Chinese Companies Look to Tap Fruitful Halal Market In Dubai
September, 25th 2017
For the ninth year running the show is being hosted by Dubai, with the Gulf emirate positioning itself as a hub for the halal industry, a prospering US$3 trillion (S$4 trillion) market for goods and services that are permissible under Islamic law.
In recent years, Chinese firms have been looking to tap the market, with organizers of the two-day show saying the Chinese halal sector is predicted to hit US$1.9 trillion by 2021, an average growth rate of nine percent from its 2015 level.
One of the of the most important thing in gaining a foothold in the market was winning the trust of consumers said one of the exhibitors.
"We make sure our food is halal," Ms Dai told AFP, noting that the company buys meat from Chinese Muslims to ensure slaughtering is done according to Islamic tradition.
Manager of ARA Halal Development Service Centre, Mr Nicholas Hsiu said the show was an opportunity to promote the company's exports.
The company produces various types of halal noodles and has obtained certificates from sanctioned Islamic accreditation bodies in Hong Kong and elsewhere, Mr Hsiu said.
A total of Seventy-five exhibitors from 15 countries around the world, including Malaysia, the global leader in halal exports, Pakistan, Kazakhstan, Thailand, Switzerland and others took part in the show.
The industry encompasses food, beverages, fashion, cosmetics, tourism, and the US$2 trillion Islamic financial industry.
Exhibitors from Malaysia displayed a wide-range of cosmetics, beauty care products and agricultural seeds that one firm claimed "are better than Viagra".
A Pakistani firm displayed Mountain honey processed to comply with Islamic requirements, while exhibitors from Kazakhstan presented various types of chocolates.
Unlike its oil-rich Gulf neighbors, Dubai has a highly diversified economy, has been striving to become the global hub for the halal industry.
The United Arab Emirates as a whole imports about US$20 billion in halal products every year, part of the some US$50 billion imported annually by the six Gulf Cooperation Council states.
"The UAE has launched an international forum for the accreditation of halal organisations... in a bid to unify procedures around the world," Ms Amina said.
Source: business news