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Halal lifestyle figures high at Kazan Summit

"Halal Lifestyle" figures high during the Kazan Russian-Islamic World Summit which kicked off on Thursday.

The aim of the Kazan Summit is to strengthen trade and economic, scientific-technical, social and cultural ties between Russia and of the Organization of Islamic Cooperation member countries.

The summit is one of the leading international economic events of the Russian Federation and the Organization of Islamic Cooperation (OIC).

Within the framework of the three-day summit, the Russia Halal Expo - Russia’s biggest annual international show of Halal products – is due to open on Thursday. 

Organizers expect more than 3,000 guests. Exhibitors will represent Russia, Malaysia, the UAE, Iran, Egypt, Afghanistan, Pakistan, Kazakhstan, Kyrgyzstan, Uzbekistan and Belarus.

The global Islamic spending in the halal food and beverage sector recorded $1.24 trillion in 2016 at a 6.2% rise in comparison with the previous year. This represented 17% of total international spending on the food sector. Spending is predicted to witness an uptick to reach $1.93 trillion by 2022 with compound annual growth rate of 7.6% in comparison with 2016. This represented about 18.7% of the total global food market. 

The Economist research unit forecast the total halal food imports of the Gulf Cooperation Council to climb $ 1.53 billion by 2020. The UAE alone imports recorded about $8.4 billion.

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