Kazakhstan’s Initiatives on Creating Grain Fund and Islamic Food Industry Association

The General Assembly of the Islamic Organization for Food Security has supported the initiatives introduced by Kazakhstan to create a Grain Fund as well as the Islamic Food Industry Association.

The Kazakh Foreign Ministry has summed the results of the General Assembly of the IOFS.

The session was held from August 27th to 29th in Jeddah with participation of delegations from 24 member countries of the organization.

Saudi Arabia has chaired the session, while Tajikistan and Gambia played the role of vice-chairmen and Kazakhstan as rapporteur.

During the meeting, discussions were made on the budget, a five-year action plan and the adoption of a three-year investment program in the agricultural sector.

“We plan to create a Grain Fund. A meeting of working groups with participation of national and private agriculture associations is planned. We are going to create an agricultural investment fund for the development of the market of Muslim countries. We want to have a center for transport and logistics as well as science and technologies. We also have a plan to create online stock exchange,” said Director General of Secretary of Islamic Organization for Food Security, Yerlan Baidaulet.

The Islamic Organization for Food Security has prioritized industrial security which implies the exchange of experience in agriculture, introduction of advanced technologies, attraction of investments and other current goals.

To date, the IOFS has 34 member states.

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