Uzbek President Shavkat Mirziyoyev has pledged to restructure the textile industry to completely recycle raw cotton internally. The ultimate aim is to increase the export potential of the sector.
The pact, titled “On measures to further deepen reforms and expand the export potential of the textile and garment and knitwear industry,” was inked by Mirziyoyev.
“My biggest goal is to provide people with work, a source of income. From now on, we will export less cotton, process it in the country and produce value-added products,” the President said.
The agenda is to, within three months, develop and endorse the concept of speeding up the development of the textile and knitting industry, from 2019-2025.
The concept will enable Uzbekistan textile industry to reprocess all the produced cotton and increase the export volumes of textiles to US $ 7 billion annually by 2025.
The decree also provides various stimulating measures for enterprises engaged in export of textile products starting from April 1, 2019.
According to National Statistical Committee of Uzbekistan, textile exports reached US $ 1.6 billion in 2018, up by 41.4 percent from 2017.
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