BAKU, Azerbaijan, October 7. Imports of halal products in the countries of the Organization of Islamic Cooperation (OIC) will grow from $359 billion in 2022 to nearly $492 billion by 2027, the OIC Deputy Secretary General for Economic Affairs Ahmad Kawesa said at the Halal Business Forum in Baku, Trend reports.
According to him, these figures demonstrate the enormous potential of the halal economy as a tool for development, attracting investment, expanding trade, and creating jobs.
He noted that modern production and processing facilities, warehouses, and certification centers that comply with international standards ensure transparency and trust in halal products.
The OIC Deputy Secretary-General cited the example of the Islamic Development Bank's Centre of Excellence in Kuala Lumpur, which, in collaboration with the Malaysian government, implemented the Halal Industrial Park 2.0 initiative. The goal of the project is to create industrial parks that attract investment and stimulate innovation in the halal industry, supporting the entire production and export cycle.
awesa also noted that Azerbaijan, thanks to its strategic location and growing economy, has a unique opportunity to develop similar parks for the processing and export of halal products, strengthening its role in the global supply chain.