Baladna Q.P.S.C. signed today a Framework Agreement with the Algerian Ministry of Agriculture and Rural Development for the world’s largest integrated dairy farming and production project aimed at producing powdered milk in southern Algeria. The agreement that outlines a total investment of $3.5 billion was signed by Ms. Souad Assous, Director General of Agricultural Investment and Land at the Ministry of Agriculture and Rural Development, and Mr. Mohamad Moutaz Al-Khayyat, Chairman of Baladna. The signing ceremony was attended by HE Mr. Youcef Cherfa, Minister of Agriculture and Rural Development in Algeria; HE Mr. Laaziz Fayed Fayed, Minister of Finance in Algeria; and His Excellency Mr. Abdelaziz Ali Al-Nama, the Qatari Ambassador to Algeria, among other dignitaries.This venture, held 51% by Baladna and 49% by the Algerian State through the National Investment Fund, will develop large scale vertically integrated dairy operation in Algeria. This groundbreaking project will cover 117,000 hectares and will be segregated into three hubs, each comprising of an arable farming operation, a dairy and beef farming operation, and a powdered milk manufacturing facility.Mr. Mohamad Moutaz Al-Khayyat, Chairman of Baladna, commented on this agreement, saying: "We are delighted to formalize this partnership between Baladna and the Algerian Ministry of Agriculture and Rural Development. This strategic project is a cornerstone in fostering the growth of Algeria's agricultural sector, driving the nation toward self-sufficiency , and bolstering food security—a critical global challenge that commands concerted efforts from countries and international entities alike.“Baladna has a proven track-record of rapid and significant achievements in Qatar, having attained self-sufficiency within a mere 12 months, courtesy of employing foremost international technologies and leveraging a wealth of expertise in the agriculture industry. It is with great anticipation that we aim to replicate this success in Algeria, encapsulating these valuable experiences and technologies to implement exemplary, sustainable practices on an international scale.”Mr. Malcolm Jordan, CEO of Baladna added: “We are looking forward to working together with our Algerian partners to build one of the world’s largest vertically integrated dairy companies. This strategic partnership not only aligns with our ambitious growth objectives but also promises significant returns and long-term value for our shareholders.”The project aims to meet 50% of Algeria’s national demand for powdered milk, supplement the local market with red meat, create 5,000 direct local jobs, and contribute to the growth of the national cattle stock. It will also leverage modern technology and best management practices to enhance dairy farming efficiency, reduce production costs through economies of scale, and improve control over the entire value chain.The "Baladna" project for powdered milk production is part of the Algerian state's strategy to produce widely consumed products in line with the national food security strategy.

The State of Qatar has affirmed its interest in the Veto Initiative, out of its recognition of its importance in embodying the significant role of the United Nations General Assembly under the organization's Charter, which grants it jurisdiction in matters related to the preservation of international peace and security.The State of Qatar said that it is imperative for the General Assembly to continue assuming this role and to persist in discussing issues where the veto is used within the most comprehensive representative body of the United Nations, especially as these issues encompass various economic, social, humanitarian, and rights aspects.This came in a statement delivered by Deputy Permanent Representative of the State of Qatar's Permanent Mission to the United Nations Jassim Al Maawda before the UN General Assembly on Agenda Item 60 entitled "Use of the veto", in accordance with Resolution 76/262 of which the Sate of Qatar was among the core group of states proposing it, at the United Nations Headquarters in New York.Al Maawda said that since the adoption of the resolution, the role of the General Assembly concerning the preservation of international peace and security has expanded significantly, as the initiative has facilitated the formulation of a more effective and integrated relationship between the two bodies within the framework of maintaining international peace and security. He pointed out that the General Assembly has held five meetings since the beginning of its current session, including three meetings regarding the situation in the Gaza Strip, due to the repeated failure and inability of the Security Council to fulfill its role and responsibilities in responding to this unprecedented humanitarian crisis following the use of veto by permanent member states. This provided an important opportunity for a serious discussion in the General Assembly, reflecting international consensus on the demand for the immediate cessation of Israeli aggression on the Gaza Strip, and the protection of innocent Palestinians according to international humanitarian law, he added.He further said that Resolution 76/262 does not seek to encroach upon the mandate or tasks of the Security Council, noting that the resolution's addressing of the veto issue is limited to matters related to the role and functions of the General Assembly in accordance with its mandate under the Charter. Moreover, it does not interfere with the intergovernmental negotiation process regarding Security Council reform concerning the veto issue, he added.The State of Qatar sees the adoption of Resolution 76/262 and the discussions that have taken place and will continue to take place in the General Assembly regarding issues where the veto is used as an opportunity to push towards achieving the desired consensus and to strive to avoid future use of the veto in such matters, thereby fulfilling the Security Council's responsibility in preserving international peace and security, Al Maawda underlined.He stressed that the State of Qatar, based on its known commitment to the principle of the plurality of parties, reaffirms the central role of the General Assembly as the most comprehensive representative body within the United Nations. He further stated that the State supports building upon this initiative by allowing the General Assembly to make recommendations on issues where the Security Council has not fulfilled its role and responsibilities, especially cases related to serious violations of human rights and threats to international peace and security. (QNA)