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Investment potential of Uzbekistan presented in the USA

21 June 2022 [22:18] - TODAY.AZ

By Trend

The famous Textile Museum of the George Washington University presented the potential for implementing joint commercial and investment projects in the textile sector of Uzbekistan, Trend reports citing Uzdaily.

The presentation was attended by the Chairman of the Senate of the Oliy Majlis of Uzbekistan, the Chairman of the National Commission on Combating Human Trafficking and Forced Labor Tanzila Narbayeva, representatives of the Uztekstilprom associations and cotton-textile clusters of Uzbekistan, the US textile industry, American investors in the agricultural sector of Uzbekistan - CNH Industrial and John Deere, Trade Association National Cotton Council, Global Trade Alliance of America, United States Commercial Service, State Department and Diplomatic Corps, International Finance Corporation and World Bank.

At the beginning of the event, the competitive advantages of the textile industry of Uzbekistan, the features of the development of cluster production in agriculture and the mechanization of the cotton harvest were discussed in detail. Efforts were explained to create modern enterprises within the cluster system of Uzbekistan with the ability to ensure full transparency regarding labor practices and trace all stages of the production cycle - from growing cotton to its deep processing and production of finished products.

The participants also received information about the benefits and preferences provided in Uzbekistan for foreign investors, the existing potential in the field of processing cotton fiber, the production of value-added products, the needs of the internal and external markets of Uzbekistan.

The national textile companies UztexGroup, Bunyoidkor Textile, Nil Granit and Haj Textile separately presented the production and export potential of their enterprises.

The representative of the White & Case company, K. Yong, noted that “thanks to the level of state support and revolutionary changes in agriculture, the textile sector of Uzbekistan is demonstrating unprecedented growth rates.”

The president of Fonttheim International K. Fontaine, who represents the interests of many US textile brands, noted that "the textile and clothing industry of Uzbekistan has a historic opportunity to expand its presence in the European and American markets."

During the presentation, clarifications were given to questions of interest to the participants regarding the mechanisms used in the cluster system of Uzbekistan to ensure traceability in supply chains, standards for environmental protection, social policy and corporate governance (ESG), transport routes and export markets for finished textile products.


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