Palm Oil Trade Agreement in Uzbekistan Aims to Expand into Central Asia

Palm Oil Magazine
Doc. Special / Indonesia and Uzbekistan Forge Bilateral Cooperation in Palm Oil Sector

PALMOILMAGAZINE, TASHKENT – Indonesia and Uzbekistan have officially agreed to establish bilateral cooperation in the palm oil sector. This agreement was formalized through a memorandum of understanding (MoU) signed between the Indonesian Palm Oil Association (IPOA) and the Oil and Fat Industry Association of Uzbekistan (Uzyogmoysanoat) on Thursday, September 14, 2023, in Tashkent, Uzbekistan.

Eddy Martono, Chairman of IPOA, emphasized the significance of this cooperation, highlighting Uzbekistan as an ideal business partner for Indonesia in Central Asia. Uzbekistan ranks as Indonesia’s second-largest trading partner in the region, following Kazakhstan.

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Given Uzbekistan’s status as an advanced vegetable oil producer in Central Asia, it possesses substantial potential to become a regional hub for vegetable oil production and management. Furthermore, Uzbekistan’s strategic geographical location in Central Asia positions it as a potential connector with neighboring countries in the region.

Also Read : Sustainable Palm Oil: Green Commitment with Smallholders

Indonesia is the biggest palm oil producer and exporter in the world now. More than 150 countries become palm oil importers from Indonesia, including the contries in Central Asia though they are limited still. One issue to expand (palm oil export) to the region is logistic issue.

Eddy also mentioned, his side is enthusiastic with the signing of the MoU and would introduce sustainability aspects in palm oil industries in Indonesia though Indonesian Sustainable Palm Oil (ISPO) as the condition for every planter. “And would open the chance to export and investment in palm oil industries from Indonesia in the country and other non-traditional countries in the region,” he said, as in the official statement to Palmoilmagazine.com, Thursday, (14/9/2023)

Meanwhile Chairman of Uzyogmoysanoat, Oybek Zuparov also told his will to learn from Indonesia about palm oil industrial development and refinery to be implemented in Uzbekistan. According to Indonesian Embassy in Tashkent, Uzbekistan needs about 60.000 – 70.000 tons of crude palm oil per year.

Also Read : Empowering Independent Smallholders: Exploring Alternative Income Sources

“The MoU is the proof of commitment and assessment from both countries to escalate domestic production through the cooperation in science, technology, best practices in palm oil industries to increase bilateral trade volume between both countries,” Oybek Zuparov said.

The signing of the MoU was witness by the Ambassador of Indonesia in Uzbekistan, HE Surnaryo Kartadinata. It was the right moment that Indonesia participated in the 2023 Asia Grains and Oils. It was the important chance to promote and deliver positive campaigns about palm oil from Indonesia in Central Asia. (T2)

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