Kazakhstan, Uzbekistan to expand co-op in textile industry

Business Materials 5 March 2018 11:43 (UTC +04:00)

Baku, Azerbaijan, Mar. 5

By Ali Mustafayev – Trend:

Kazakhstan and Uzbekistan plan to expand cooperation in the textile industry, intending to create a joint cluster for the processing of cotton.

This was announced at a meeting of Uzbek entrepreneurs with the Ambassador of Kazakhstan in Uzbekistan Yerik Utembayev, Kazakh TV channel reported.

"The textile industry is one of the important business cards of the country. We have accumulated a lot of experience in the production of textile products, including cotton planting, processing, export and this experience is very important for us," Utembayev said.

According to expert estimates, the project will be useful for both countries. Farmers of the two countries will be able to exchange their experience, and the cost of goods for the Kazakh market, due to cooperation, is expected to be lower. All this together will give a great impetus to the development of the textile industry, both in Uzbekistan and in Kazakhstan.

The joint project is expected to become a basis for the development of the textile industry of Kazakhstan and Uzbekistan, as well as strengthen the bilateral economic cooperation.

The countries also work on implementation of several investment projects to increase the volume of exports and imports.