Uzbekistan, China implement joint textile projects
By Abdul Kerimkhanov
Uzbekistan together with Chinese companies Jinsheng Group, Nanyang M&F Industrial Co Ltd, Shanghai Marjan Industrial Co Ltd and others is implementing a number of projects in the textile industry totaling more than $130 million.
This became known during the presentation of the potential of trade, economic and investment cooperation between Uzbekistan and China held in Tashkent, Uzbek media reported.
The purpose of the event was to establish cooperation between the companies of the two countries, which specialize in the textile and garment industry.
The Subcommittee of the Xi'an city Committee for the Promotion of International Trade of China, the Xinjiang Huahe International business consulting company, the Alvatex Ltd company and the Shaanxi scientific and technological company represented the Chinese side.
It was noted that the export of Uzbek textile products to China made up $297 million in 2018, and $143 million as of the first quarter of this year.
Such large Chinese textile corporations as Jinsheng Group, Nanyang M&F Industrial Co Ltd, Shanghai Marjan Industrial Co Ltd and more than 30 other textile enterprises with the participation of Chinese foreign direct investment carry out investments in Uzbekistan.
So far, 12 major investment projects have been implemented in Uzbekistan with the participation of Chinese partners, including projects for the production of cotton yarn, fabrics, knitted fabrics, finished textile products totaling more than $240 million.
The event also included a meeting in the B2B format. During the meeting, the parties discussed the prospects for further development of Uzbek-Chinese trade and economic cooperation.
The event participants noted that the countries have great potential for further development of trade and economic cooperation, and this meeting will serve as an additional incentive for the start of activities of new Chinese investors in Uzbekistan.
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Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94
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