TEHRAN – Iran’s Trade Promotion Organization (TPO) has signed a memorandum of understanding (MOU) with the Islamic Organization for Food Security (IOFS) for economic cooperation in the field of agriculture and food products.

The MOU was signed by TPO Head Alireza Peyman-Pak and a director from IOFS in Nur-Sultan, Kazakhstan, the TPO portal reported on Wednesday.

According to this MOU, the two sides will exchange information on the trade of agricultural and food products through commercial corridors operating under the framework of the Organization of Islamic Cooperation (OIC).

Facilitating the trade of agricultural and food products between Iran and the OIC member countries, ensuring sustainable food security and implementing business and investment plans, and developing multilateral cooperation among the members of the mentioned organization are also among the subjects covered in the MOU.

Also, the two sides emphasized cooperation in holding exhibitions, as well as the use of Islamic financial instruments to support business development.

Based in Nur-Sultan, Kazakhstan, the Islamic Organization for Food Security is a food and agriculture organization and one of the eight specialized institutions of the Organization of Islamic Cooperation focused on the development of agriculture and rural development with a primary focus on widespread scarcity of food and food security of the member states. Its charter is formally signed by the 36 member states out of 57 as of 2022. The associated member states work in collaboration with IOFS.

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Photo: TPO Head Alireza Peyman-Pak (R) and a director from IOFS sign MOU documents