Russia and Uzbekistan Sign Memorandum on Light Industry Development

09:38 GMT, 28 April 2023

A memorandum of intent on elaboration of integrated commodity cooperation was signed between Russia and Uzbekistan at the Innoprom: Central Asia exhibition, held in Tashkent from April 24 to 26, the Russian Export Center (part of VEB.ru) said.

Sputnik

It envisages that the two sides will jointly develop light industry in the two countries for their mutual benefit.

"This memorandum is the result of joint work of all signatories - this is the Ministry of Industry and Trade of Russia, the Ministry of Investment, Industry and Trade of the Republic of Uzbekistan, Association 'Uztekstilprom' as well as the Russian Export Center," said Veronika Nikishina, director general of REC.

According to her, this work was launched at a business mission of women exporters in light industry.

"It was held in Uzbekistan in March this year. We see a great desire of both Russian and Uzbek companies to cooperate for the benefit of the two countries. And the signed memorandum defines its main vectors. The main goal is to establish an effective balance of raw materials, as well as to increase the efficiency of cooperation between Russia and Uzbekistan, which is an important element of our countries' competitiveness in the world market," the REC said.

In particular, the memorandum provides for the development of special mechanisms of financial support for pilot production and the establishment of effective cooperation in the production of yarn and fabric. Within the document signed, Russia and Uzbekistan will also exchange information on supplies of priority raw materials, which will help define the parameters of inter-country raw material balance and estimate the volume of the market.

It is also planned to establish a scientific and technical council to develop a comprehensive "Cotton flax" program, define a list of enterprises where pilot production of blended products will be organized and work out basic parameters, and develop and promote a quality standard for products using bast crops.