The agreement was signed with MANAFEA, a coalition of Chambers of Makkah, Madina, Jeddah, Taif, and Islamic Chamber of Commerce, Industry and Agriculture
Staff Report
Karachi, Sindh
Pakistan has signed a partnership agreement with MANAFEA, a coalition of Saudi trade bodies including Chambers of Makkah, Madina, Jeddah, Taif, and Islamic Chamber of Commerce, Industry and Agriculture.
The agreement was signed by Mr. Atif Ikram Sheikh, President of Federation of Pakistan Chambers of Commerce & Industry (FPCCI), who led a delegation and represented Pakistan’s private sector in Makkah Halal Forum 2024.
The signing of FPCCI-MANAFEA Agreement was witnessed by Mr. Majid bin Abdullah Al Qasabi, Commerce Minister of Saudi Arabia, says a FPCCI press release issued here Thursday February 1, 2024.
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MANAFEA Partnership is a coalition of Makkah Chamber, Madina Chamber, Jeddah Chamber, Taif Chamber and Islamic Chamber of Commerce, Industry and Agriculture. “The agreement is aimed at enhancement of Pakistan’s export to OIC countries in general and Saudi Arabia in particular,” FPCCI President said.
According to FPCCI leader, the global Halal foods market size has reached a whopping $2.5 trillion. It doesn’t stop there as it will continue to grow at 13.5 percent per year for the next 10 years – resulting in an expected more than two-fold increase in the global market size to $5.8 trillion by the year 2033.
Atif Ikram Sheikh explained that Pakistan has got all what it takes to swiftly claim its share in the global Halal foods market as all food products produced in Pakistan are Halal, and no extra labor or costs will incur if we target more of that produce to exports. Interestingly, Halal foods market is growing in most of the countries – irrespective of whether Muslim or not.
FPCCI Chief said that the importance of Makkah Halal Forum is such that 120 countries and 200 major exhibitors participated in the exhibition – with the theme “Innovation in Halal Industry.” He further said that Pakistan should aim to attain at least 1 percent of the market share over the next 3 – 5 year; and, that alone can mean exports of $25 billion as per the current market size. “We cannot be left out of this humongous export potential,” he added.
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President FPCCI highlighted that tapping into GCC countries holds the key to multiplying Pakistani Halal foods exports; i.e. Saudi Arabia, UAE, Qatar, Kuwait, Bahrain and Oman; for the reason that Pakistan has very warm and brotherly relations with these countries – and, these countries are willing to help us to deal with our economic woes.
During the visit, Atif Ikram Sheikh held important meetings with Sheikh Abdullah Saleh Kamel, President Islamic Chamber of Commerce, Industry & Agriculture (ICCIA); Sheikh Khalifa Bin Jassim Bin Mohd Al-Thani, President Chamber of Commerce and Industry of Qatar & VP ICCIA; Mr. RİFAT Hisarciklioglu, President TOBB & VP ICCIA; Mr. Alhaji Dalbatu Abubakar, President CONSCCIMA; Mr. Ali Adji Mahamat Seid, President CCIAMA and Mr. Faman Toure, President CCI-COTE D’IVOIRE.
FPCCI delegation comprised of Mr. Karim Aziz Malik, Chairman Capital Office FPCCI & Malik Sohail Hussain Chairman Coordination FPCCI.
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