Global Hub: Makkah Halal Forum Launched To Promote Sustainable Growth

The rapid growth of the halal sector is projected to reach $7 trillion in 2024 and $10 trillion by 2030, with an annual growth rate of 5.5%. To promote the growth, the Makkah Halal Forum, themed "Sustainable Development through Halal," was inaugurated by Minister of Commerce Dr. Majid Al-Kassabi.

The event took place at the Makkah Chamber for Exhibitions and Events Center, drawing numerous officials, business leaders, and stakeholders. Attendees explored the exhibition accompanying the forum before participating in a formal ceremony. He emphasised that the industry now extends beyond Islamic countries, focusing on quality and adherence to health and religious standards.

Under Saudi Vision 2030, the Kingdom aims to become a global hub for the halal industry. This strategy includes establishing the Halal Products Development Company to foster innovation and enhance quality. The national strategy for halal products supports these goals by opening new avenues for growth.

Makkah Chamber of Commerce Board Chairman Abdullah Saleh Kamel also addressed the forum. As Chairman of the Islamic Chamber of Commerce and Development, he stated that the forum is a leading platform for enhancing the halal industry and supporting the Islamic economy. He stressed that Makkah is pivotal in launching initiatives for excellence and quality.

The halal market has expanded into various sectors, requiring new strategies for maintaining excellence and quality. This expansion underscores Makkah's role as a central point for these initiatives. The forum serves as a catalyst for further development within this rapidly growing industry.

Memoranda of understanding (MoUs) were signed between local, Islamic, and international entities. These agreements aim to strengthen collaborations across different sectors within the halal industry.

With inputs from SPA