Photo: the Agency for the Development of Light Industry of Uzbekistan

BAKU, Azerbaijan, June 11. Uzbekistan is seeking to strengthen financial cooperation and expand export opportunities for its light industry sector following a series of meetings in Europe led by officials from the country’s Agency for the Development of Light Industry.

This was reflected in a statement by the Uzbek Agency for the Development of Light Industry.

The delegation, headed by Agency Director Nozimjon Kholmurodov, held talks in Germany with representatives of major financial institutions as part of a visit scheduled from June 8 to 12.

During a meeting with AKA Bank, discussions focused on the introduction of direct financing mechanisms for Uzbek light industry enterprises, as well as the provision of preferential credit lines for the purchase of modern industrial equipment from European Union countries. The talks included AKA Bank Director for Export Financing Dr. Michael Stopfkuchen and Deputy Chairperson of the bank’s management board Muyassar Kholmakhmadova.

The Uzbek delegation also met with Ekaterina Galitsina, Director for Eastern Europe and Central Asia at KfW IPEX-Bank GmbH, part of Germany’s KfW Group. The parties exchanged views on financing investment projects in Uzbekistan’s textile sector, supporting export activities, and expanding cooperation with European financial institutions.

In a separate meeting, officials held discussions with Ilyas Güçlü, representative of the Uzbekistan Chamber of Commerce in Germany, focusing on establishing links with major importing companies in Frankfurt, promoting Uzbek textile products in the German market, and organizing B2B meetings between Uzbek manufacturers and leading German importers.

Officials said the meetings were aimed at enhancing the global competitiveness of Uzbekistan’s light industry, expanding export destinations, and attracting foreign investment into the sector.