Mechanism of export financing for the textile industry presented in Tashkent

Tashkent, Uzbekistan (UzDaily.com) -- On 7 June, a presentation was held in Tashkent on the topic: “Possibilities for Financing Textile Projects by Swiss Banks for Export Insurance SERV” SERV ”.

The event was organized by the Swiss company RIETER with the support of the Association "Uztekstilprom". With the participation of representatives of the Swiss State Insurance Company SERV and Swiss banks Credit Suisse, ZKB (Zurich Cantonal Bank), UBS and Commerzbank Zurich.

Uzbekistan’s business circles are showing great interest in acquiring equipment and technologies of Swiss origin in the field of the textile industry.

For the first time in Uzbekistan, financing opportunities involving foreign resources from Commerzbank, ZKB, Credit Suisse and UBS with the support of SERV for textile spinning projects were discussed in detail.

According to the Swiss side, this cooperation is not only commercial in nature, but also serves to establish strategic relations between the Association "Uztextile" and Swiss banks and insurance companies, designed for many years of fruitful cooperation.

Participants were given the opportunity to hold discussions with representatives of the Swiss side. Examples of export financing using Swiss export credit agencies are given.

During the presentation all possible issues in the field of insurance and financing in the textile sector were revealed.

As a result of the event, an agreement was reached on joint consideration of the possibility of financing investment projects to expand the production capacity of the textile industries of domestic enterprises in the industry, as well as insuring export credits and investments against the risks of non-payment.