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LONDON COTTON OUTLOOK: INTRODUCTION OF CORPORATE GOVERNANCE PRINCIPLES IN UZBEKISTAN PROVIDE GROWTH OF ECONOMIC EFFICIENCY OF COTTON SECTOR

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LONDON COTTON OUTLOOK: INTRODUCTION OF CORPORATE GOVERNANCE PRINCIPLES IN UZBEKISTAN PROVIDE GROWTH OF ECONOMIC EFFICIENCY OF COTTON SECTOR

The portal of the British organization Cotton Outlook posted an article about participation of Uzbekistan in the 74th plenary session of the International Cotton Advisory Committee (ICAC), held in Mumbai (India).

It should be noted that Cotton Outlook located in Liverpool is the most authoritative in the world specialized organization, providing comprehensive information on developments in the global cotton market and trends in the cotton industry for 80 years. On its website, a daily published an extensive list of proposed prices for the main cultivated varieties of cotton, which are calculated on the basis of codes recognized by the trading community, governments and international organizations such as the United Nations Conference on Trade and Development and ICAC.

In the above material states that recently established in Uzbekistan single holding company "Uzpakhtasanoateksport" based on corporate management practices and combines the activities of receiving and processing raw cotton production and export of cotton fiber, oil, and research in this sector. The main goals and objectives of the new company is to improve the quality of cotton products, improving the technology of primary processing of cotton and cotton seeds, increase the economic efficiency of the sector.

It is noted that in the framework of participation in the forum of the Uzbek delegation was provided with detailed information about the development of the cotton industry, its structural reforms would improve the image and competitiveness of Uzbek cotton in the world market, to expand the volume of its domestic processing on their own textile mills.

As outlined in the article, the implementation of corporate governance principles cotton industry contribute to the growth of economic efficiency of the cotton sector, increase the real incomes of farmers, the cotton and oil-processing enterprises.

Over the years, Cotton Outlook is co-organizer of the International Uzbek Cotton Fair, held in Tashkent on an annual basis at the initiative of the President of Uzbekistan Islam Karimov.

Managing Director of Cotton Outlook Ray Butler, while taking part in the XI International Uzbek Cotton and Textile Fair in Tashkent in October 2015, noted that "Uzbekistan is one of the largest suppliers of cotton fiber on the world market.

Thanks to effective investment policy factor cotton processing at the present stage exceeded 40 percent, which is twice more than five years ago".

Jahon Information Agency, London