International IFPA delegates visits Uzbekistan, signs historical bilateral agreements

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International Islamic Food Processing Association (“IFPA”) delegation during the participation in the 2021 Annual Meetings of the Boards of Governors of the Islamic Development Bank Group (“IsDB Group”) in Tashkent, Uzbekistan held a meeting with the Chairman of the Assembly of Economics of the Republic of Uzbekistan and the Association of Exporters of Uzbekistan Mr. Muhtor Umarov. Assembly of Economics of the Republic of Uzbekistan brings together 25 enterprises of domestic production and created to facilitate profitability of small, medium and large scale enterprises on the local and foreign markets. Association of Exporters of Uzbekistan is the premier trade organization representing Uzbek companies engaged in global trade, the body is recognized as technical experts regarding the day-to-day import and export of goods.

Director General and CEO of IFPA, H.E. Sheikh Bilal Khan remarked: “Kazakhstan, Uzbekistan especially and the entire Central Asian-based OIC markets represent phenomenal geo-strategic importance for other connecting regions by re-establishing the old ‘Silk Road’ trade route in light of the current ongoing developments for peace and stability in the region with far-reaching benefits for all wider OIC markets”.

IFPA delegation represented by the Heads of  Business Development and Marketing Departments including the Head of International Memberships, Ms. Gulsum Kenenbayeva, Head of International Partnerships, Mr. Berik Kaliyev and Head of Administration, Mr. Meirambek Issabekov discussed opportunities for business cooperation between Kazakhstan and Uzbekistan in agri-food trade and investment through the platform of International IFPA to grow partnership to diversify the portfolio of assets suitable for Kazakh and Uzbek markets.

The two parties expressed their strong commitment to developing a collaboration by signing a Memorandum of Understanding (“MoU”) on the promotion of agri-food projects that relate to the use of Islamic finance and investments in the wider market of the Republic of Uzbekistan.