The Ministry of Investment and Foreign Trade of the Republic of Uzbekistan held a meeting with representatives of the Social Stability Directorate of the Spanish company INDITEX.
For reference: INDITEX, which manages assets with a combined value of about $20 billion, includes the world’s most famous textile brands, including ZARA, Bershka, Massimo Dutti, Pull & Bear and other brands.
During the meeting, the parties discussed the reforms implemented in recent years in Uzbekistan in the field of textile industry, including the introduction of a new “cluster” approach to cotton cultivation and processing, elimination of child and forced labor in the collection and cultivation of cotton, systemic state support for enterprises of the industry producing eco-friendly clothing, Uzbekistan receiving the status of a beneficiary country of the EU General System of Preferences “GSP +,” as well as the lifting of the global boycott of Uzbek cotton by the Cotton Campaign International Coalition. Also, effective measures to support business in the country, opportunities for entrepreneurial growth and prospects for increasing the company’s investment portfolio in Uzbekistan are comprehensively considered.
During the meeting, INDITEX representatives were informed about the opportunities to increase the involvement of Uzbek textile producers in global production and supply chains, the potential of textile companies operating in Uzbekistan and cotton and textile clusters, measures being implemented to improve the working conditions of industry workers, reduce the impact of production processes on the environment and consumers.
The meeting participants discussed in detail the prospects for establishing the company’s activities in Uzbekistan, including the implementation of joint projects. Further steps are planned to study the industrial potential of the textile industry, assess the market capacity and work out other aspects of practical cooperation.