OREANDA-NEWS. This has been clearly demonstrated at IX International Uzbek Cotton and Textile Fair, organized on the initiative of President Islam Karimov on 16-17 October in Tashkent.

Contracts for the purchase of more than 680,000 tons of Uzbek cotton fiber, as well as for the supply of the domestic textile products for over 1 bln. USD have been signed during the event. Demand for cotton and textiles, made ??in Uzbekistan , is very high in the world market, therefore , as in previous years, the contracting process will continue. Established new business contacts at the fair will only contribute towards the goal.

As noted at the international conference, held on the opening day of the IX International Uzbek Cotton and Textile Fair, its credibility and efficiency on the world stage has been constantly increasing. This is one more vivid confirmation of high effectiveness of large-scale economic reforms, carried out in our country on the basis of the “Uzbek model” of development, developed by President Islam Karimov, which has received worldwide recognition. Successive changes in the economy on the basis of market relations, its deep restructuring, diversification, modernization, technical and technological renovation, favorable conditions for raising interest of manufacturers in the production of finished products with high added value and export expansion - all this have become the most important factors in improving the competitiveness of domestic products in foreign markets. In turn, this contributes to the further development of the real sector of the economy, including the cotton-textile complex, which makes an important contribution to the stable growth of Uzbekistan's GDP, that is to the well-being of the population, development and prosperity of the country.

Foreign participants of the fair from all around the world have expressed great interest in expanding trade, economic and investment cooperation with Uzbekistan. Our country is one of the world's largest producers and exporters of cotton fiber. The policy of Uzbekistan in this area is characterized by maintaining stable volumes of cotton-growing while increasing the volume of fiber production and its quality characteristics, breeding high yielding varieties and the use of the most advanced agricultural technologies, complete modernization of ginning industry.

Much attention is given to the expansion of mechanized cotton harvesting. Modernized cotton pickers MX-1, 8, whose production is underway in “Tashkent Tractor Plant” OJSC have been presented at the fair. This season around 1,000 pickers with improved characteristics- more reliable in operation, with the fullness of the harvest paddy up to 90 percent and several times cheaper than foreign counterparts - have operated in the fields of the country.

A modern trading infrastructure in Uzbekistan, which includes a network of zonal terminals, providing all kinds of services from storage to shipment of purchased lots has been an important factor in increasing the participation of Uzbekistan in the global cotton market.

A wide range of products of light industry enterprises of the country, including cotton yarn, fabrics, knitted garments and silk products have been demonstrated at a separate pavilion of the UzExpoCenter. The industry is rapidly developing. In the last three years 74 plants have been commissioned and upgraded in the country. Their total production capacity is 131,2 thousand tons of yarn, 14,000 tons of stockinet, 42.8 million knitted wear and 19.8 million pairs of hosiery, 16.4 million square meters of fabric. Tens of thousands of new jobs have been created. In accordance with the program of modernization, technical and technological re-equipment of industry enterprises a number of investment projects for a total amount of 1.7 billion U.S. dollars have been envisaged.

Cooperation with Uzbekistan in this field has many benefits- first and foremost, the ongoing liberalization of the country's economic relations, the availability of high-quality local raw materials, stability of the energy supply, skilled workforce, access to major foreign markets, and the growing domestic market. Government support for investment projects in the sector include tax and customs privileges and preferences, which contributes to attracting foreign investment, including the expansion of the country's production of modern textile equipment with major foreign companies.

IX International Uzbek Cotton and Textile Fair once again confirmed the high efficiency of complex deep reforms, implemented in Uzbekistan at the initiative of President Islam Karimov, aimed at further strengthening the economic potential of the country, the welfare of the people. The fair, held annually, has become one of the key events of world cotton and textile business, and thus creates a solid foundation for the expansion of reliable, long-term cooperation with Uzbekistan.