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IOFS and National Company 'Food Contract Corporation' agreed to cooperate
Date 2020-07-01 18:25:00
IOFS and National Company 'Food Contract Corporation' agreed to cooperate

Today, on July 1, representatives of IOFS led by Director-General Mr Yerlan Baidaulet held a meeting with the Chairman of Board of the National Company 'Food Contract Corporation' JSC Mr Kanat Karaulov.

Both sides reviewed efforts given this unfavorable state of affairs, caused by this socio-economic emergency, there is a need for concerted efforts among state, international and corporate stakeholders within the Central Asian region to address the debilitating effects of COVID19 pandemic, especially in the area of food security. This is owing to the negative effects of a substantial break in the food supply chain, trade, food shortages and food price spikes were discussed within the 'ADDRESSING FOOD SECURITY CRISIS IN THE WAKE OF COVID-19 PANDEMIC' Memorandum issued by IOFS on April 6, 2020.

The parties focused on the participation of National Company 'Food Contract Corporation' in the establishment of the Regional Food Reserves, the Grain Fund and their funding sources. Furthermore, the meeting participants raised issues of providing humanitarian food aid to less-developed countries of IOFS. It is necessary to note that the Regional Food Reserves/Grain Fund would monitor the volume of food production and prices of essential food products; collect, process and analyze data to ensure sufficient food supply in the region.

The sides agreed to collaborate within the framework of the implementation of IOFS core programs, such as the Regional Food Reserves/Grain Fund, IFPA, Strategic commodities, Gene Bank and Regional Center of Excellence to achieve their common goals of stabilizing prices and increasing food production, promoting solidarity within the OIC states, providing appropriate responses to emergencies and assisting socio-economic development in the region.