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Bpifrance ready to finance textile projects in Uzbekistan

Business Materials 4 March 2019 12:40 (UTC +04:00)

Baku, Azerbaijan, March 4

By Fakhri Vakilov - Trend:

The State Investment Bank of France Bpifrance is ready to finance projects in the textile industry of Uzbekistan, Trend reports with reference to Uztextileprom.

Delegation of a French bank led by Regional Director Emmanuel Breschard discussed the details with the management Uztextileprom Association.

"The French side expressed interest in investing in joint projects in Uzbekistan. Breschard offered to finance projects in the textile sector. In particular, the talk was about supplying French technologies and equipment to the Uzbek market," Uztextile said.

As a result of negotiations, preliminary agreements were reached on attracting large companies and financial institutions in France to implement joint investment projects in the textile industry.

Following the visit of Uzbek President to France last year, contracts and agreements worth $5 billion were signed. Moreover, on the eve of this visit, Uzbekistan introduced a visa-free regime for French citizens.

Last year, the volume of trade between the countries exceeded $306 million, with a 19 percent increase compared to 2017. At present, 16 enterprises with the participation of French capital, including two with 100 percent foreign capital, operate in Uzbekistan.

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