Tashkent, Uzbekistan (UzDaily.com) -- Currently, the delegation of the Uztekstilprom Association is in Korea, where it held fruitful meetings with Korean partners to expand cooperation. The potential for the development of the textile industry of New Uzbekistan was presented to Korean investors and business circles.

Based on the results of participation in the Uzbek-Korean business forum and B2B, as well as a number of meetings with Korean companies, the following results were achieved.

With the Youngone Corporation, the parties raised the issue of optimizing overtime hours for employees in production, with a positive decision, the Korean side is ready to invest US$50 million in a project for the production of sewing and knitwear products in Tashkent region.

Also, the issue of launching a fabric dyeing plant in Samarkand and organizing a large textile warehouse in Uzbekistan for the sale of polyester and spandex was considered.

The Uzbek delegation discussed with POSCO International the issue of regulating duties on yarn exports and the possible implementation of a joint project for the production of synthetic fabrics.

During negotiations with SL Global, a major manufacturer of home textiles, the foreign parties discussed the issue of relocation of the production of bed linen to Uzbekistan.

As part of the cooperation between Uztekstilprom, KOFOTI and KTTA, a joint work plan will be developed to deepen bilateral cooperation with members of associations.