NEWS AND EVENTS
October 19, 2010
Uzbekistan - leading partner on world cotton market
On 13-14 October, the Sixth International Uzbek Cotton Fair was held in Tashkent.
Contracts and agreements to purchase more than 650 thousand tons – such amount of cotton fiber were signed in the days of the fair. In addition, contracts worth more than $500 million USD were signed to export the products of domestic textile enterprises, including more than $100 million USD – for the supply of finished textile products.
The Fair ended, but the contracting continues. Foreign consumers of Uzbek cotton are convinced that Uzbekistan is a reliable partner, providing stability of supply and guarantee of high quality goods.
Major reforms undertaken in the cotton sector are complex, affecting all areas from development of new, high-yielding varieties with market needs, organizations of the international harvesting requirements, production, storage, standardization, quality and processing of cotton to the formation of the most optimal conditions for the sale and transportation of purchased volumes on existing and new routes.
The country’s leadership pays constant attention to the development and capacity building of farmers’ movement, expansion of deep processing harvest. And the farmers and producers of cotton are supplied with soft loans, advanced technologies and appliances.
More than 600 representatives of 300 foreign traders and textile companies from 36 countries came to Tashkent in this year’s fair. About 20 cotton varieties with high yield and long, clean and high color purity, with a range of micronaire from 3,5 to 4,9 – exactly as the need for which is the highest in the world, were exposed in the fair market.
“We have been buying Uzbek cotton for the Russian textile industry for 10 years,” said the purchasing director of the company FCA Commexim Pavel Mayorov. “We are sure to participate in each Cotton Fair, which allows on-site negotiation of all terms of delivery and make deal on the most profitable. Besides, there is almost all of the world cotton community that gives us a unique opportunity to be constantly aware of the dynamics of this market globally.”
The leading international experts who participated in the fair, informed traders and manufacturers about changes in supply, demand and prices on world cotton markets, characteristics of the cotton industry in different countries and recent trends in the textile industry.
The high quality of bright, all the colors of yarn and fabrics, light, elegant garments and knitwear are fully appreciated by foreign partners. And the presentations of individual textile projects were carried out within the fair.
“Thanks to the fair, we were able to establish new contacts. We expect to increase our exports to $5 million USD as the result of the agreements concluded here. Besides, we increased communication with partners in Uzbekistan and hope it will allow us to put products for 500 million soums on the domestic market,” said the sales manager of the Uzbek-Turkish sewing and knitting JV Shayhontohur Textile Rustam Rakhmatullayev.
In addition, the competitiveness of domestic textile industry is ensured by reducing the cost of production and thoughtful marketing.
The representatives of the world cotton business exchanged views on possibilities of expanding the trade cooperation with Uzbekistan. One of the results of the annual fair was the fact that the proportion of producers, the representatives of foreign textile companies significantly increased.
“Participation in the annual International Uzbek Cotton Fair creates great opportunities for our business,” said General Director of Superperfekt from Hong Kong Alois Shonberger. “Cooperation with Uzbekistan, which we have been working for 16 years, has great appeal. Primarily, Uzbek cotton has a profitable price and excellent quality. This year, we have entered into a contract to buy 30,000 tons of fiber. I am sure that we will cooperate further.”
The participants of the fair particularly emphasized the effectiveness of economic reforms held in Uzbekistan. They visited a cotton processing plant in Yangiyul, cotton terminal Toshkent-tola and a joint venture textile TashBrunnenteks.” In addition, they participated in the bidding of the Uzbek Republican Commodity Exchange, which was first organized within the fair.
The authority of Uzbekistan as one of the leaders of the world cotton business increases from year to year. One of the important links in a new market mechanism for the implementation of fiber produced in Uzbekistan has become an annual International Uzbek Cotton Fair. The sixth Fair is a prime example of effective economic policy of Uzbekistan and huge changes aimed at further strengthening of the economic power of the state, the dynamic development of all sectors and spheres.
The Deputy Prime Minister and Minister of Foreign Economic Relations, Investments and Trade of the Republic of Uzbekistan Elyor Ganiyev spoke at the closing ceremony of the fair.
UzA News Agency