Turkey to Host World Halal Summit, OIC Halal Expo
Highlights: Turkey is gearing up to host the 9th World Halal Summit and the 10th Organization of Islamic Cooperation (OIC) Halal Expo from November 23-26 in Istanbul. With 500 exhibitors from 40 countries and over 40,000 expected visitors, the events highlight the significant growth in the halal market, projected to reach $10 trillion in the next five years. Yunus Ete, head of the World Halal Summit Council, emphasizes the diverse participation, including sectors like food, technology, cosmetics, pharmaceuticals, modest fashion, Islamic finance, and halal tourism. Turkey’s focus on alternative markets, particularly the expanding halal economy, reflects substantial potential for increased export income. The country, alongside Indonesia and Malaysia, has secured a position among the top 20 exporters in halal economy products, aligning with the rising demand for healthy, halal, and organic food products among Muslim countries. The Muslim countries’ expenditures on food exceeded $1.07 trillion in 2022, with an anticipated rise to $1.5 trillion by 2026.
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