Aurangzeb, SG ICCD discuss halal markets

ISLAMABAD: Federal Minister for Finance and Revenue, Muhammad Aurangzeb, held a meeting with HE Shaikh Yousef Hassan Khalawi, Secretary-General, Islamic Chamber of Commerce and Development (ICCD), to discuss opportunities for economic cooperation, halal markets, Islamic finance and broader private-sector cooperation.

He was accompanied by Muhammad Atif Hanif, CEO, Al Baraka Bank Pakistan, and Ms Aalia Jaffar, Director, International Relations of ICCD.

The Finance Minister welcomed the participants and underscored the importance of strengthening linkages between Pakistan’s business community and international business networks. He highlighted the potential for greater engagement and collaboration through the Chamber’s global outreach and platforms.

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Khalawi briefed the Finance Minister on the expanding international outreach of the Islamic Chamber and its engagement with business communities, including those in non-OIC countries. He highlighted the Chamber’s efforts to connect Muslim business communities globally with private-sector and institutional partners and promote greater halal economic cooperation.

The meeting discussed the growing global halal economy and opportunities for Pakistan to strengthen its presence across sectors including halal food, fashion, halal tourism, services and other consumer markets.

The Finance Minister emphasized the importance of moving beyond a broad halal concept towards identifying specific products, sectors and markets where Pakistani businesses can expand and capitalize on emerging opportunities.

The participants also discussed opportunities to strengthen Pakistan’s Islamic finance ecosystem and promote greater collaboration with international platforms working in Islamic economics and finance.

The importance of developing commercially viable opportunities and improving market linkages for Pakistani businesses was highlighted.

Khalawi shared international experiences in halal business development, sustainable tourism and Islamic economic cooperation. He emphasized the importance of identifying sector-specific opportunities, understanding international market demand and supporting businesses in developing commercially viable offerings.

The participants also exchanged views on international conferences, business forums and other platforms, with the active role of ICCD, to strengthen connections between Pakistani businesses and global business communities and facilitate greater exchange of ideas and opportunities.

Senator Muhammad Aurangzeb appreciated the Islamic Chamber’s engagement with Pakistan and emphasized the importance of continued interaction with the business community to identify practical opportunities for collaboration. He also encouraged greater connectivity between Pakistani businesses and international business networks facilitated by the Chamber.

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