Turkey seeks to grab bigger share of halal market
Turkey is setting up a Halal Accreditation Authority in the hope of boosting sales to fellow Muslim countries.
The fast-growing halal market in the Islamic world and Western countries with sizable Muslim communities has long whetted Turkey’s appetite. Last year, then-Economy Minister Nihat Zeybekci grumbled that companies from non-Muslim countries dominated 80% of the $4 trillion global halal market, which ranges from food and cosmetics to health care, tourism and financing. This is “not acceptable,” he said, stressing that Turkey was stepping up efforts to grab a larger share of the market.
Parliament took the first step in November, passing legislation for the creation of a Halal Accreditation Authority. On July 15, President Recep Tayyip Erdogan issued a decree on how the Halal Accreditation Authority would be established, completing the legal framework for Turkey’s drive to become a leading market player with state-guaranteed halal labels.
