Uzbekistan inks cotton contracts worth $1 Billion

TASHKENT: Uzbekistan has signed a number of contracts totaling $1 billion to export 680,000 tons of cotton from its harvest in 2013. 

The contracts were signed in the 9th annual International Uzbek Cotton and Textile Fair held on October 16 and 17 in the capital Tashkent.

According to the Uzbek media sources, the Fair was attended by over 1000 international companies from over 40 countries working in the cotton and textile industry.

Uzbekistan will export around 680,000 tons of cotton to China, Russia and Bangladesh. Over half of this will be sold to companies from China.

A number of European and American companies have boycotted the event due to Uzbekistan’s poor human rights record and forced labour practices.

Last year, 670,000 tons of cotton was exported and deals worth $600 million were signed.