The Solvent Extractors’ Association of India (SEA) and the Federation of Oils, Seeds and Fats Associations (FOSFA International) have signed an agreement to enhance co-operation between the two trade organisations.
Signed on 19 November in Mumbai, India, by SEA President Sanjeev Asthana and FOSFA International President Santiago Visca – the Memorandum of Understanding (MoU) aimed to deepen collaboration and enhance trade co-operation, the organisations said in a joint statement on the same date.
The partnership would combine SEA’s presence across India’s vegetable oil sector and FOSFA’s knowledge of trade standards, arbitration and industry governance, the statement said.
“This association creates a structured framework for deeper cooperation between the two organisations, which intends to focus not only on strengthening bilateral trade but also facilitating the exchange of market intelligence and promoting global best practices,” the statement said.
“It will also advance training and capacity-building efforts through specialised education and skill development programmes, while encouraging joint research and development to address industry challenges and tap emerging opportunities across the oils, oilseeds and fats sector.”
The associations said a Joint Working Group (JWG) would also be established, comprising representatives from both organisations, who would meet twice a year to identify priorities, monitor progress and further strengthen collaboration.
The SEA represents the vegetable oil and oilseed value chain in India - including refiners, crushers, importers, exporters and service providers - and has more than 700 members.
FOSFA provides standard contracts, arbitration and support services for its more than 1,200 members to uphold industry standards across the world and keep the shipping and transportation of commodities simple and reliable.
