Uzbekistan, a major textile centre, has expressed its willingness to have joint ventures or give the companies owned by its textile ministry for takeover with attractive terms and conditions.
This was disclosed by A Shaktivel, president of Tirupur Exporters’ Association (TEA), who recently led a 16-member trade delegation to that country.
Terming the trip successful, very positive and fruitful, Shaktivel said the delegation had visited many spinning mills, weaving and non-weaving factories including garment units and the delegation was offered for joint ventures or takeover of the companies owned by Uzbekistan textile ministry.
Uzbekistan, the sixth largest cotton producer in the world, was also ready to offer discount in the cotton prices from the Liverpool auction price, Shaktivel said in a release today.
Other attractive features include cheap labour, low power cost and gas cost, apart from income tax holiday for investors and VAT refund for exporters, he said.
As the delegation found the features attractive in Uzbekistan, the members held discussions with Ruzukulor Rahamatullo, Minister of Textile and Chairman of State Joint Stock Company.
As Uzbekistan was ready to extend all the facilities and the delegation showing keen interest, the exporters could bring yarn and fabrics to Tirupur and use it for garment exports, once the proposals are materialised, Shaktivel said.