BAKU, Azerbaijan, June 16. Member countries of the Organization of Islamic Cooperation (OIC) should more actively harness the halal economy potential, Former Minister of Türkiye, Director General of the Statistical, Economic and Social Research and Training Center for Islamic Countries (SESRIC) of the Organization of Islamic Cooperation (OIC) Zehra Zümrüt Selçuk said at the 14th Islamic Development Group (IsDB) Private Sector Forum held in Baku, Trend's correspondent reports from the event.
She noted that member countries of OIC need to step up coordination and integration to turn the rapidly growing demand for halal products into new investments, export opportunities, and sustainable economic development.
According to her, regional cooperation institutions can play a strategic role in developing the halal economy ecosystem within the OIC region.
"We are responsible for supporting our member states in transforming existing potential into coordinated actions, new partnerships, and tangible results in sustainable development. Regional cooperation institutions can play a key role in deepening the integration of ecosystems among OIC countries," she said.
Selçuk noted that the halal economy today represents a multi-trillion-dollar ecosystem encompassing Islamic finance, halal food production and trade, the pharmaceutical industry, logistics, and more.
The head of SESRIC also emphasized the special role of OIC countries in developing this sector.
According to her, the organization's member states account for approximately 81% of the world's Muslim population, and the region itself accounts for approximately 80 percent of the global halal market.
"This demographic and economic base not only ensures sustainable demand but also creates significant opportunities for industrial development, value chain integration, and expanded regional cooperation," Selçuk said.
She emphasized that the continued growth of the halal economy will depend on countries' ability to establish closer cooperation in trade, investment, labor markets, product standardization and certification, and support for small and medium-sized enterprises.
"Our task is to transform existing demand into greater production capacity, increased exports, investment, quality job creation, and deeper regional integration. The future of the halal economy depends on how effectively we can integrate these elements into a unified and coherent ecosystem," she added.
