Uzbekistan'S Annual Export Volume Of Textiles Will Reach US $7 Billion In 2025.

President Mir Ziyoev of Uzbekistan signed a decree recently to deepen the reform of the textile industry and release the export potential of the textile industry.

The decree requires the Ukrainian government to formulate and approve plans for the accelerated development of the textile industry within 3 months.

According to the decree, Uzbekistan will remanufacture all domestic cotton and increase its textile exports to more than US $7 billion a year by 2025.

Abu Cosmo J, an economics professor at Uzbekistan National University, said that in recent years, the Uzbekistan government has provided many preferential policies for export enterprises, including the establishment of special funds to support the export of small and medium-sized enterprises, and the provision of export credits and insurance for private enterprises. These measures have led to the rapid growth of textile exports in the country.

According to the data of Uzbekistan Textile Industry Association, as of the end of last year, there were more than 150 joint venture textile enterprises in the Ukrainian Communist Party, and investors mainly came from Turkey, South Korea, China, Germany, the United Kingdom and Russia.

Uzbekistan is rich in cotton.

According to statistics, Uzbekistan produces about 3 million 500 thousand tons of raw cotton and nearly 1 million 200 thousand tons of cotton fiber every year.

Nearly half of the cotton fiber is used for export.

In 2017, Uzbekistan's cotton textile exports amounted to 477 thousand tons, down 25.2% from last year, and exports accounted for 3.4%, and domestic cotton fiber production decreased 8% from last year to 951 thousand and 900 tons.

Uzbekistan plans to ban cotton exports in 2019, and to give up exports of cotton fibers in 2025 to fully supply its processing in the domestic market.

According to the statistical data of Uzbekistan National Statistical Commission, Uzbekistan exported $1 billion 600 million in 2018, an increase of 41.4% over the previous year, accounting for 11.2% of the country's total exports.

Uzbekistan textile industry responsible person expressed the hope that China will seize the opportunity, increase investment in Uzbekistan, make full use of China's advanced technology and management experience, and promote the development of Uzbekistan's textile and apparel industry chain.

"One of our tasks is to halt the export of cotton fiber in 2025 and ensure domestic production and processing needs."

The person in charge said.

According to her estimate, in 2018, Uzbekistan textile enterprises could produce about 520 thousand tons of cotton fiber, and the planned processing capacity was 720 thousand tons.

In recent years, the textile industry in the Uzbekistan region has developed rapidly. There are more than 7000 textile enterprises, 150 foreign owned and joint ventures, and attracting more than 3 billion 100 million US dollars in all kinds of investments. Over 40% of them are foreign direct investment, and 15 textile industrial clusters have been built, and 50 industrial clusters will be built in the future.

The Uzbekistan textile industry plans to implement a diversified and modernized rectification plan worth $2 billion 500 million from 2018 to 2021, increasing the textile output to 2.6 times the current level, and increasing the textile export volume by 3.7 times by 2025.