The global Halal market is witnessing significant activity, with major players like the UAE and Indonesia making strategic moves to enhance their positions. Here’s a breakdown of their recent efforts:
UAE’s Ambitious Strategy
The UAE has approved a comprehensive strategy to boost its Islamic finance sector and the halal industry. The aim is to increase the assets of Islamic banks from 986 billion Emirati dirhams to a staggering 2.56 trillion Emirati dirhams within the next six years. This strategy also focuses on strengthening international sukuk listings in the UAE, targeting 395 billion Emirati dirhams. This initiative is designed to boost local halal production and expand its reach in global Islamic markets.
Indonesia’s Halal Export Surge
Indonesia is aggressively pursuing its vision to become the world’s leading producer of halal products. In 2024, the country’s halal export transactions reached US$64.11 billion. To further propel this growth, the Halal Indonesia International Industry Expo (Halal Indo) 2025 is scheduled for September 25-28 in Tangerang, Banten. This expo aims to provide a significant boost to the industry.
Other Key Developments
- Morocco and Russia Strengthen Halal Ties: Morocco and Russia are enhancing their cooperation in the halal industry through new certification agreements. Tatarstan’s Committee for Halal Standards is seeking accreditation in Morocco to facilitate halal product exports to the country. Tatarstan aims to increase its halal exports to $15 million in 2025, up from $14 million the previous year.
- Hong Kong’s “Halal Q Mark”: Hong Kong is set to introduce a “Halal Q Mark” for certified halal products and services. This initiative is expected to boost Muslim tourism growth by providing assurance and recognition of halal standards in the region.
- MEGA HALAL Bangkok 2025: Thailand will host MEGA HALAL Bangkok 2025 from July 16-18, aiming to create a gateway for Asian halal products to world markets. The event is a collaboration between ComAsia Co., Ltd., Worldex G.E.C. Co., Ltd., and the Islamic Committee of Thailand.
- Tanmiah’s Strategic Alliances: Tanmiah has partnered with Griffith Foods to boost Halal culinary innovation across the Middle East. Additionally, Tanmiah and Vibra have formed a halal food alliance to enhance Saudi-Brazil poultry trade.
Conclusion
The global halal market is experiencing dynamic growth, with the UAE and Indonesia leading the charge through ambitious strategies and significant investments. These developments, along with other global initiatives, signal a promising future for the halal industry worldwide.