Jiang Yan.

The amount of Chinese investments in the country's textile industry exceeds US$ 200 million, the press service of the association said. The Chinese side was provided with information on successfully implemented and currently implemented projects with the participation of Chinese companies such as Jinsheng Group, Nanyang Mulanhua, Marjan Investment Group, and others.

During the meeting, issues of development of cooperation between Uzbek and Chinese textile associations, large textile companies, expansion of investment activities of Chinese companies in Uzbekistan, increase in trade turnover between the countries, in particular, consideration of the issue of optimisation of rates of customs duties on the import of Uzbek textiles to China were discussed.

Particular emphasis was placed on the development of the Chinese Government's technical assistance programme aimed at training and upgrading the skills of young specialists for the textile, clothing and knitting industries. During the period January-June 2018, within the framework of this programme, 15 specialists of the industry in different regions of China were trained.

Also, the Chinese side invited representatives of the textile industry of Uzbekistan to participate in the upcoming International Exhibition "Expo China 2018" set to be held in November.

In its turn, the Uzbek Association invited Chinese companies to take part in the International Exhibition of Textile and Fashion Industry "UzTextile Expo 2018" and the international conference "Uzbekistan Textile Conference," which will be held in Tashkent on September 4-7 this year.

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