(MENAFN - Arab News) Sharustam Shamusarov, professor of Russian language and translation at King Saud University, has invited Saudi investors to participate in the upcoming International Uzbek and Textile Fair to be held on Oct. 17-18 this year in his country.
In a statement, Shamusarov underscored the importance of the Saudi market and and said it would be of great interest of both countries to open more windows. He said the Riyadh Chamber of Commerce and Industries had already confirmed its participation.
Last year the 7th fair recorded deals involving 600,000 tones of cotton fiber and contracts worth 550 million.
As one of the world's largest producers and exporters of cotton, Uzbekistan organized and successfully conducted in 2005 the first fair at the initiative of President Islam Karimov with a view to expand and diversify Uzbek cotton's export destinations, to increase efficiency and optimize shipment of Uzbek cotton to the world market.
The fair stimulated further development of market mechanisms in cotton trading, improving business relations between Uzbek producers and its customers. Taking into account the results of this event as well as high appreciation from international participants, it was decided to conduct the fair on a regular basis.
According to Shamusarov international companies participating in the fair this year include those from the United States, China, Russia, European Union, Japan, India, Bangladesh, Republic of Korea, states of CIS, the Middle East, Asia-Pacific region and Africa.
The expo advisory committee on cotton outlook will actively participate at the event, the organizers said. At the fair, the participants will get a chance to sign direct contracts on supply of Uzbek cotton.
Meetings with trade partners and visits to farms ad large terminals of Uzbekistan will be organized as part of the fair. The participants will be also presented hundreds of samples of cotton fiber from various regions of Uzbekistan.
Guests of the fair will have an opportunity to participate in cotton trading sessions on Uzbek commodity exchange. Within the framework of the fair it is planed to discuss current problems and prospects for the world cotton market development as well as to learn competent views of leading international experts on topics such as:
World cotton and textile market: demand and supply, prices and factors; current state and prospects of production and marketing of cotton in Uzbekistan; new technologies to increase cotton competitiveness; world market of cotton textile: present and future; investment climate and foreign investors in cotton and textile industry of Uzbekistan.