Pakistan entered the global Halal market very late, which is why it is still a small player. Currently, the country's share of total Halal exports is close to 5% of world trade. According to a Reuters report, the overall Halal economy reached 9.5% in 2013 and will reach 10.8% annually by 2019, expected to reach US$3.7 trillion. This constitutes the potential core market in the Halal food and lifestyle sectors.

This is why the Pakistan Business Council (PBC) recently proposed developing a coherent institutional framework for Halal food standards.

At a roundtable on 'Harmonizing Food and Halal Standards,' it suggested establishing a national food safety commission to streamline standard-setting, develop conformity assessment, and determine enforcement responsibilities and registration procedures nationwide.

In addition, Pakistan has established strong relationships with the UAE and Saudi Arabia. The UAE and Saudi Arabia will vigorously expand investment in various fields and develop trade with Pakistan. These measures will help drive economic development in various sectors of Pakistan.

The top leaderships of the UAE, Saudi Arabia and Pakistan held high-level negotiations.

These three countries are now developing final plans on opportunities in various economic sectors, so that Pakistan can expand exports, such as signing preferential trade agreements and officially approving the export of cost-competitive Pakistani products to the UAE and Saudi Arabia.

FAQ

What did the Pakistan Business Council (PBC) propose for Halal food standards?
The PBC proposed developing a coherent institutional framework for Halal food standards. At a roundtable on 'Harmonizing Food and Halal Standards,' it suggested establishing a national food safety commission to streamline standard-setting, develop conformity assessment, and determine enforcement responsibilities and registration procedures nationwide.
What cooperation does Pakistan have with Gulf countries in Halal trade?
Pakistan has established strong relationships with the UAE and Saudi Arabia, which will vigorously expand investment in various fields and develop trade with Pakistan. The top leaderships of the three countries held high-level negotiations and are developing final plans on opportunities in various economic sectors so that Pakistan can expand exports, such as signing preferential trade agreements and officially approving the export of cost-competitive Pakistani products to the UAE and Saudi Arabia.