“The Muslim World Needs Common Ground In A $ 7 Trillion Halal Economy”

The global halal economy, which was $ 4 trillion in 2017, has now reached $ 7 trillion, Turkish Vice President Fuat Oktay said on Thursday at the 7th Global Halal Summit held with the 8th Halal Summit of the Organization for Islamic Cooperation (OIC).

Oktay said the summit hosts nearly 60 speakers from more than 20 countries and 400 companies from 35 countries operating across multiple industries, including food, cosmetics, medicine, chemicals, textiles, tourism and technology, despite the COVID-19 pandemic, which demonstrates interest in halal products and services.

He said that the main reason why these products, especially halal foods, are preferred, is the requirements of Islam; however, non-Muslims are also interested in these products for several reasons, not least because they are healthy or clean.

Today, the biggest halal manufacturing countries are non-Muslim countries like Brazil, Australia, France, Germany and New Zealand, he said.

Oktay said the industry first took place in Far Eastern countries like Malaysia or Indonesia with studies to ensure the safety and halal properties of food, and gained different momentum with Turkey’s initiatives.

“The Institute for Standardization and Metrology of Islamic Countries (SMIIC) was established in Istanbul under the leadership of our country and continues its activities. Additionally, as an institution operating under SMIIC standards, we established the Halal Accreditation Agency (HAK) three years ago under our Ministry of Commerce, ”Oktay said, informing that the agency assessed applications received from all over the world and took back 640 halal certificates under accreditation guarantee. As a result of the Memorandum of Understanding (MoU) signed between HAK and SMIIC, HAK has become a training base that offers training valid all over the world.

With the trainings organized by HAK so far, “we have provided skills to nearly 300 industry professionals from over 20 countries and we are continuing these trainings without slowing down,” he said, noting that they attach great importance to ensuring that all Muslims, including those in Turkey, do not have the slightest doubt as to whether the products and services they buy are halal or not.

However, Oktay continued, “the Islamic world should now be able to speak a common language in terms of halal content, process and service.”

“We cannot come together on common ground and act together to contribute to the halal economy,” Oktay said, stressing that the reliable and global halal certified business environment will result in benefits, health and safety. trust for “all of us, all Islamic countries and our private sector.

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