Uzbekistan eyes expanding cooperation with Austria in textile industry

Uzbekistan Materials 20 May 2021 11:33 (UTC +04:00)
Uzbekistan eyes expanding cooperation with Austria in textile industry

BAKU, Azerbaijan, May 20

By Klavdiya Romakayeva - Trend:

Austria expressed interest in establishing mutually beneficial cooperation on the implementation of joint investment projects in the textile industry of Uzbekistan, Trend reports referring to the Uzbek embassy in Austria.

Ambassador of Uzbekistan Abat Fayzullayev held negotiations with the chairman of the Association of Textile, Fashion, Footwear and Leather Industry of Austria Manfred Kern, during which they discussed issues of expanding cooperation in the textile industry, as well as attracting foreign direct investment from Austrian companies in the Uzbek economy.

The parties indicated the created conditions and an improved legal framework for the implementation of successful investment activities in Uzbekistan. Also, the created new production capacities with the use of innovative technologies, as well as the types of manufactured export-oriented goods were outlined.

It is reported that the parties agreed to organize a webinar with the participation of specialized Austrian companies in order to better familiarize the Austrian business community with the economic potential of Uzbekistan in the textile industry, the existing investment climate, as well as the possibilities of mutually beneficial cooperation with textile enterprises of Uzbekistan.

In addition, during the meeting, the parties exchanged views on the organization of an Austrian business mission to Uzbekistan to study the existing potential in the trade and economic direction.

Also, the Ambassador of Uzbekistan invited the Austrian side to ‘Global Textile Days Spring’ exhibition week and the third International Exhibition of Textile and Fashion Industry ‘UzTextile Expo Spring 2021’, organized by the Association of Textile and Clothing and Textile Industries Enterprises in Tashkent on May 26-30.

The Austrian Textile, Fashion, Footwear and Leather Industry Association is the body that promotes the interests of the country's textile industry in international markets. Along with legal services, the Association's responsibilities also include the regular study of the structure of exports, imports and sales, research of new markets and the provision of summary and analytical information on the conjuncture of the global textile market.

It is noted that the association has 221 members, with a foreign trade turnover of 3.4 billion euros. Also, the members of the association provide more than 12,000 jobs.


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