Chinese firms set sights on halal market in Dubai
Chinese firms are increasingly looking to tap into the lucrative halal industry, according to a recent news report. The UAE ranked among the top three countries - after Malaysia and Bahrain - in the Global Islamic Economy Indicator in the halal food sector.
AFP reports that the Chinese halal sector is forecast to hit $1.9 trillion by 2021, an average growth rate of 9% from its 2015 level. The report also adds that the UAE imports about $20 billion in halal products every year, part of the some $50 billion imported annually by the six Gulf Cooperation Council states.
Globally, the halal products and services sector is growing at 8% year-on-year to $2.3 trillion (Dh8.44 trillion) – higher than the GDP of more than 200 countries in the world, according to research conducted by Orange Fairs and Events, organisers of the Halal Expo – Dubai, 2017.
Seventy-five exhibitors from 15 countries, including Malaysia, the global leader in halal exports, Pakistan, Kazakhstan, Thailand, Switzerland and others took part in the show.
The Dubai Halal Expo was held on September 18-19 in Dubai.