Bahrain will host its first Halal Products Forum and Exhibition on February 6-7.
The forum will be organised in cooperation with the Ministry of Industry and Commerce, the Islamic Society, Checklist for Conventions & Trade Shows, the UNIDO Investment and Technology Promotion Office, the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI), Bahrain Institute of Banking and Finance (BIBF); as well as several Islamic and international organisations specialised in halal products.
Shaikh Dr. Abdullatif Mahmood Al Mahmood, Member of the Supreme Council for Islamic Affairs, affirmed the importance of this forum. He said efforts were in full swing to launch an entity that will serve as a global centre for issuing certificates for halal food products, as well as medicines and cosmetics.
The announcement was made during the press conference on the Halal Products Forum and Exhibition in February, in which 50 companies from multiple countries are participating.
Shaikh Al Mahmood said that halal product revenues are expected to exceed $7 billion, noting the importance of unifying the halal product system globally.
Ali Shubar, Director of the Testing and Metrology Directorate at the Ministry of Industry and Commerce highlighted the ministry’s contributions to organising and holding the forum.
He said that the forum will address a variety of aspects related to the halal industry, including legislation, food products, and cosmetics, as well as formulating a system for halal products in the kingdom and learning about the best international practices in this area.
The forum is designed to bridge the gap between Islamic finance and the halal industry, as well as explore investment opportunities in halal products, which have diversified into a wide range of food sectors; agriculture, white and red meat, cosmetics, and medical supplies, in addition to tourism and travel.
The forum will also emphasise the value of commercial arbitration, which includes contracts and agreements between parties and exploring new opportunities for entrepreneurs and small and medium businesses.
The forum will also feature specialised workshops that will cover specific aspects of promoting halal in various sectors, as well as showcasing facilities available in Bahrain for setting up halal projects.
Halal markets worldwide are growing strongly, driven by a growing demand for goods and services, and are expected to reach $7.7 trillion by the year 2025, led by the Islamic finance sector.