Chinese investments flow into the textile industry of Uzbekistan show an increase

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 optimization of rates of customs duties on the import of Uzbek textiles to China were discussed during the meeting.

Certain importance was put on the development of the Chinese Government’s technical assistance program aimed at training and upgrading the skills of young specialists for the textile, clothing and knitting industries.

Within the framework of this program during the period January-June 2018, 15 specialists of the industry in the different regions of China were trained.

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, in the period 2010-2014. $670 millions amount was the export potential of these enterprises.

The Chinese side was provided with information on successfully executed and currently implemented projects with the participation of Chinese companies such as Jinsheng group, Nanyang Mulanhua, Marjan Investment Group, and others. The Chinese side also 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 it’s turn, the 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.

Chinese investments flow into the textile industry of Uzbekistan has registered an increase which was noted during the meeting of the leadership of the Uztekstilprom association with Chinese Ambassador to Uzbekistan Jiang Yan, Uzbek media outlets reported. The amount of Chinese investments in the country’s textile industry exceeds $ 200 million as disclosed.