Chairman United Business Group in the Federation of Pakistan Chamber of Commerce and Industry Shahzad Ali Mali on Sunday urged the government to encourage the adoption of advanced technologies such as block chain and the internet of things (IoT) when developing halal economy master plans.
With higher level of halal trade, the halal economy is poised to become more integrated with global trade and supply chains, which will swell to $5 trillion by 2030 from $2.30 trillion a couple of years ago, he added , while talking to a delegation of industrialists and traders.
The delegation led by Muhammad Umar from called on him and discussed areas to enhance halal food production and it exports from the country, said a press release. Shahzad Ali said the halal economy is witnessing an upward trend as the demand for halal products from Muslim and non-Muslim nations increases.
He said the main factors driving the halal industry are favorable population demographic, government policies and private sector initiatives. He said growing non-Muslim demand for halal foods will be driven by its association with safe and healthy eating.—APP