Recently, Uzbek President Shavkat Mirziyoyev has set a goal to attract 50 popular foreign brands to the country’s textile industry and ordered generation of an additional $9 billion in annual revenue by processing yarn into finished products.
According to Mirziyoyev, if foreign brands are not brought to our regions, it will be difficult for domestic products to compete in the world market.
After an international boycott on Uzbek cotton was lifted early this year, foreign companies have been showing great interest in products produced in Uzbekistan, he added.
Meanwhile, since 2016, the country’s volume of textile production has increased by five times, and exports by four times, reaching almost $3 billion.
Also, during the period, reprocessing of cotton rose to 100 percent from 40 percent.
However, the degree of processing yarn into finished products still remains low at 23 percent, meaning the domestic industry is missing a $9 billion opportunity every year.
Uzbekistan produces around 3 million tons of cotton annually and plans to increase production by implementing new agricultural technologies, including drip irrigation.