Acting Minister of Finance and Chairman of Uztextileprom Association Signs Memorandum of Understanding

At the joint Economic Working Group of the high-level Uzbek delegation to visit to Afghanistan, H.E. Prof.  Mohammad Homayoun Qayumi, Acting Minister of Finance and Chief Advisor on Infrastructure to H.E. the President, and Mr. Ilhom Haydarov, Chairman of the Association of Uztextileprom, signed a memorandum of understanding for cooperation on the optimization of the Afghan cotton, vegetable oil, and textile enterprises.

Based on this memorandum of understanding, seven of the Afghan cotton, vegetable oil, and textile enterprises in Helmand, Balkh, Baghlan, Kandahar and Kapisa provinces will be reconstructed and re optimized in cooperation of Republic of Uzbekistan’s Uztextileprom Association.

With the re-activation of these enterprises, 1500 people will be put directly to work, and over 5000 will indirectly benefit in terms of working opportunities. From 40000 tons of cotton, over 3700 tones of vegetable oil will be produce for local consumption. To produce 40000 tones cotton, 14000 hectors land will be cultivated.

This MoU will be implemented in 14 months from its time signature.