Tashkent, Uzbekistan (UzDaily.com) -- A webinar on the topic "Uzbekistan - opportunities for cooperation in the textile and clothing industry" was held in Germany, organized by the Dusseldorf Chamber of Commerce and Industry together with the Berlin Economics research group with the assistance of the Embassy of our country, Association "Uztekstilprom" and the Representative Office of the German economy in Central Asia, Dunyo news agency reported.

The webinar was attended by representatives of 66 German and European companies interested in doing business with Uzbek textile and clothing enterprises.

During the event, representatives of the Uztekstilprom Association presented the potential of the textile industry of Uzbekistan, implemented projects with the introduction of a cluster form of organizing cotton and textile production with the involvement of highly qualified foreign specialists, as well as long-term plans for the further development of the industry, information on favorable conditions created in the republic for doing business, including enterprises with foreign capital within free economic zones.

In his speech, Waldemar Walter, an expert from the Berlin Economics research group, spoke about the current situation in international markets and the competitive advantages of doing business in Uzbekistan. The German expert made a special emphasis on the positive forecasts of influential international financial institutions regarding the growth of the economy of our country, despite the coronavirus pandemic, as well as the measures taken by the government of Uzbekistan to ensure macroeconomic stability and create favorable conditions for foreign investors in the republic.

So, according to Waldemar Walter, according to the forecasts of the International Monetary Fund, by the end of 2020, Uzbekistan is expected to have a positive economic growth of 0.7%, in the absence of a negative impact of the coronavirus pandemic, the republic’s economy would grow by 6.0%. 

Despite the restrictive measures aimed at combating the spread of coronavirus, agriculture in Uzbekistan was practically not affected and showed an increase of 3.4% in 9 months of 2020. At the same time, during this period in the industrial sector there was a decline of 2.7%, which is caused by a sharp decline in demand in the manufacturing sector and utilities. 

At the same time, the government of Uzbekistan is taking large-scale measures to support the economy, in connection with which in 2020 the budget deficit is expected to grow to 7.5% of GDP. Despite this, Uzbekistan, having huge international reserves of US$33.5 billion, will be able to ensure the country’s macroeconomic stability and, if necessary, cover all the costs associated with the country’s imports for 14 months.

Florian Nitzinger, a representative of the German Society for International Cooperation (GIZ), who spoke at the event, informed the audience about projects for growing organic cotton and the potential for establishing cooperation with Uzbek producers of "organic cotton". Information was also provided on measures taken in Uzbekistan to eradicate child and forced labor, which was recognized in the framework of the independent monitoring of the International Labor Organization.

Along with this, the representative of GIZ noted that a huge work is being done in Uzbekistan to introduce the latest technologies in the textile industry, and considerable attention is also paid to improving the quality of products and compliance with environmental safety requirements. The leading enterprises of the industry have been certified within the framework of the quality management system, which ensures competitiveness and confirms the level of reliability of enterprises and the compliance of products with international standards.

As a result of the speeches, a lively discussion took place, during which the participants of the webinar discussed various aspects of the development of the textile and clothing industry in Uzbekistan, including the system of cluster operation, the prospects for growing organic cotton and others. Agreements were reached on establishing partnerships between Uzbek manufacturers and a number of German and European companies in various areas, including organizing the export of Uzbek finished textile products.

The Dusseldorf Chamber of Commerce and Industry was founded in 1831 and is one of the largest business associations in Germany. Its members are over 80 thousand small, medium and large businesses in various industries. The activities of the CCI cover not only the capital of the federal state of North Rhine-Westphalia, Dusseldorf, but also the cities of the adjacent Mettmann district.