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OIC expects halal products market to grow up to $6.4 trillion by 2019

OIC expects halal products market to grow up to $6.4 trillion by 2019Istanbul : The Organisation of Islamic Cooperation (OIC) stated that the size of the global halal products market has grown exponentially in the last decade, from $3.7 trillion in 2012 and expected to reach $6.4 trillion by 2019.

This was contained in the statement of OIC Secretary General Dr. Yousef Al-Othaimeen at the opening ceremony of the 5th edition of the OIC Halal Expo and the World Halal Summit held in Istanbul, Turkey, on November 23-25.

OIC Assistant Secretary General for Economic Affairs Ambassador Hameed Opeloyeru, who read out the statement of the secretary general, explained that organizing the annual halal expo is one of the main planks for advancing trade in the OIC. The event affords actors — traders, investors, exporters, the industry guilds and the general public — the opportunity to know the latest halal products in the member states, with a view to promoting halal products and increasing communication between the investors and industry leaders.

He stressed that there was a need for active bodies in the food, halal services, production and marketing sector in the OIC member states to follow a common course to ensure that all specialized bodies unify their standards and issue accreditation certificates for a suitable regulatory environment for these procedures.

Istanbul is hosting the Halal Expo in cooperation with the OIC-affiliated Islamic Centre for the Development of Trade (ICDT), Standards and Metrology Institute for Islamic Countries (SMIIC).

—IINA/SM/OIC-UNA

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