International Islamic Food Processing Association (“IFPA”) and Food Industry Association of the Republic of Uzbekistan (“Association”) signed an honorary membership agreement.
During the virtual meeting, the parties discussed the benefits of future cooperation. Honorary membership will offer the Association the opportunity to have access to all privileges and benefits of IFPA and the eligibility to receive IFPA’s targeted services in attracting Islamic investments and financing.
The Association registered by the Ministry of Justice of Uzbekistan on October 29, 2020, was established with the major goal to protect the rights and interests of Uzbek food enterprises; widely represent domestic products on the foreign market; promotion, protection, and enhancement of entrepreneurship and it brings together about 70 different enterprises. The Chairman of the Association, Mr. Bahodir Umirshayxov noted that: “the partnership with IFPA is important for us, as we are aiming at strengthening agricultural supply chains, increasing food safety, developing agri-insurance, and improving access to finance and investments for farmers and entrepreneurs that will help us become more efficient and expand our capacity to supply consumers with high-quality agri-food products.”
Meanwhile the Director General and CEO of IFPA, H.E. Sheikh Bilal Khan remarked that: “IFPA is very pleased to welcome the Association as one of its key honorary members in Uzbekistan which belongs to a fast growing region within the OIC network of IFPA and through our effective coordination and collaboration, we will help increase the contribution in attracting foreign direct investments and Islamic financing into the Uzbek market to boost new trade corridors and the potential of the agri-food sector for exports into both the CIS region and the wider OIC markets with special focus on Islamic investments in infrastructure, logistics and technology enablers.”