Uzbekistan, Tashkent, Oct. 18 / Trend D. Azizov /
Uzbekistan will reduce 2012/2013 exports of cotton fiber to 600,000 tons compared to 620,000 tons in 2011/2012 due to an increase in domestic processing volumes, the Uzbek Ministry of Foreign Economic Relations, Investment and Trade said today.
According to the ministry, the decline in exports will result from the creation of new domestic industries and increasing the internal cotton fiber processing capacity by 50,000 tons up to 450,000 tons by late 2012.
Presently, there are more than 2,200 light industries, including more than 280 companies with cotton fiber refining capacities over 400,000.
Around 17 enterprises, with foreign investments totaling $ 100 million, were established in Uzbekistan in 2012. The total amount of foreign investments in the Uzbek cotton and textile industry amounts to $2 billion since 2000.
According to Cotton Outlook, the 2012/2013 cotton production in Uzbekistan will increase to 1.1 million tons, up 2 percent over the previous season.
Around 3.5 million tons of raw cotton are grown annually in Uzbekistan.
