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The Islamic Corporation for the Development of the Private Sector Signs MoU with Emirates Future on Food Security
The Islamic Corporation for the Development of the Private Sector Signs MoU with Emirates Future on Food Security, Halal Food Industry
Sunday, 13 April 2014
Abu Dhabi, 9.04.2014 - Under the patronage of His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs in the United Arab Emirates, a Memorandum of Understanding (MoU) has been signed between the Islamic Corporation for the Development of the private sector (ICD), the private sector arm of the Islamic Development Bank (IDB) Group, and the Emirates Future (EF), one of the largest UAE-based players in the livestock trading industry, spread over 20 countries and involved in specialized livestock transportation business, livestock slaughtering, manufacturing of meat products, and processing livestock by-products.
The MoU aims to promote economic development and encourage the flow of investments between member countries through creation, expansion and modernization of institutions and private sector companies.
Another objective of the MoU is to establish strategic partnership and strengthen the system of food security in the Islamic World by developing the halal food industry in terms of improving quality and reliability using the latest food technology, agricultural research and certification systems.
According to the MoU, ICD will examine the possibility of establishing an investment partnership with EF to create and manage hubs of manufacturing, packaging, certification and distribution of halal food around the world as well as studying the possibility of establishing an international company to manufacture and distribute Halal gelatin.
On the occasion of the MoU, Mr. Khaled Al-Aboodi, Chief Executive Officer of ICD, commented: "This MoU will further stimulate cooperation between ICD and EF towards creating a better environment for the spread of the halal food industry in the world”.
Mr. Humaid Al Neyadi, Chairman of the Emirates Future Group, said “coordination between the private sector and international development institutions such as the ICD has an important role in achieving food security in the Islamic World and boosting the Halal Food Industry.
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