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General

Official: Iran, foreign companies form joint venture in textile

Tehran, July 24, IRNA -- Deputy Minister of Cooperative, Labor and Social Welfare for entrepreneurship development and employment Issa Mansouri said here on Monday that companies from Turkey, Italy and Canada have come to Iran to sign contract in the field of textile production.

Domestic infrastructures to produce textile and cooperate with known brands of Turkey and other European countries, as well as Canada has been prepared.

Mansouri added that contract volume with Turkey's known brands is 80 million dollars, and said that one of Turkey's big brands has employed around 190,000 manpower.

One of employment plans of the ministry called Takapu (endeavor) is to promote small companies by creating synergy with bigger units.

This plan underlined on small- and medium-size companies.

Textile industry is among works with high range of occupation in all world countries and its turn-over is around 400 billion dollars annually.

Weaving and textile industries have allocated 3.6 and 2.3 percent, respectively, of total world trade.

In recent past 10 years from 2004 to 2014 textile trade in international level had more than 167 percent growth and from 249 billion dollars in year 2004 reached to more than 400 billion dollars in year 2014.

The most important countries in the field of producing and exporting textile worldwide are China by 34.5 percent share, Bangladesh by 6.6, Vietnam by 5.4 percent and Turkey by 2.6 percent.

Source: Islamic Republic News Agency