Uzbek company to export new volumes of textile to China
Baku, Azerbaijan, March 22
By Ali Mustafayev – Trend:
Uzbekistan’s UzTrade company signed a contract for the supply of textile products and semi-finished products worth over $2 million to China, the press service of the Ministry of Foreign Trade of Uzbekistan said in a message.
The arrangements were concluded within the international exhibition of fiber and yarn Yarn Expo – 2018, held in China.
Representatives of UzTrade met with the leading Chinese companies of the textile industry - Xiamen Itg Tidak Bonded Logistics, Tianjin Textile Industrial Supply and Sale and China Chengtong International, and discussed expansion of supplies of Uzbek textile products to the Chinese market.
In addition, the parties discussed the issue of opening a joint Uzbek-Chinese trading house in Shanghai in 2018.
Uzbekistan and China intend to bring the volume of bilateral trade to $10 billion until 2020. In 2016, the trade turnover between the countries exceeded $4.2 billion.
In 2017, China was Uzbekistan’s largest trade partner, with 18.4 percent of share in the country’s foreign trade.
Currently, over 700 enterprises with the participation of Chinese investments, as well as representative offices of 73 Chinese companies work in Uzbekistan.