Uzbekistan & Turkey Plan To Launch Textile Trade Centre
Uzbekistan and Turkey are planning to create a wholesale trade centre called Textilkent for textile products and knitted garments. The centre will be inspired by similar centres created in Turkey and Europe. Preliminary agreements were made on the establishment of this project during president Recep Tayyip Erdogan’s recent visit to Uzbekistan.
A Turkish business delegation led by president Erdogan recently visited Uzbekistan. A forum that witnessed the participation of Turkish and Uzbek companies was held at the Uzexpocenter. The Uztekstilprom association made a presentation for the delegation, informing them about its achievements and prospects and opportunities for international cooperation in the textile sector.
The idea for the creation of Textilkent was suggested during a meeting held with Mehmet Demezoglu, the head of Demez Oglu which manufactures and supplies products to some big brands including Versace, Dolce & Gabbana, Moschino and Aeronautica, as per the Uzbek media reports.
Negotiations were held between Turkish companies and various Uzbek firms, which can become their potential trade partners. Detailed information of the Uzbekistan textile industry was also provided to the Turkish delegation to attract foreign investment. Joint ventures between the companies of the two nations for manufacturing finished textiles, hosiery, knitwear and sewing products, curtains and more could also be on the cards.
A meeting was also conducted between the Uzbek representatives and Nail Olpak, the president of the council for foreign economic relations of Turkey, to discuss the reduction of excise duties on products from Uzbekistan.
Trade between the two countries amounted to $1.5 billion in 2017. Uzbekistan exported textile products like cotton yarn, carpets, knitted fabrics and goods, sewing goods and more worth $109.5 million to Turkey in the same year. The figure has already reached $40 million for these products in Q1 2018