Nov 21 2013
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Demand on halal products to grow by 15%
Thursday, Nov 21, 2013
Demand for halal products is expected to grow by 15 per cent in the next two years and Dubai is looking to develop an international standard for the industry, Saleh Lootah, Managing Director of Islami Food, told Gulf News on the sidelines of Exporter Forum 2013.
“In line with Dubai Islamic Economic strategy, demand for halal products is expected to grow from 10 to 15 per cent in the next two years.”
While Islami Food is a leading halal industry in the UAE, Lootah expected an increase in the number of investors in the halal market. He called upon the authorities to set up a halal industrial free zone to encourage the flow of investments in this sector.
While there are two billion Muslims in the world, Lootah said that they vary in their halal knowledge and governments should work hard to target this segment by enhancing awareness about halal.
It was announced earlier that Dubai will set up an international centre for halal products and is targeting 10 per cent of the global market share in the next three years.
The centre will include an international laboratory and accreditation centre and will be active by the first quarter of 2014.
Dubai Exports is developing an Islamic index that includes a database about all UAE halal companies across all sectors — cosmetics, textiles, pharmaceuticals, clothes, hotels and others.
This will contribute in facilitating the growth of the halal industry as well as provide information that can help in finding a unified standard for this business segment.
The halal market can perform to its full potential for business when standard is harmonised, said Torek Farhad, Senior Adviser of Business Environment at the International Trade Centre (ITC) Geneva.
“Dubai’s involvement in the halal sector is good news and we can be sure new benchmarks of excellence will be set in this area of activity as well, right here in this city,” Farhad said.
By Zaher Bitar Senior Reporter
Gulf News 2013. All rights reserved.
© Copyright Zawya. All Rights Reserved.
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