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The cotton potential of Uzbekistan in the focus of attention of Belgian fashion industry professionals

An article about the potential of Uzbekistan in the textile sector has been posted on the professional Belgian Internet platform of the fashion industry Fashionunited.

It reports that in March the International Labor Organization (ILO) confirmed that Uzbekistan had succeeded in completely eradicating forced and child labour from the cotton production cycle, and the Cotton Campaign lifted the global boycott of Uzbek cotton.

“Now the ILO is calling on international buyers to return to the country, which is counting on international companies and retail chains to buy Uzbek cotton again,” the publication says.

“The textile sector of Uzbekistan is once again becoming one of the key sectors of the country’s economy, employing about 350,000 people in 2021,” the article says. – In 2021, textile export growth doubled from the previous year, reaching US$3 billion. Exports are expected to reach $3.8-4.3 billion in 2022 and $7 billion in 2025, putting Uzbekistan on a par with countries like Sri Lanka and Pakistan.”

It is noted that in general in Uzbekistan there are more than 130 economic clusters engaged in the cultivation and processing of cotton, which accounts for almost 18% of the annual cotton production. As a result, fibre processing increased by 2.5 times in just two years.

It is emphasized that the international textile industry is again interested in Uzbekistan. With reference to the German agency Berliner Korrespondentenbüro, it is noted that there are many factors that again make Uzbekistan attractive for German and international companies: in addition to the availability of raw materials, the country has low production costs, a motivated workforce and many years of production experience.

“Moreover, since April 2021, Uzbekistan has been included in the EU Generalized System of Preferences (“GSP+”), which means economic incentives such as lower export duties. This facilitates foreign trade and experts expect annual exports to the EU to reach $250 million by 2022,” concludes Fashionunited.


Source: dunyo.info