As Istanbul prepares for the ninth World Halal Summit and tenth Organisation of Islamic Cooperation (OIC) Halal Expo, Türkiye is strategically positioning itself as a key participant within the world halal market, in line with the CEO of Uncover Occasions and World Halal Summit Council President Yunus Ete.
“The Halal Expo 2023 and the ninth World Halal Summit to be held between Nov. 23-26 are anticipated to assist Türkiye develop and develop into much more influential within the halal market,” Ete informed Every day Sabah in an unique interview.
Focusing strategically on diversifying its markets throughout the “Century of Türkiye” imaginative and prescient the nation goals to raise its exports to $300 billion by 2025, mentioned Ete, including that the “halal market presents one of many greatest potentials for this ambition.”
Türkiye has already made important strides within the halal sector, rating among the many high 20 exporters of halal merchandise alongside Indonesia and Malaysia, in line with the OIC’s Halal Financial system Report.
The nation on the crossroads between Europe and Asia can be one of many three nations, alongside Indonesia and Malaysia, that has the capability to provide and export over 20 forms of merchandise, Ete famous.
The worldwide halal market is valued at over $7 trillion (TL 200.2 trillion), in line with Ete, and is anticipated to increase additional to $10 trillion over the subsequent 5 years.
Ete mentioned that spending on meals by shoppers in Muslim nations exceeded $1 trillion in 2022 and is anticipated to rise to $1.5 trillion by 2026. In his phrases, this progress gives an necessary window of alternative for investments and exports amongst OIC nations.
“There’s excessive shopper demand for wholesome, halal and natural meals merchandise,” mentioned Ete, asserting nevertheless that OIC nations are depending on imports within the meals, pharmaceutical and cosmetics sectors.
Seeing this chance, Turkish firms are specializing in investments in halal-certified merchandise, he mentioned, including they’re additionally taking very strategic steps to create a powerful community on this market.
Ete additionally underscored the significance of the expo and the energetic efforts of the nation’s Halal Accreditation Company.
Depicting the principle slogans of this yr’s exhibition as “The World’s Greatest Halal Showcase” and “The Gate to the International Halal Financial system,” Ete additional highlighted a really sturdy demand for the Halal Expo Honest.
He mentioned necessary firms within the fields of meals, meals applied sciences, cosmetics, prescribed drugs, textiles and modest style present a really excessive degree of curiosity within the occasion every year.
This yr, there’s additionally severe demand for exhibitors from sectors associated to Islamic finance and halal tourism, he famous.
Touching upon halal accreditation and the scope of the halal market, Ete mentioned that opposite to common perception, the halal market encompasses way more than halal meals.
“Individuals first consider the meals business once they consider the halal market, however halal certification just isn’t restricted to meals. Halal certification additionally applies to lotions and ointments that come into contact with pores and skin, toothpaste, clothes and cosmetics. Tourism can be a major business,” he defined.
We see that the demand by shoppers and worldwide competitors additionally result in extra resorts making use of for the certification, he added.
In keeping with Ete, rising dynamics within the world commerce market assist the curiosity within the halal market develop, each in Türkiye and on a world degree.
Explaining that the search for alternate options to Israeli items and the worldwide boycott of these items has directed demand towards halal-certified merchandise, Ete mentioned: “The individuals confirmed their response to the assaults on Gaza, began on the lookout for alternate options to Israeli merchandise, and targeted on the halal market. Gross sales of halal-certified merchandise starting from meals to hygiene, prescribed drugs to textiles, have proven a rise of over 100% prior to now weeks.”
“It’s clear that the worldwide halal market, having already surpassed the dimensions of $7 trillion, continues to develop ever stronger with the current momentum,” he mentioned.
Moreover, Ete defined that the expo, which receives guests from over 100 nations, serves as a platform for certified firm representatives and enterprise individuals to find new merchandise, increase their community and diversify their portfolio.
“Our contributors will meet over 500 professionals, particularly from Türkiye, the Center East, Central and Western Europe, the Balkans and Africa,” he mentioned. He additionally added that the expo, as in earlier years, may even host a particular B2B program via the help of the Ministry of Commerce of the Republic of Türkiye.
Ete mentioned the Worldwide Cooks Championship has additionally been organized concurrently with the honest and the summit since 2018 and added that this yr, the occasion shall be organized way more comprehensively.
“This yr, 1,000 cooks will take part within the championship, which we manage in cooperation with the All Cooks and Pastry Cooks Confederation (TAŞPAKON) and the World Platform of Islamic Nations Culinary Societies – WICS,” he famous.
Moreover the honest’s impactful financial contribution, the convergence of world halal market leaders in Istanbul holds significance not just for the financial system but additionally in fostering tourism and cultural exchanges, Ete emphasised.
“It additionally provides to the attractiveness of Türkiye as a halal-friendly vacation spot,” he added.
“Istanbul is our crown jewel and the truth that the ninth World Halal Summit and tenth OIC Halal Expo 2023 is being held right here additionally reinforces our metropolis’s place as a world scorching spot,” he concluded.