Tunisia is striving to consolidate its position as a bridge between European and African markets in the halal economy. The country's National Center for the Promotion of Exports is working to develop this sector, with approximately 40 institutions currently operating in the halal economy, up from around 20 in 2023. This growth highlights the country's potential in this area.
The National Center for the Promotion of Exports is coordinating with the Ministry of Trade and Export Development to host the Global Halal Summit in 2027, organized by the Islamic Organization for Metrology and Standards. This event is expected to further boost Tunisia's profile in the halal economy. The center's efforts aim to support Tunisian businesses in accessing new markets and increasing their exports.
The halal sector in Tunisia is currently valued at around 1.3 billion dinars, primarily driven by the food industry. However, the main challenge facing the country is facilitating access to markets, complying with specifications, and attracting buyers and investors. To address this, the FIBGN Global Business Network, a partner in organizing the forum, has proposed turning the event into a platform for dialogue between standardization institutions and certification bodies.
The global halal market is growing rapidly, with Muslim consumer spending expected to reach 3560 billion dollars by 2029, up from 2600 billion dollars in 2024. The Islamic finance sector is also expanding, valued at around 6000 billion dollars. Furthermore, the halal product market is growing at an annual rate of 6.5%, while Islamic finance is growing at over 10% and tourism at over 11%.
Trust is a crucial aspect of the halal economy, as it goes beyond simply labeling products and involves respecting commitments throughout the production and marketing chain. The FIBGN Global Business Network emphasizes the importance of developing mutual recognition of certifications to reduce barriers and enhance trust, facilitating access to markets for Tunisian businesses.
The Tunisian government is working to create an attractive environment for businesses operating in the halal sector. The country's bid to host the Global Halal Summit in 2027 is part of this effort, aiming to make Tunisia a prominent international hub for the halal economy. This move is expected to generate new opportunities for businesses, create jobs, and stimulate economic growth.
The National Center for the Promotion of Exports and the Ministry of Trade and Export Development are committed to supporting Tunisian businesses in the halal sector. By working together with international partners, they aim to increase the country's exports, improve product quality, and enhance the competitiveness of Tunisian businesses in the global halal market.
Key points
- Tunisia aims to host the Global Halal Summit in 2027 to strengthen its position in the halal economy.
- The country's halal sector is currently valued at around 1.3 billion dinars, primarily driven by the food industry.
- Muslim consumer spending is expected to reach 3560 billion dollars by 2029, driving growth in the halal market.
