OIC: halal market to grow up to $6.4tr by 2019

According to OIC the size of the global halal market has grown exponentially in the last decade, from US$3.7 trillion in 2012 and expected to reach US$6.4 trillion by 2019.

Hawzah News Agency (Istanbul, Turkey) -The Organization of Islamic Cooperation (OIC) stated that the size of the global halal products market has grown exponentially in the last decade, from US$3.7 trillion in 2012 and expected to reach US$6.4 trillion by 2019.

This was contained in the statement of the OIC Secretary General, Dr Yousef A. Al-Othaimeen at the opening ceremony of the 5th edition of the Organization of Islamic Cooperation Halal Expo and the WorldHalal Summit held in Istanbul, Republic of Turkey from 23 – 25 November 2017.

The OIC Assistant Secretary General for Economic Affair, 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 Organization of Islamic Cooperation.

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.