IFC Promotes Food Safety Standards to Help Azerbaijani Companies Meet Export Requirements and Increase Sales

IFC, a member of the World Bank Group, and Azerbaijan’s National Confederation of Entrepreneurs are working to raise awareness about the benefits of modern food safety systems, encouraging food producers to improve food safety standards to help meet export market requirements, increase sales, and attract investment.

Today IFC and the Confederation of Entrepreneurs hosted a round table on food safety issues in Baku, bringing together leading food producers, consultants, and representatives of the government, retail chains, and agribusiness associations. The event emphasizes the importance of food safety standards to help agribusiness firms meet regional and export market requirements and provide a foundation for agribusiness industry to realize its full potential.  

“Agriculture has great potential to drive economic diversification beyond the energy sector,” said Mammad Musayev, President of the National Confederation of Entrepreneurs (Employers) Organizations of Azerbaijan Republic. “Improved food safety standards will help companies strengthen their position on local and export markets and create opportunities for growth in the sector.”

Aliya Azimova, IFC Country Representative in Azerbaijan, said: “These types of events are very important in terms of sharing the knowledge. I hope more companies will start introducing international food safety standards, which will help local food businesses become more competitive and ultimately benefit consumers.”  

The event was part of IFC’s Agribusiness Standards Advisory Program in Europe and Central Asia, supported with funds from the Austrian Federal Ministry of Finance.

Azerbaijan became an IFC member in 1995. Since then, IFC has invested more than $414 million in the country and mobilized $73 million from other lenders. IFC has also implemented advisory projects focused on private sector development.

About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in about 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and boost shared prosperity. In FY14, we provided more than $22 billion in financing to improve lives in developing countries and tackle the most urgent challenges of development. For more information, visit www.ifc.org.  

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For more information about the Federal Ministry of Finance, Austria, please visit: http://english.bmf.gv.at.