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The Solvent Extractors Association of India (SEA) on Tuesday signed an agreement with the Chamber of Vegetable Oil Processors (CIARA) of Argentina and Association of Grain Exporters (CEC) to promote vegetable oil production, trade and consumption.
The Memorandum of Understanding (MoU) signed between the industries bodies will facilitate engagement and enhance the trade in vegetable oil and work towards reducing trade barriers.
The two sides also explored the opportunities for developing close co-operation for exporting soya oil and sunflower oil into India.
There will be joint agreements with governments, industry bodies and other relevant stakeholders to reduce trade barriers in vegetable oils and related products between the two countries.
The agreement, signed in the presence of Mauricio Macri, President of Argentina and Luis Miguel Etchevehere, Minister of Agriculture, Argentina, also calls for exchange of edible oil and fat-related business, technical and administrative information that are beneficial to both the countries and members of the association.
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