Uzbekistan, Tashkent, Oct.14 / Trend D. Azizov /
Uzbekistan intends in 2011 to increase domestic consumption and processing of cotton fiber to 400,000 tons, the First Deputy Minister of Foreign Economic Relations, Investments and Trade Nasriddin Najimov said at the International Uzbek Cotton Fair.
"In 2011, it is expected to increase cotton consumption in Uzbekistan to more than 400,000 tons, and by late 2010 - more than 350,000 tons", Najimov said.
He said it is expected to produce cotton-fiber in Uzbekistan in the amount of 1.1 million tons in the 2010-2011 season, and increase in domestic processing of cotton-fiber will reduce its export.
According to forecasts of the State Joint Stock Company (SJC) Uzbekengilsanoat (Uzbeklegprom), in 2010 export of textile products in Uzbekistan exceeds $ 600 million and by 2015 it will hit over two billion dollars.
According to the program of development of textile and light industry of Uzbekistan for the period 2010-2015, the country plans implementation of 100 investment projects worth over $1.6 billion.
Implementation of these projects will bring the level of processing of cotton-fiber in 2016 to 80 percent of the total production and increase export potential of industry in Uzbekistan more than threefold.
Today the textile industry of the republic attracted more than $1.3 billion investments.
Uzbekistan has a production capacity on production of cotton yarn in the amount of 360,000 tons, cotton fabrics - 210 million square meters, stockinet - 90,000 tons, sewing and knitted products - 200 million pieces and hosiery - 60 million pairs.
Over 600,000 tonnes of cotton-fiber will put for sale at the fair. Uzbekistan expects to sign contracts on cotton-fiber exports for US$500 million.
The Sixth International Uzbek Cotton Fair is organized by the Izbek Government with the support of the International Cotton Advisory Committee. The first similar fair was held in October 2005.
About 300 companies and over 500 foreign partners from 34 countries confirmed their participation at the fair.