All Pakistan Textile Mills Association (APTMA) leader Gohar Ijaz on Saturday signed a memorandum of understanding (MoU) with the Governor of Bukhara in Uzbekistan on building a textile complex, reported 24NewsHD TV channel.

The proposed complex spreading over 30,000 hectares of land will have a vast space reserved for the cultivation of the cotton crop.

The complex will also house spinning, weaving, processing and garments units to be built at the cost of $100 million.

Thanking Allah (The Almighty) for inking of the MoU, APTMA leader Gohar Ijaz said he was glad that Pakistan was on a right track now.

He informed that on average the country exported textile products worth $15.5 billion from one million tonnes of cotton it produced annually, while Uzbekistan, on the other hand, exported textile products worth $2 billion from the same quantity of the crop.

Ijaz expressed the hope that cotton exports would reach $18 billion by next year.