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March 13, 2020

PCJCCI organises seminar

Business

March 13, 2020

LAHORE: Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) President Zarak Khan said China, considered the world’s manufacturing hub was seeking to expand its participation in the growing halal food sector.

He was speaking at a seminar on “Coronavirus magnifies Halal Food Potential in China”, organised by the Halal Research Council under its nationwide awareness road show on halal industry on Thursday,.

“The Chinese government sought to improve trade with Organization of Islamic Cooperation countries through its ‘One Belt One Road’ initiative,” he said.

Keynote speakers for the session food technologist Nighat Jawwad highlighted the emerging situation after coronavirus and how this challenging crisis has offered new opportunities for Pakistan.

On account of the aforementioned factors, the global halal food market size was anticipated to expand at a CAGR (compound annual growth rate) of nearly 11 percent during 2020-2024. “Private sector can substantially capture the floating opportunities with the government support in removing the existing barriers,” she added.

Qarshi Research International Business Development Manager Awais Ali pointed out that Pakistan having the most significant geography on the globe has enormous potential for halal trade. “Pakistan is among the most recognised Muslim country, and even the product exhibiting ‘Made in Pakistan’ has an impression in the consumer’s mind that the product is halal.”

Also taking CPEC into account, Pakistan’s access to global market was getting easier and wider, which also has a large impact in the supply chain for halal trade.