President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Atif Ikram Sheikh, showcased Pakistan's potential in the global Halal foods market at the Makkah Halal Forum 2024. Revealing a staggering $2.5 trillion market size, Ikram anticipates a 13.5 percent annual growth, propelling it to $5.8 trillion by 2033.
During the forum, a pivotal moment unfolded as the FPCCI delegation, led by Atif Ikram Sheikh, signed the FPCCI-MANAFEA Agreement. This landmark event was witnessed by His Excellency Majid bin Abdullah Al Qasabi, the Commerce Minister of Saudi Arabia. The MANAFEA Partnership, comprising Makkah Chamber, Madina Chamber, Jeddah Chamber, Taif Chamber, and Islamic Chamber of Commerce, Industry, and Agriculture, aims to boost Pakistan's exports to OIC countries, with a specific focus on Saudi Arabia.
Atif Ikram Sheikh highlighted Pakistan's inherent strength in claiming a significant share of the global Halal foods market, emphasizing that all food products produced in the country adhere to Halal standards. He underlined that redirecting more of this produce towards exports would incur no additional labor or costs. Notably, the Halal foods market is experiencing growth globally, transcending cultural or religious boundaries.
FPCCI Chief stressed that the importance of Makkah Halal Forum is such that 120 countries and 200 major exhibitors participated in the exhibition – with the theme “Innovation in Halal Industry.” He further said that Pakistan should aim to attain at least 1 percent of the market share over the next 3 – 5 year; and, that alone can mean exports of $25 billion as per the current market size. We cannot be left out of this humongous export potential," he added.
President FPCCI highlighted that tapping into GCC countries holds the key to multiplying Pakistani Halal foods exports; i.e. Saudi Arabia, UAE, Qatar, Kuwait, Bahrain and Oman; for the reason that Pakistan has very warm and brotherly relations with these countries – and, these countries are willing to help us to deal with our economic woes.
During the visit, Atif Ikram Sheikh held important meetings with Sheikh Abdullah Saleh Kamel, President Islamic Chamber of Commerce, Industry & Agriculture (ICCIA); Sheikh Khalifa Bin Jassim Bin Mohd Al-Thani, President Chamber of Commerce and Industry of Qatar & VP ICCIA; RİFAT Hisarciklioglu, President TOBB & VP ICCIA; Alhaji Dalbatu Abubakar, President CONSCCIMA; Ali Adji Mahamat Seid, President CCIAMA and Faman Toure, President CCI-COTE D'IVOIRE.
Notably, FPCCI delegation also comprised of Karim Aziz Malik, Chairman Capital Office, FPCCI & Malik Sohail Hussain, Chairman Coordination, FPCCI.