PAKISTAN HAS POTENTIAL TO CAPTURE HUGE SHARE IN $3tr HALAL INDUSTRY
Lahore Pakistan can capture a sizeable share in the $3 trillion world halal food industry, but existing exports were no match to the country’s annual output of halal meat. However, experts have expressed optimism that Pakistan could triple halal food exports by formulating and implementing policies in association with the private sector.
APBF founding president and TUV Austria Bureau of Inspection & Certification CEO Rashid Mehr said that demand for halal products had increased manifold because of the growing Muslim population worldwide. Therefore, the government should encourage exports of such products. In addition, the CEO asked the exporters to continue to explore the world market and focus on research and compliance, which is a must while doing business in the global marketplace.
The strict Halal compliance, quality certification, and state support could help halal export products to $5 to $6 billion. TUV Austria Bureau of Inspection & Certification is doing the needful to promote halal products, but the government would have to develop an incentive package to encourage the export of good quality halal food. Unfortunately, no Muslim country features among the top 10 halal meat exporters, although Pakistan, Sudan, and other Muslim nations can export meat on a big scale.
Rashid Mehr said Pakistan has a 100 percent halal production base and has direct access to 470 million consumers in Central Asia, Middle East, and Europe.
Therefore, Pakistan has an excellent opportunity to gain a massive share in the global halal market by enhancing production and improving quality, he suggested.
Halal meat is one of the fastest-growing markets globally, contributing around 16 percent to world trade. Still, Pakistan’s share in this is not as much as it should be, necessitating extra efforts on the government to give a much-needed boost to this sector.
Pakistan can play a significant role in the global halal meat industry and can become a market leader since it has all the required ingredients. He pointed out that TUV Austria Bureau of Inspection & Certification played a vital role in the expansion of the Halal food industry and taking all possible measures for promoting halal products by providing strict quality compliance.
The certification company has recently awarded various companies, including Euro Food Industries, with its Halal Food Certification for their full compliance with Islamic dietary laws. Halal Food Certification covers the issues related to Slaughtering/Zibah and considers the issues related to Halal ingredients and Good Manufacturing Practices, he added.