The global halal business is expected to reach a staggering $6.7 trillion by the end of this year, according to Ahmad Kawesa Sengendo, the Assistant Secretary-General for Economic Affairs of the Organization of Islamic Cooperation (OIC), Report informs.
Speaking at the Halal Business and Tourism Forum (AZHAB Forum) in Baku, Sengendo highlighted the remarkable 47% growth in the global halal industry over the past six years.
"The world's interest in halal business is constantly growing," Sengendo noted. "In this regard, we need a comprehensive approach. In a broad sense, the halal sector should not be understood as only the food sector. It includes many areas that meet people's needs, from finance to tourism, from pharmaceuticals to cosmetology."