Turkey seeks to get $400B share in global halal sector

Turkey can increase its share to 10 percent -- $400 billion -- in the global halal market, said World Halal Summit’s head on Tuesday.

“With our government's policies and the efforts of the private sector, we can raise our share of the global halal market to 10 percent -- $400 billion in a short period of time,” Yunus Ete told Anadolu Agency.

The World Halal Summit Istanbul (WHSI) and the 5th Organization of Islamic Cooperation (OIC) Halal Expo would be held under the auspices of the President Recep Tayyip Erdogan on Nov. 23 in Istanbul.

Ete said that the world halal sector has almost reached $4 trillion, of which $2 trillion is “Islamic Finance”, $1 trillion “Halal Food Industry”, $250 billion “Halal tourism”, and the rest is medicines cosmetics and textiles.

“Turkey's share of the world's halal sector varies between 2 percent and 5 percent. Our country's share of the Islamic market is about $100 billion”, Ete added.

Ministers and representatives from 57 countries will join the summit and expo, of which Anadolu Agency is the global communications partner.

More than 7,500 people with 150 top brands, institutions and organizations from over 80 countries are expected to attend the summit and expo.