Local company to supply Portugal, Belgium with textile products
Azerbaijan intends to expand and strengthen its activities in production of textile products.
Azerbaijan's Mingachevir Textile LLC has established deliveries of its products to Portugal and Belgium, Rashad Karimov, the public relations manager of the company, told Trend.
Karimov noted that presently, the company's products are exported to Turkey and Russia.
"We intend to further expand the geography of exports. In particular, it is envisaged to expand deliveries to non-CIS markets. Currently, about 80 percent of the products manufactured at the factory are exported. The rest is sold in the domestic market, mainly to large enterprises of the textile industry. The plans of the enterprise for the current year include increasing production volumes, as well as expanding international cooperation," Karimov said.
The products manufactured by the company in 2019 will be on display at the industry exhibition "International Istanbul Yarn Fair", which will be held on February 28, 2019 in Istanbul.
Mingachevir Textile LLC was established in February 2018 on the territory of the Mingachevir Industrial Park. The company uses equipment from leading companies of Germany, Switzerland and Japan.
The plant will produce 20,000 tons of yarn per year based on the technology of countries such as Germany, Switzerland, Japan and Turkey in the 14.5 hectare land area of the Industrial Park. Enterprises that produce yarns on two types of cotton raw materials (by Ring and Open End) will be one of the most modern lightweight factories in the South Caucasus.
National Fund for Entrepreneurship Support of the Ministry of Economy allocated a 10 million manat soft loan to create plants of Mingachevir Textile LLC with a total cost of 144 million manat.
The launch of textile enterprises is of particular importance in reducing dependence on imports in the light industry, increasing export potential, creating national textile brands, training of qualified personnel and opening new jobs, allowing the development of the textile industry in the country.
Textile industry of Azerbaijan has deep roots and centuries-old history. The socio-economic policy pursued in Azerbaijan in recent years, as well as the implementation of programs aimed at the development of agriculture and industry, led to the implementation of large-scale projects in this area.
The Association of Textile Producers and Exporters was established to support the development of this sector in Azerbaijan. The initiative on the establishment of this association was put forward by entrepreneurs involved in the textile sector. In general, such associations serve to improve relations between the state and the private sector.
The development of cotton growing in Azerbaijan gives impetus to the development of the textile industry. The further development of textile industry has great potential in Azerbaijan, since in early 2017, the State Program for 2017-2022 was approved with an aim of strengthening measures directed at developing cotton-growing in the country. The purpose is to develop cotton growing, increase export potential in this sphere, ensure employment of the rural population and increase the production of cotton.