JEDDAH – Saudi entrepreneurs and investors have been asked to attend the forthcoming eighth International Uzbek Cotton and Textile Fair scheduled to be held in Tashkent, Uzbekistan on Oct.17-18. The invitation has been facilitated by professor of Russian language and translation at King Saud University, Sharustam Shamusarov. Highlighting the significance of the Saudi market in a statement, Shamusarov said exploring new dimensions would prove mutually beneficial for both the countries. At the seventh edition of the fair last year, deals were signed for around 600,000 tons of cotton. In addition, future contracts of $550 million were booked. Shamusarov said several global firms from the US, EU, Russia, India, Japan, China, Bangladesh, states of CIS, the Middle East, South Korea, Africa and Asia-Pacific region have confirmed their participation in this year's fair. The Riyadh Chamber of Commerce and Industries is also participating in the fair, he added. According to the organizers, the fair would involve active participation of the Expo Advisory Committee on Cotton Outlook, and would provide the participants an opportunity to interact with traders from other countries and bag direct supply contracts for Uzbek cotton. During the fair, visits would also be arranged to Uzbek farms and big terminals. Moreover, the participants would also be handed over several samples of different varieties of Uzbek cotton. People visiting the fair would be afforded a chance to participate in cotton trading sessions on Uzbek Commodity Exchange. Several issues concerning cotton and prospects for development of global cotton market would also be discussed during the fair. Besides, efforts would also be made to gather views of competent global experts on matters like global cotton and textile market: price and factors, demand and supply; existing scenario and future of production and marketing of cotton in Uzbekistan; present and future of global cotton and textile market; new techniques to enhance competitiveness of cotton; and investment conditions and overseas investment in Uzbek cotton and textile industry. – SG/Agencies
