During his visit to Lahore, Uzbek Ambassador Alisher Tukhtayev met with Shahzad Asghar Ali, CEO of Style Textile, one of Pakistan’s largest textile companies, the correspondent of Dunyo news agency reports.
During the talks, the parties discussed the implementation of joint projects in Uzbekistan’s textile industry, as well as the restoration of enterprises that have suspended operations or are operating at low capacity, and the introduction of effective management mechanisms.
The importance of elevating Uzbek-Pakistani cooperation in industrial cooperation, investment, and expanding export potential to a qualitatively new level was emphasized. Particular attention was paid to bringing modern technologies, advanced management experience, and opportunities to enter international markets to Uzbekistan’s textile industry, which, as noted, could become an important stimulus for the development of the country’s light industry.
The ambassador discussed the possibilities of creating new production facilities in Uzbekistan and provided information on 29 textile enterprises whose operations have been suspended or are operating at reduced capacity. The Uzbek side is offering its Pakistani partners the option of purchasing them outright or transferring them into trust management.
Style Textile Executive Director Shahzad Asghar Ali expressed interest in implementing joint projects in Uzbekistan and confirmed his readiness to begin substantive negotiations with a reliable partner.
The parties also exchanged views on organizing a visit by a Style Textile delegation to Uzbekistan to learn about the country’s favorable investment climate and existing opportunities, as well as to develop business strategies for transferring textile enterprises to effective management.
Following the meeting, an agreement was reached to hold a videoconference with the management of the Agency for the Development of Light Industry to discuss the proposals and initiatives considered during the initial stage of negotiations.
Founded in 1992, Style Textile is a large industrial enterprise with a fully vertically integrated production system, from raw materials to finished products. The company employs over 47,000 people at five large production complexes in Lahore.
The company currently produces products for world-famous brands such as Adidas, Nike, Reebok, Levi’s, Zara, GAP, Hurley and Tom Tailor, exporting its products to more than 40 countries.
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