islamic finance

Agriculture Ministry inks MoU with Islamic Organisation for Food Security

June 24, 2022

TAP)-The Ministry of Agriculture, Water Resources and Fisheries, on Thursday, signed a memorandum of understanding with the Islamic Organisation of Food Security (OISA), to strengthen food security, said the ministry.

This memorandum was inked on the margins of the organisation's first meeting to promote olive oil in the member countries, held on June 23-24 in Tunis.

The meeting, chaired by Minister Mahmoud Elyes Hamza and Director General of the OISA Yerlan A. Baidaulet, is part of the activities of this budding organisation, aiming to expand trade in agricultural products among Islamic countries.

The development of the olive sector in Islamic countries in the period 2015-2020, in parallel with the increase in domestic demand for olive oil in some countries such as Egypt, Algeria and Turkey, requires the implementation of a strategy and an action programme, Hamza argued.

This strategy should aim at inreasing trade between Islamic producing- and exporting-countries, as well as olive oil consumers. The Organisation of Islamic Cooperation insists on promoting the olive oil sector, in cooperation with the International Oil Council.

Tunisia is working to reduce the fluctuation of production and to encourage partnership in order to join efforts and improve the negotiation capacity.

We hope to enhance the positioning of Tunisian olive oil on the international market, to encourage innovation and to increase the added value.

Hamza pointed out that his department is currently working to further coordinate with the different parties concerned either within the country or among olive oil producing and consuming countries.

Baidaulet, for his part, said the meeting represents a space for experts from olive oil producing, exporting and consuming countries to exchange experiences, unify their activities and expedite the conquest of new markets within the OIC.

He called for stepping up the sharing of expertise between Islamic countries, particularly in the field of production methods, processing and marketing of olive oil through improving production and productivity and enhancing quality.

The Kazakhstan-based OISA was created in 2013 at the initiative of Former President of Kazakhstan Nursultan Nazarbayev.

It now has 36 member states, out of the 57 that make up the OIC.

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