Tex­tile Hori­zons

Uzbekistan Today (English) - - BUSINESS -

Un­til the end of 2018, Uzbek­istan in­tends to sup­ply tex­tile prod­ucts worth $ 70 mil­lion to South Korea.

Agree­ments on this were achieved dur­ing the ne­go­ti­a­tions of the del­e­ga­tion of Uzbek yen gil san oat with the heads of ma­jor Korean trad­ing com­pa­nies Posco Dae­woo, Color Par­adise, Sol­sang In­ter­na­tional Corp, Ra­tel E &T Co ., Ltd, Korea Fac­tory, and Lotte Mart.

Korean busi­ness­men es­pe­cially liked the dyed and mélange yarn, terry and hosiery of the group of com­pa­nies Uz­tex, Os­borne Tex­tile, as well as knit­ted and denim prod­ucts of Uzbek brands Bo­fanda and Bonito.

At a meet­ing with the lead­er­ship of the Korean In­ter­na­tional Trade As­so­ci­a­tion KITA and the na­tional elec­tronic trad­ing plat­form KTNET, agree­ments were reached on joint ac­tiv­i­ties to pro­mote Uzbek tex­tile prod­ucts in Korea through 2017-2018 through the elec­tronic trad­ing plat­form KOREA Trade, pro­vid­ing ser­vices through rep­re­sen­ta­tions of Uzbek com­pa­nies in Korea or Korean im­porters and trans­port com­pa­nies for cus­toms clear­ance elec­tron­i­cally on­line.

It should be re­minded that since the be­gin­ning of the year, var­i­ous tex­tile semifin­ished prod­ucts and other prod­ucts were ex­ported to the Korean mar­ket for

$ 23.4 mil­lion. Also this year, a suc­cess­ful sup­ply of knitwear prod­ucts to Lotte Mart re­tail chains, dyed and mélange yarn for Korean man­u­fac­tur­ers of socks and knit­ted goods started.

In ad­di­tion, one of the world's largest man­u­fac­tur­ers of branded tex­tile prod­ucts - South Korean Youn­gone Cor­po­ra­tion - plans to build a new plant in the Buka district of the Tashkent re­gion.

The South Korean com­pany or­ga­nizes dye­ing and sewing pro­duc­tion in the Buka district, sewing pro­duc­tion with a de­sign and train­ing cen­ter in Sa­markand, and also im­ple­ments a so­cial pro­ject to sup­port the ac­tiv­i­ties of the El Merosi cul­tural cen­ter in Sa­markand. The to­tal amount of for­eign di­rect in­vest­ment by Youn­gone Cor­po­ra­tion will ex­ceed $ 20 mil­lion.

We note that to­day the an­nual turnover of Youn­gone Cor­po­ra­tion is $ 2 bil­lion, and the com­pany's pro­duc­tion fa­cil­i­ties are lo­cated in Bangladesh, Viet­nam, China and San Sal­vador.

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