Delegation of Uzbekyengilsanoat holds negotiations in the Republic of Korea
22/11/2017 18:21
Delegation of Uzbekyengilsanoat holds negotiations in the Republic of Korea
22/11/2017 18:21
Tashkent, Uzbekistan (UzDaily.com) -- A delegation of Uzbekyengilsanoat (Uzbek Light Industry) held a number of meetings and negotiations with management of Korean companies on 16-18 November.
At the meetings with the leaders of major Korean trading companies Posco Daewoo, Color Paradise, Solsang International Corp, RATEL E&T co, Ltd, Korea Factory, as well as Lotte Mart sales networks, agreements were reached (concluded contracts and protocols of intentions) for the export in 2017-2018 of textile products from Uzbekistan for US$70 million.
The Korean customers were pleased with textile products of UzTex Group, Osborn Textile, as well as knitted and denim products of Bofanda and Bonito.
At the meetings with the leadership of the Korean International Trade Association “KITA” and the national electronic trading platform “KTNET”, agreements were reached on joint promotion activities through Uzbek textile products in the Republic of Korea through the electronic trading platform "KOREA Trade", providing services through offices of Uzbek companies in Korea or Korean importers and transport companies for customs clearance in online mode.
A meeting was held with the leadership of Youngone Corporation, the largest manufacturer of branded products with a turnover of about US$2 billion a year, with production facilities in Bangladesh, Vietnam, China, San Salvador.
During the meeting, an agreement was reached on implementation of the project on creation of dyeing and sewing production in Buka district of Tashkent region and sewing facility with a design and training center in the city of Samarkand, as well as realization implementation of a social project to support the activities of the El Mérosi cultural center in Samarkand. The total amount of direct investment attracted by Youngone Corporation will exceed US$20 million.
Successful negotiations also took place with the executives of Daewon Co / Cantavil (the largest Korean producer of woolen and semi-woolen fabrics, with manufacturing facilities in Korea and Vietnam) and Samwon Ind. Co., Ltd. The sides considered issues of signing of mutually beneficial agreements on organization on stage-by-stage basis in Uzbekistan of manufacture of shirts and other fabrics, school uniforms, as well as production of dyes and chemicals for the textile industry.
At the request of the Uzbek side, the leadership of the Daewon organized an exhibition of samples of the school uniform of their own brand IVYclub.
During the visit of Uzbekyengilsanoat to the Republic of Korea, seven agreements on the implementation of joint investment projects for a total sum of over US$30 million were signed or planned for signing.
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