medaweek2016_1The Halal Institute co-organizes, together with the Mediterranean Association of Chambers of Commerce and Industry (ASCAME) the 1st Mediterranean Forum of the Halal Industry, to be held next 2nd December in Barcelona.

This Forum is part of the Mediterranean Week of Economic Leaders, MedaWeek 2016, starting tomorrow until the  2nd December, with the purpose of involving companies in the main issues affecting the Mediterranean.

Under the motto “Time for action”, the 1st Mediterranean Forum of the Halal Industry will gather key stakeholders in the sector, governmental institutions and business leaders to understand the commercial and trade opportunities offered by this emerging market in the Mediterranean area.

There are more than 1.600 million Muslims in the world, consumers of halal products (“permitted”, as per Islamic law), with a significant portion of them in the southern half of the Mediterranean. This market represents an attractive trade opportunity for companies in the Mediterranean region, which should be offering an increasing number of halal-certified products and services.

Halal food is one of the biggest sectors in halal industries, representing near 50% of this 2.5 trillion dollar market at global level. The halal food industry is growing really fast. In 2014, Muslim consumers spend 1.1 trillion dollars in food and beverages. From these, 1 trillion was spent by the Organization for Islamic Cooperation (OIC) countries in halal food. The expenditure in halal products is expected to rise to 1.5 trillion dollars in 2020, representing 16,9% of the world expenditure in food and beverages.

However, the Halal concept does not only involved the F&B sector, but includes other sectors, such as tourism, fashion, cosmetics or finances, representing a whole lifestyle. The forum will present the increasing demand for this kind of products and services, from restaurants, hotels and other businesses, which have adapted their products and services to the needs of their Muslim customers. Attendants to the forum will have the opportunity of exploring the halal consumption market trends and possibilities for investment.

Isabel Romero, general manager of Instituto Halal, will take part in the Forum opening. The director of Instituto Halal in Madrid, Tomás Guerrero, will take part in the roundtable “The halal market: trends and perspectives”. Also, Muhammad Escudero, director of certification of Instituto Halal will chair the roundtable “Regulation and certification of halal products”.

Instituto Halal of Islamic Board, with headquarters in Córdoba, Spain, is the leading halal certification company in Spain, with more than 300 halal certified companies, exporting products and services to more than 80 countries worldwide.