Uzbekistan, South Korea implement projects to manufacture shirt fabrics
Baku, Azerbaijan, Jan. 21
The Uzbek Textile Industry Association organized a visit of Korean “Daewon Co” delegation to Uzbekistan from 15 to 19 January, Trend reports with reference to UzDaily.
Press service of the Association states that the work on the project of organizing the production of shirts and other types of fabrics is advancing in accordance with Uzbekistan President’s Decree № RP-3406 "On measures to further strengthen and expand bilateral cooperation between the Republic of Uzbekistan and the Republic of Korea" from November, 27, 2017.
Investment proposals for cooperation in the textile industry were discussed during the meeting between the leadership Association and South Korean delegation.
The Korean side expressed its readiness to realize project for creation a production of shirt and other types of fabrics as well as finished products worth $ 10 million with manufacture capacity of 1.8 million square meters of blended fabric in Tashkent region. The project is planned to be implemented jointly with the domestic company Istiklol Design.
They discussed the development of a business plan for the project alongside with the information on current state of blended fabrics market in Uzbekistan.
Moreover, Uzbek Textile Industry Association organized a visit of Korean "YoungNam Spinning Co., LTD" delegation headed by the company president Mr. Wang Yong Kim to Uzbekistan.
The purpose of the visit was to familiarize with the investment potential of Uzbekistan and conduct preliminary economic and marketing research.
At the end of the visit, the company declared interest in the realization of an investment project to organize the manufacture of textile products in Samarkand region.