PJSC Sberbank : Sber, Uztekstilprom Association, Strategy Partners sign cooperation agreement

Sberbank, Uztekstilprom Association, and Strategy Partners have signed a trilateral cooperation agreement to develop their long-term business ties and competitiveness of the textile industries of Russia and Uzbekistan, with the signing ceremony attended by Deputy Chairman of the Sberbank Executive Board Anatoly Popov, Uztekstilprom Chair Ilkhom Khaidarov, Strategy Partners Managing Partner Valeria Plotnikova, and people from the Embassy of the Republic of Uzbekistan.

The parties are set to identify financing mechanisms, develop the structure of investment projects, and co-create production sites and supply schemes for raw materials and finished products, while also identifying the top priority fields for their cooperation, agreeing upon their joint investment projects, and designing other possible mechanisms for financing the textile industry of the two countries.

Anatoly Popov, deputy chairman of the Executive Board, Sberbank:

"I am certain that the partnership in the supplies of raw materials and finished products, the integration of facilities, the design of joint projects, the development of the digital transformation, and the adoption of sustainability principles will bring the textile industries of our nations to the next level quality-wise. The economic cooperation between Russian and Uzbek companies will receive a new impetus through the promotion of digital solutions and financial instruments in the production chain."

Ilkhom Khaidarov, chairman, Uztekstilprom Association:

"Without doubt, our agreement stipulating the use of Sber's most advanced financial instruments is a significant step in expanding cooperation between the textile industries of Uzbekistan and Russia. The synergy of the successful experiences in digital transformation of Russian partners and the achievements of Uzbek manufacturers in the field of transparent and environmentally-friendly production will dramatically increase the attractiveness of the entire range of textile, clothing and knitwear products across consumer markets."

Valeria Plotnikova, managing partner, Strategy Partners:

"The agreement we have signed today is a vital step in establishing long-term partnerships and developing effective and mutually beneficial cooperation between Russia and Uzbekistan. We are pleased to be able to scale up our experience and successes in consulting stakeholders to improve the competitiveness and development of companies and industries, design strategies, facilitate the digital transformation and implement ESG initiatives for textile enterprises in both countries."