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Fifty textile brands from Europe and the USA to be attracted to Uzbekistan market

By the end of 2022, at least 50 foreign brands should be involved in the production of textile products in Uzbekistan. President Shavkat Mirziyoyev ordered this at a meeting on June 28. “After the boycott of Uzbek cotton has been lifted, large foreign companies and brands are showing great interest in cooperation with local enterprises and in national products,” the president explained.

Mirziyoyev instructed the ambassadors of Uzbekistan to Spain, Germany and Sweden, Great Britain, France, Italy, Poland, Japan, Turkey and the United States to deal with this issue. He set the task of exhibiting at international exhibitions the products of at least 30 Uzbek manufacturers and gaining orders for at least $50 million.

In order to increase the volume of production and export of finished textile products, separate industrial zones with broad conditions for entrepreneurs will be created in Uzbekistan. Special flights will be launched to supply finished products to foreign brands. The Export Promotion Agency will allocate resources to exporting enterprises to replenish working capital. The limit on the area of warehouses abroad, the rental costs of which are subject to compensation, will be increased from 100 to 500 square meters; $100 million will be allocated for these purposes.

Mirziyoyev stressed the need for the transition of textile enterprises to international financial reporting standards. “This will pave the way for entering the global market, cooperation with foreign brands and attracting direct loans,” the president said.

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