Uzbekistan plans to increase cotton-fiber processing up to 70% by 2015

Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan is planning to increase the volume of internal cotton-fiber processing up to 70% in next three years, Prime Minister of Uzbekistan Shavkat Mirziyayev said at the opening the Eighth International Uzbek Cotton and Textile Fair in Tashkent.

The Eighth International Uzbek Cotton and Textile Fair started its work in Tashkent on 17 October. Over 1,000 foreign companies, working in cotton and textile industry, from 38 countries are participating at the event.

Shavkat Mirziyayev said that Uzbekistan produces 3.5 million tonnes of raw cotton in average and 1.1 million tonnes of cotton-fiber, as well as 1.7 million tonnes of cotton seeds. Main buyers of the Uzbek cotton are Bangladesh (39%), China (13%) and South Korea (7%).

He said that over 2,200 enterprises registered in light industry of Uzbekistan. He said that over 280 enterprises on processing cotton fiber with capacity of over 400,000 tonnes work in the country. He said seventeen enterprises were launched in the past period of 2012.

Mirziyayev said that Uzbekistan develops such industries as silk-weaving, carpet production, knitwork and ready-made garments production, ready fabrics, and hosiery along with launching new cotton-fiber processing capacities.

According to him, total sum of attracted foreign investments to development of textile industry of Uzbekistan made up about US$2 billion. This year, foreign investments for US$100 million were attracted. The investment helped to organize production of high quality products, including yarn, fabrics, silk, knitwork, which are highly demanded in the world market.

Shavkat Mirziyayev said Uzbekistan plans annually increase the volume of production of textile products by 20% and exports – by 10%.

He said that in next three years it is planned to increase cotton processing volume up to 70% due to launch of new capacities.

Uzbek Prime Minister noted that the country also pays attention to increasing exports geography along with expanding processing capacities. He said that Uzbekistan plans to increase exports to those countries, where there is high demand for the Uzbek cotton-fiber.

According to the Ministry of Foreign Economic Relations, Investment and Trade of Uzbekistan (MFERIT), the country plans to decrease exports of cotton-fiber from 620,000 tonnes in 2011/2012 season to 600,000 tonnes in 2012/2013 season due to increasing internal processing.

MFERIT said that the capacity of cotton-fiber processing will grow by 50,000 tonnes till the end of 2012 to 450,000 tonnes.

In 2011-2015, Uzbekistan plans to attract US$1.7 billion to textile industry and implement 55 investment projects, which will allow to increase the volume of internal processing of cotton-fiber from 40% in 2012 to 70% in 2015.