Uzbekistan’s “Kun” website reported on the 8th that the Uzbekistan Textile Industry Association is working with the German Agency for International Cooperation (GIZ) and related companies to study and formulate a textile export strategy to the EU.
Uzbekistan exports textiles to 65 countries every year, with an export value of US$2.1 billion, of which US$74 million is exported to EU member states. After the EU officially granted Uzbekistan Generalized System of Preferences (GSP+) status on April 10 this year, the tariffs imposed on Uzbekistan-related textiles were reduced from 17% to 0, which will greatly promote Uzbekistan’s textile exports. According to expert assessments, Uzbekistan’s textile exports to the EU will increase to US$150 million by the end of this year, and are expected to reach US$1.2 billion by 2025. The interest of investors and retailers in the textile field in the Uzbek market will also increase significantly. By then, Uzbekistan’s textiles will compete with products from Pakistan, Sri Lanka, Mongolia and other countries in the EU market. The textiles from these countries account for more than 80% of the EU market share within the GSP+ system. </p
