Pandemic-Hit Halal Trade May Recover By 2022 - Turkish Accreditation Agency
Halal trade has slowed down due to travel restrictions and weaker demand caused by lower income amid the COVID-19 pandemic, Turkish Halal Accreditation Agency's Chairman of Board Zafer Soylu told Sputnik, adding that the relative recovery of the sector may be seen by 2022
MOSCOW (UrduPoint News / Sputnik - 30th July, 2021) Halal trade has slowed down due to travel restrictions and weaker demand caused by lower income amid the COVID-19 pandemic, Turkish Halal Accreditation Agency's Chairman of board Zafer Soylu told Sputnik, adding that the relative recovery of the sector may be seen by 2022.
"Halal trade - a more specific field of trade - slowed down in 2020 mainly caused by weaker demand originating from loss of income and strict travel restrictions. Lower income has directly hit the Primary consumption including halal food and had also spill-over effects on other sectors," Soylu said.
Lockdowns and suspension of movements have resulted in a sharp decline in halal tourism activities and subsequently, in revenues, he noted.
"During the lockdowns, weak demand and declining income deteriorate the short-term outlook of halal trade, the coronavirus which first originated from certain animal species, will contribute to underline the universal status of halal and to raise the importance of consuming halal and hygienic products in the medium and long term," he explained.
Soylu suggested that the moderate expansion of halal trade following the COVID-19 pandemic will be seen in 2021 and 2022, he concluded.
When asked about the prospects of halal trade and industry in Russia, Soylu replied that the country has a substantial potential for becoming a key-actor in the halal certified product and service market due to its "dense Muslim population, as well as an important global food supplier."
"Russia... has the opportunity to follow the current issues and developments regarding halal quality infrastructure, namely halal standardization, certification and accreditation system, in this biggest and most important institution and platform of the world in this area," he added.
So, the agency seeks cooperation with Russia to ensure reliable cooperation, he said.
"In this context, we attach great importance to Russia's production capacity to meet the demand of halal certified products by Russian Muslims and other communities of the export markets of Russia. For this reason, we aim to increase our cooperation with Russia in the field of halal quality infrastructure," he explained.