Traders demand focus on Halal food export
But with the requirement for halal meat removed, non-Muslim communities are likely to grab a big chunk of the market. PHOTO: Anadolu
Businessmen have called upon the government and the private sector to make serious efforts to enable Pakistan to gain its due share in the global Halal food segment.
Despite being a Muslim majority country, Pakistan’s share in the global Halal food trade is mere 0.26%, said Pakistan Businesses Forum Vice President Ahmad Jawad while talking to APP.
According to him, the share could be increased by upgrading Halal food certification and provision of Halal storage facilities to the local meat traders.
“The size of the global Halal food market is expected to reach $3.2 trillion by fiscal year 2023-24,” he said. “Therefore, this segment needs to be tapped through timely, comprehensive and practical steps.”
He voiced regret that not a single Muslim country was among top five global Halal food exporting nations.
He added that the export sector of Pakistan needed to enhance production of commercial goods to become competitive in the global arena.
According to him, this was possible only through the use of latest technology, innovation and research and development.
He was of the view that the country’s economy could not improve without strengthening trade ties with emerging global and regional markets including Russia, Central Asian Regions (CARs), Africa, Turkey and South East Asian Nations (ASEAN).
He underscored the need to improve regional trade integration in a bid to uplift the domestic economy.
Published in The Express Tribune, March 23rd, 2022.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.