On October 21st, 2020 IHK Duesseldorf has conducted a webinar on cooperation perspectives for the Uzbek textile -and clothing sector. As part of the event, GET-advisor Woldemar Walter delivered an input presentation on the most recent developments of the Uzbek economy.
Hereby, a special emphasis was placed on the impact of the Covid-19-Pandemic, as well as the importance of the textile sector for the national economy. Despite the negative short-term impact of the pandemic, the Uzbek economy is expected to grow modestly this year. This is partly a result of the importance of the large agricultural sector, which does not suffer in the same way as other areas of the economy from the woes of the pandemic. In the long run, the Uzbek economy has a significant growth potential. Hereby, the textile sector contributes to a larger extent. At the moment, main export countries for textile products are the CIS-countries, as well as China. However, the Uzbek textile industry has also great export potential to the European Union, in particular with the imminent GSP(+) status for Uzbekistan. All participants agreed that in particular the cotton farming sector has the potential to become a “game changer” for the industry. At the moment, Uzbek companies make significant progress in complying with environmental standards.