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Pak APTMA, Bukhara governor sign MoU for textile complex in Uzbekistan

20 Jul '21
2 min read
Pic: Shutterstock
Pic: Shutterstock

The All Pakistan Textile Mills Association (APTMA) last week signed a memorandum of understanding (MoU) with the governor of Bukhara in Uzbekistan to build a textile complex there. The planned complex would cover 30,000 hectares and will have a vast space reserved for cultivating cotton. Spinning, weaving, processing and garment units will also be built at a cost of $100 million.

APTMA leader Gohar Ijaz Ijaz hoped that Pakistan’s cotton exports would reach $18 billion by next year, according to Pakistani media reports.

On an average, Pakistan exports textile products worth $15.5 billion from a million tonnes of cotton it produces annually, while Uzbekistan, exports textile products worth $2 billion from the same quantity of the crop.

Uzbekistan and Pakistan recently agreed to finalise a preferential trade agreement (PTA) within three months to boost bilateral trade volume. At the 6th meeting of the Uzbek-Pakistani Inter-governmental Commission on Trade-Economic and Scientific-Technical Cooperation (IGC) in Tashkent, both sides agreed to form joint working groups on several sectors to boost cooperation.

The meeting was co-chaired by Uzbek deputy prime minister and minister of investments and foreign trade Sardor Umurzakov and Pakistan’s commerce adviser to the prime minister Abdul Razak Dawood.

Fibre2Fashion News Desk (DS)

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