Pakistan hosted 1st Halal Sector Development meeting on 27-28 April 2015 in Islamabad with the theme of ‘Harmonizing Halal Standard-Let’s do it together’. Participants from Bangladesh, Indonesia, Iran, Malaysia, Pakistan and Turkey attended the meeting. This meeting laid tangible foundation for D-8 Halal Sector cooperation and explored the potential of Halal market.

The meeting was inaugurated by Hon. Mr. Rana Tanwer Hussain, Minister of Science and Technology of Pakistan. In his key note address, Mr. Hussain mentioned the potential of the Halal industry. 

The 1st meeting would make strategic assessment and analysis with particular emphasis on harmonization of halal standards, halal certification toward Mutual Recognition Agreement among the D-8 Member States. The D-8 Member States would also develop database on halal products, standard codes and commercialize halal products among the D-8 Member States and for the global market. 

The two-day meeting includes discussion, presentation of the country report, sharing of experiences and best practices among the D-8 Member States. Among other strategies in harmonizing the Halal Standard, the meeting is expected to adopt Halal Standard of the OIC Countries as a guideline for the D-8 Member States. 

The global Halal industry is estimated to be worth around USD 2.3 trillion (excluding Islamic finance) by the end of 2014. Growing at an estimated annual rate of 20%, the industry is valued at about USD 560 billion a year, making it one of the fastest growing consumer segments in the world.