Global halal economy size has reached $8 trillion: World Halal Summit coordinator

ISTANBUL (AA) – The global halal economy size has reached $8 trillion, World Halal Summit event coordinator Aylin Sengul told Anadolu.

The World Halal Summit and the Halal Expo are two simultaneous events held in Istanbul, organized by the Standards and Metrology Institute for Islamic Countries (SMIIC) and the Organization of Islamic Cooperation (OIC), coordinated by the Turkish Ministry of Trade and the Turkish Halal Accreditation Agency.

“When we first started this event, the global halal economy was around $1 trillion, and with our country’s efforts in halal certification and accreditation, we estimate the global halal economy to grow to $12 trillion in the next five years,” she added.

Sengul stated that this year’s World Halal Summit had an intense participation since the opening programs with 500 Turkish and foreign brands from around 50 different countries, estimating nearly 9,000 foreign visitors throughout the event.

“Unlike previous years, this year we’re hosting business forums of countries, such as Oman, Palestine, Algeria, and Cameroon, as well as the Go Africa event, where we bring important businesspeople and delegates from many regions of Africa to speak,” she said.

She mentioned that the halal economy and halal sectors are generally considered to be only for Muslims, but this year’s event saw non-Muslim interest in halal products due to their healthiness and reliability.

Sengul stated that business-to-business (B2B) meetings at this year’s event grew compared to previous years, with nearly 1,000 international delegations.

She highlighted that the World Halal Organization created two special areas for this year’s event, namely the private label and the natural organic vegan areas.

The World Halal Summit and the Halal Expo events started on Wednesday and will conclude on Saturday.