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One of the major textile manufacturers of Turkey, Norm Ltd., plans to create a joint brand production factory in one of the regions in Uzbekistan
The Uzbek and Turkish sides have already held the first round of talks in late last December in Tashkent. Norm Ltd. primarily aims at organizing the production of textiles using cutting-edge technology and high-quality cotton fiber.
Jelal Ogutgulleri of the Turkish company, speaking during the meeting with the management of Uztekstilsanoat, pointed out the favorable environment created in Uzbekistan for foreign investors, including relatively low costs for electricity and skilled labor, availability of raw materials.
Norm Ltd. intends to use its unique technologies to set up production capacities in Uzbekistan. The new joint venture is to allow the Turkish side to diversify exports and consolidate itself in the markets of neighboring countries, including Russia, China, Kazakhstan, Kyrgyzstan, Turkmenistan and Afghanistan.
“Following the talks, the parties agreed that in January 2018 a working group of the Turkish company will visit Uzbekistan to study the project in detail and discuss specific areas of cooperation,” Uztekstilsanoat said in a statement.
Worth reminding that last year the enterprises of the Uzbek light industry exported products for more than $ 1.1 billion. The goods of national textile plants were supplied to 50 countries around the world, and the share of products with higher added value exceeded 40%.
(Source: «Uzbekistan Today» newspaper)