On December 25th, IOFS officials held discussions with representatives of JSC "National company" KAZAKH INVEST on signage of Memorandum of Understanding. Within the framework of the Memorandum, further development of bilateral relationship is planned in the following areas:
- assistance in development of the international Islamic Food Processing Association (IFPA), mainly in investment attraction. IFPA would become a transcontinental association of investors and entrepreneurs, consisting of large agricultural producers and trade unions of IOFS member countries, which could strengthen international trade and economic cooperation, and solve common agricultural-technological issues;
- conducting joint events (working group meetings, seminars and conferences) aimed at the institutional development of IFPA;
- support of training and experience exchange of national experts in scientific, technical and agricultural fields on investment issues, including Gene Bank;
- support of domestic agricultural sector and food industry through attraction of investments from OIC countries;
- promotion of Halal food standards and export brand;
- possibility of attracting investments in joint projects with the IOFS / OIC countries, including Strategic Commodities and Grain Fund.
For reference: JSC "National company" KAZAKH INVEST was created in accordance with the decree of the Government of the Republic of Kazakhstan in order to promote sustainable socio-economic development of the Republic of Kazakhstan by attracting foreign investment in priority sectors of the economy and comprehensive support of investment projects.
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