Kazakhstan to be added to a list of OIC food-resource countries

Almaty. July 4. Silkroadnews – Kazakhstan to be added to a list of the food-resource countries of the Organization of Islamic Cooperation (OIC), KazTAG reported with reference to the press service of JSC Holding KazAgro.
According to press-release, on Monday in Astana Chairman of Executive Board of “KazAgro” National management holding Nurlybek Malelov and the director general of the secretariat of the Islamic Organization for Food Security (IOFS) Yerzhan Zhalmukhanov signed a memorandum of understanding speaking for two major directions of the joint work – investments into the agro-industrial complex of Kazakhstan and assistance in the export of products of domestic agricultural producers to the IOFS countries.
“The bilateral document assumes work on the agreed areas of cooperation. Thus, in the part of investments into the agro-industrial complex of Kazakhstan, joint activities are planned related to the financing of export-oriented agricultural projects, attracting foreign direct investment through a tool of private equity funds, developing a methodology for Islamic financing and financial products to finance the projects in the agricultural sector, as well as technology transfer with the subsequent introduction of innovations in the agro-industrial complex field”, the report says.
As for supporting Kazakhstan’s exports, the parties intend to expand trade operations through the JSC “NK “Food contract corporation””, assist in developing a map of the republic’s economic potential, including newly introduced irrigated lands that can be used for production and supply of agricultural products to the OIC member countries
“Besides, IOFS and KazAgro agreed on assistance in adding Kazakhstan to the map of food source countries of the Organization of Islamic Cooperation”, the report says.
In the future the two organizations’ cooperation is expected to provide an export corridor to Kazakhstani food producers to enter the markets of the Persian Gulf, Africa and Central Asia.
The Islamic Organization for Food Security was established on the initiative of the President of Kazakhstan Nursultan Nazarbayev to provide the member states with technical training in effective development of agriculture, food security, development of biotechnology, solution of problems caused by desertification, erosion and salinization of soils. The organization can provide emergency and humanitarian assistance by creating reserves to ensure food security. The organization includes 31 countries.
JSC “National management holding “KazAgro”” operates to realize the state policy on the development of the agro-industrial complex of Kazakhstan through the effective management of the investment assets of the companies included in its structure. The holding company includes JSC National Company Food contract corporation, JSC KzAgroProduct, JSC KazAgroFinz, JSC Agrarian Credit Corporation, JSC Fund for Financial Support of Agriculture, JSC KazAgro Garant and JSC KazAgroMarketing.