The Solvent Extractors' Association of India last week signed a tripartite agreement with the Canadian Oilseed Processors Association and the National Oilseed Processors Association.
A SEA delegation, during its two-month visit to the United States and Canada which ended on August 9, also signed a memorandum of understanding with the American Soybean Association.
The visit by SEA was followed by the tour of a delegation led by Maharashtra chief minister Sushilkumar Shinde in July to the US.
A government official attached to the delegation said that the two agreements were important in respect of furthering the business interests of the Indian vegetable oil industry and trade, and would help maintain growth in the industry even after the World Trade Organisation regulations become effective in 2005.
The visit of the six-member delegation of SEA to the US and Canada was following the invitation of the ASA and COPA. Bipin V Patel was the leader of the delegation.
The aim of the visit was to enhance mutual co-operation and exchange of informations among the US and Canadian oil producers, oil and oilseed exporters and Indian importers, refiners and processors.
It also sought to study the entire soya complex in the US and the Canola Seed Complex in Canada.
The visit allowed the Indian delegation to assess the demand-supply situation and price behaviour of soybean and rapeseed, oils and oilseeds.
Options of importing oilseed for processing in India and developing close co-ordination with the US and Canadian organisations were also considered.
The tripartite agreement will help expand co-operation in areas of like interest to promote the development and use of oilseeds and their derivatives as valuable commodities which advance the interests of their respective producers, processors and users through product and market development support. The MoU signed between SEA and ASA also seeks to expand co-operation in areas of like interest.
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