Barcelona, Nov 3 – The twelfth edition of the Mediterranean Week of Economic Leaders (MedaWeek) that will be held from November 21 to 23 in Barcelona, will host the second Mediterranean Halal Forum, which will be focused on business opportunities and investment within this industry in the Mediterranean region.
The forum, organized by the Association of Chambers of Commerce and Industry of the Mediterranean (ASCAME), together with the Chamber of Commerce of Barcelona and the Halal Institute of Spain, will address the opportunities, trends and investments of the sector in several sessions.
The halal industry not only includes banking and finance but also the food, tourism, fashion, pharmacy and cosmetics sectors, among others.
The number of companies that want to get the halal certification has been growing in recent years, since Muslims represent 23% of the world population, with more than 1.6 billion people.
The halal industry is valued at more than two trillion dollars, excluding banking and finance, and it is estimated that by 2023 the industry will reach three trillion dollars.
Food and Beverage is the leading sector, with 1.3 trillion dollars, followed by Fashion and Textile, with 270,000 million; Media and Recreation, with 209,000 million; the Tourism and Travel sector with 177,000 million and the Pharmaceutical and Cosmetic, with 148,000 million.
The countries that consume the most halal are Indonesia, Turkey and Pakistan, while Asia is the most important continent of halal consumption, since it represents 64% of the total, and the Middle East, Africa and Europe register the highest growth.
The forum will allocate a special session to debate the redefinition of the procedures that regulate this halal industry and its new standards.
Spain has 550 companies with halal certification, although, according to the organizers of the forum, the potential of the Mediterranean agricultural sector, especially Spanish and Catalan, is enormous.