Ahmed: halal business model shifting

A halal food expo set for November will highlight products and trends in an industry that makes it possible for people in the GCC region to consume Shariah-compliant food worth a forecasted level of $43.8 billion this year.

Orange Fairs & Events, which will stage the expo from November 10 to 12, quoted the figure from the Halal Journal which also projected that consumption in the region would rise by another $1 billion in 2010.

The event, in its third year, will take place at Madinat Jumeirah in Dubai and host more than 200 brands from 34 countries worldwide. Space at the venue has been enlarged to 2,600 sq m in order to accommodate the 7,000 to 8,000 trade visitors expected to attend.

The event is endorsed by the Dubai Chamber of Commerce and Industry and the organisers claim it will be 100 per cent bigger than the previous edition.

"With almost all GCC countries relying on imported food products, a significant jump in halal food imports has been monitored over the years, which has eventually led to a unification of understanding and implementation of the halal concept among all players involved in the trade," a statement from Orange Fairs & Events said. 

"Amidst this economic crisis, the region has experienced a growing demand for halal and Shariah-compliant products, which is being further driven by growing cooperation among market players across the globe on a single quality standard for halal products," said Raees Ahmed, director, Orange Fairs & Events.

"Halal Expo 2009 aims to fuel the growth of this potential-laden sector with a focus on encouraging trading of high quality, regulation-compliant products. At present, we are expecting to welcome over 200 brands at the event, but we are geared up to accommodate more companies who want to participate."

Discussions planned

While global companies have been provided with a platform to showcase their products and services, they can also participate in discussions on regulating and modernising the halal trade.

Companies confirming their presence at the event hail from places including the US, Brazil, Argentina, the UK, Italy, China, the Philippines and the Islamic states.

 "The region is witnessing an important shift in the halal business model, as it gears up for further sustainable growth by leveraging investment opportunities in agricultural projects via joint ventures and partnerships," observed Ahmed.

"Our support for this major development in the market is underlined by our consistent efforts to stage the Halal Expo, which has, since its inception, served as an effective platform for companies to introduce their products to the market and for buyers to access the best halal products available. We are confident of and looking forward to the success of the event this year," he concluded.