Export Processing Zones Authority (EPZA) Chairman M Saadat S Cheema visited Lahore Chamber of Commerce & Industries (LCCI) and met with President Farooq Iftikhar and other representatives of Chamber and briefed about Halal Zones. EPZA Chairman said that as a growing economic opportunity, the demand for the Halal products was increasing not only in USA, Europe & Canada but also in the Middle East, Southeast Asia, North Africa and Australia.
According to the PEW Forum on Religious & Public life, the estimated Muslim population as of 2010 had become 1.8 billion which constitute 28 percent of the world population. The demography of Muslim population and increasing interest of non-Muslims in Halal has made it an excellent business/ economic opportunity for the manufacturer of Halal products world-wide. The global market of Halal products was valued at US $635 billion in 2010 according to the Halal Journal - a Kuala Lumpur based magazine as well as Islamic food & nutrition Council of America.
The Halal food market constitutes 16 percent of the global food industries. Being a Muslim and agrarian economy, Pakistan is in advantageous position to secure a significant share in the Halal market if steps are taken in the right direction. But incidentally it has no presence, as yet, in the Halal economy which essentially caters to the faith related needs of the Muslim consumers world-wide.
The local food manufacturers lack awareness about the magnitude of global food market. Farooq Iftikhar, President LCCI, said on this occasion that Pakistan's largest chamber in collaboration with EPZA will be able to not only provide better opportunities but export-related industry will prove an important step towards development. He also reiterated that he would apply for acquisition of land to government of Punjab so that with co-operation of EPZA permitted zone could be established.-PR
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