Dubai Cotton Centre to attend the International Uzbek Cotton Fair 2010
Dubai, UAE; October 11, 2010: The Dubai Cotton Centre (â€˜DCCâ€™), the cotton trade facilitation arm and a fully owned subsidiary of the Dubai Multi Commodities Centre, is pleased to announce its participation in the 6th International Uzbek Cotton Fair, to be held in Tashkent, Republic of Uzbekistan, on October 13 & 14, 2010.Â DCC has been facilitating the export of Uzbek Cotton since 2008, since signing a framework agreement with Uzprommashimpeks, a major local exporter. Uzbekistan is currently the worldâ€™s third largest exporter of cotton, with exports projected to total 3.2 million bales in 2009-2010. Uzbekistanâ€™s local logistics system comprises 23 specialised cotton terminals with storage capacity of 400,000 metric tons, with good transportation infrastructure and shipment corridors.
The DCC was established to facilitate trade between Uzbekistan and the international trading community, small and medium indenters and end users. It enables financing, accessibility and daily spot cotton prices for consumers. Furthermore, the DCC facilitates trade finance for cotton inventory and provides inspection facilities throughout the trade cycle.
Malcolm Wall Morris, Chief Executive Officer of the DMCC, said:
â€œWe anticipate an increase in global trade and exports, allowing the DCC to consolidate Dubaiâ€™s position as a key link in the global cotton supply chain between Central Asia and the cotton consuming economies in the wider Asian market. Improving market access and providing tailor made solutions to this industry unleashes the greater potential of the Uzbek cotton trade. We look forward to working alongside the Uzbekistan Ministry of Foreign Economic Relations in the years to come.â€
The two day event will include the Cotton Trade Fair, roundtable discussions as well as presentations on various issues, including world cotton and textile markets and Uzbekistanâ€™s cotton production and marketing sectors. The DCC will be represented by Krishnan Ramamurthi, Director of Dubai Cotton Centre, who will be giving a key note speech at the conference.