TASHKENT, Uzbekistan, August 29. Uzbekistan and Bangladesh signed a new agreement in textile development, Trend reports.
According to Uztextileprom, the agreement aims to expand economic cooperation and facilitate mutual investments to create new opportunities for businesses and further strengthen cooperation between the textile industry associations of the two countries.
Within the framework of the agreement, Bangladesh and Uzbekistan will jointly develop cooperation projects for the production of goods. A portion of these products will be sold in Bangladesh, while the rest will be exported to third countries. At the same time, Uzbekistan will explore the possibility of establishing warehouses in Bangladesh to optimize logistics and reduce costs.
Moreover, the rotation of specialists will be conducted to facilitate the exchange of knowledge and experience.
Meanwhile, Uzbekistan manufactured textile products worth 38.5 trillion soums ($3 billion) from January through June 2024. This figure has increased by 15.6 percent year-on-year (33.3 trillion soums, or $2.6 billion in January–June 2023).
The share of manufactured textile products in the structure of the manufacturing industry amounted to 12.5 percent.