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Related Keywords: BTK, China, establish technical textiles, fabric, high-tech synthetic textiles, Kyrgyzstan, large textile cluster, National Investment and Finance Corporation, NIFC, Russian company, Russian Ryazan region

BTK is not the only Russian company, which plans to establish large-scale production of technical textiles. Several days ago the National Investment and Finance Corporation (NIFC), one of Russia’s largest investment corporations also announced the establishment of the large cluster for the production of textile and technical textile products in the Russian Ryazan region.

Related Keywords: duty free access, EU market, Generalized System of Preferences, investment opportunity, Kyrgystan textile sector, Kyrgyzstan, reduced customs duty, Textile

Kyrgyzstan has been using the scheme of Generalized System of Preferences (GSP) since 1993. Under this scheme, the EU provides preferences for the import of about 7,000 items. Of these, 3,300 headings provided duty-free access, and 3,700 apply reduced rates of customs duties.

Kyrgyzstan plans to join the updated system of general preferences of the European Union, the Ministry of Economy of the KR reported.