US economist says Halal products has very good future, must ...| MENAFN.COM

Friday, 03 February 2023 05:24 GMT

US economist says Halal products has very good future, must be expanded


(MENAFN) The economy around halal goods -- those meeting Islamic standards -- has a very bright future, as said by a US-based economist.

Most of the "halal economy" is in the economics sector, but the non-economic part should as well be grown, Mohammad Kabir Hassan, an economist at the University of New Orleans, informed Anadolu Agency.

It is a USD6-trillion worth economy but the mainstream of it is the Islamic finance -- around USD4 trillion. So, we must improve the non-economic part of the halal economy.

Halal economy is a bigger concept, covering many areas like textile, cosmetics, and medical items, he added.

Benefits of halal goods and services should be promoted to the people, he also said.

On Türkiye's position, he announced: "Turkish halal economy can be a sort of role model for the rest of the Muslim world."

He further noted Türkiye has a very expanded economy, it ships thousands of items to 200 different nations.

Türkiye has a "rich history" and a "very dynamic leader," the economist declared, adding: "Islamic world really lacks leadership, there are not really many leaders like (Turkish President Recep Tayyip) Erdogan."




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