TASHKENT, Uzbekistan, December 7. Uzbekistan’s Uzsanoatexport JSC and Bangladesh–based Priority Yarn and Cotton Solutions LLC have signed an agreement for a total amount of $20 million, Trend reports.
As per data by Uzsanoatexport, the signed document presupposes the purchase of 7 million kilograms of Uzbek-made cotton yarn by Bangladesh from 2023 through 2024.
Following the signing ceremony, Acting Chairman of Uzsanoatexport Bakhtiyor Namazov noted that the company is actively developing new marketing strategies to support and strengthen the growing production of yarn and value-added textiles in Uzbekistan.
“For our Uzbek manufacturers, we consider Bangladesh as a highly profitable and promising market where world-class products are manufactured," he said.
Uzbekistan stands as one of the world’s largest producers of natural textile fibers, cotton yarn, and knitwear. The country exported 21,800 tons of knitted products worth $102.9 million from January through April 2023.
As per data by Uzbekistan’s Statistics Agency, cotton yields in Uzbekistan amounted to 678,900 in 2022, with a decrease of 31,700 tons compared to 2021 (710,600 tons).
