Home Economy Istanbul gears up to host World Halal Summit, OIC Halal Expo

Istanbul gears up to host World Halal Summit, OIC Halal Expo

Istanbul gears up to host World Halal Summit, OIC Halal Expo

The ninth World Halal Summit and the tenth Organisation of Islamic Cooperation (OIC) Halal Expo are set to happen in Istanbul on Nov. 23-26, with a whole bunch of main firms and organizations converging for a serious occasion in one of many fastest-growing markets globally, the halal market.

The two main gatherings for services on the worldwide market conforming to Islamic pointers (referred to as halal), sponsored by Turkuvaz Media, the father or mother firm of Daily Sabah, are anticipated to host 500 exhibitors from 40 nations.

The expo, thought-about one of the vital necessary industrial cooperation platforms, serves within the promotion of Türkiye because the hub of the halal market, estimated to be price greater than $7 trillion (TL 199.59 trillion), based on the pinnacle of the World Halal Summit Council.

“The market is expected to reach $10 trillion in the next five years. Our expo sees the participation of important companies in the field of food, food technology, cosmetics, pharmaceuticals and modest fashion every year,” stated Yunus Ete, the pinnacle of the World Halal Summit Council.

“This year, there is also significant demand from sectors related to Islamic finance and halal tourism,” he added.

Referring to the “Century of Türkiye” imaginative and prescient and a goal of $300 billion in exports by 2025, Ete famous Türkiye has accelerated its seek for different markets.

“Türkiye, which exports to 197 countries, is increasing its per-unit export income and is also focusing on alternative items. In this context, the halal market represents one of the biggest potentials,” he defined.

“According to the Organisation of Islamic Cooperation (OIC) Halal Economy Report, Türkiye, Indonesia and Malaysia have managed to become among the top 20 exporters in Halal economy products,” he said.

With Muslim nations’ expenditures on meals surpassing $1.07 trillion in 2022, Ete highlighted that this determine is anticipated to succeed in $1.5 trillion by 2026.

“This growth presents a strong opportunity window in production, investment and export among OIC countries. There is high consumer demand for healthy, halal and organic food products.”

“Last year, 446 local and foreign companies from 39 countries participated in the fair, and 31,905 people visited. This year, we expect participation from more than 500 local and foreign companies from over 40 countries. We also anticipate over 40,000 visitors, with 10,000 of them being foreign,” he additional defined.

Ete additionally talked about that the World Halal Summit is being held concurrently with the honest, saying, “This year, we are holding the summit with the theme ‘Gateway to the Global Halal Economy: Realize and Unleash the Potentials.'”

He additionally reiterated that they’ve been organizing the International Chefs Championship concurrently with the honest and summit since 2018, and emphasised that this yr’s occasion will probably be rather more complete, as they count on some 1,000 cooks to compete.

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Source: www.dailysabah.com


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