13.02.19.

Uzbekistan, one of the world's leading cotton producers and exporters, aims to increase its textile products export to $ 7 billion through processing all of the yarn produced in 2025.

President Shavkat Mirziyoyev has signed a decree stipulating the development of the textile, clothing and knitwear industry sector and the export potential of the country.

According to the decree, the Uzbek government aims to process all of the cotton produced in the country in its own textile factories and export of textile products to $ 7 billion in 2025 through recognition of various privileges to textile enterprises in the country in order to develop the textile sector in 2019-2025..

For this purpose, starting from April 1, a portion of the credit interest received by enterprises exporting at least 80 percent of the textile products produced in 2019-2025 will be covered by the State Fund for Supporting Entrepreneurship.

In 2018, Uzbekistan exports 1.5 billion dollars of textile products abroad, and this figure is expected to increase to $ 1.9 billion in 2019.

While nearly 3 million tons of cotton are produced annually in Uzbekistan, which is the sixth in the world and fifth in the world in cotton exports, 60 percent of this cotton is still exported. The Uzbek authorities had previously expressed their interest in developing the textile sector and  gradually reducing the export of cotton abroad.

http://kabar.kg/tur/news/ozbekistan-2025te-7-milyar-dolarl-k-tekstil-urunleri-ihrac-edecek/