Tashkent, Uzbekistan – The Indonesian Palm Oil Association (GAPKI) and Assotsiasiya “Uzyog’moysanoat” , the Uzbekistan Association of Vegetable Oils and Fats, signed a memorandum of understanding (MoU) to establish a cooperation on exchange of expertise in the production and processing of vegetable oils on Thursday, 14 September 2023, in Tashkent, Uzbekistan.
GAPKI Chairman Eddy Martono and Uzbekistan’s Assotsiya “Uzyog’moysanoat” Chairman Oybek Zuparov signed the MoU during a signing ceremony which was also attended by Indonesia’s Ambassador to Uzbekistan, Sunaryo Kartadinata in Tashkent, Uzbekistan.
Indonesia is the world’s largest producer and exporter of palm oil, producing around 50 million tons per year, of which around 20 million tons are consumed locally and around 30 million tons are exported, mostly to China, India and countries in Europe. Palm oil has been used in various products, ranging from foods (such as cooking oil and margarine) to oleochemical (soaps, hand sanitizers and shampoo), and biodiesel.
Besides the biggest contributor of foreign exchange for Indonesia, the palm oil sector also employs more than 16 million people in the country. Currently, Indonesia exports palm oil products to more than 150 countries, including those in Central Asia, where the palm oil is used for various industries and products. Indonesia has implemented the sustainability principles through the certification of Indonesian Sustainable Palm Oil (ISPO), which has been ruled by the Indonesian government as a requirement for the palm oil industry players.
As one of main producers and consumers of vegetable oils in Central Asia, Uzbekistan is potential to become a regional hub of palm oil production and processing. Through the MoU, Uzbekistan is expected to increase its local production by utilizing knowledge, technology and Indonesia’s best practices on palm oil processing. It is also expected to increase the bilateral trade volume of the two countries. (*)
Souerce: KBRI Tashkent