MANILA: Philippine companies have secured $100 million in deals at this year’s Saudi Halal Expo in Riyadh, the Department of Trade and Industry said on Friday, marking a milestone in the country’s efforts to tap into the global halal market.
The annual Saudi International Halal Expo was held in Riyadh from Oct. 28 to 30, providing a platform for stakeholders from across the world to see and showcase the latest innovations, research and developments in the global halal market.
The Philippine delegation to the fair was led by the DTI, with exhibitors presenting products that including fruit, food and beverages, as well as supplement sectors to tourism, travel and finance.
The $100 million in deals was achieved from the “participation of Philippine exporters at the Saudi Halal Expo 2024 and B2B (business-to-business) meetings,” Aleem Guiapal, who leads the DTI’s halal industry taskforce, told Arab News.
“Seafood, pre-cooked halal (meals) were the top products.”
One of the main drivers of the success were the more than a million Filipino expats living and working in Saudi Arabia.
“The presence of the overseas Filipino workers in the Middle East is a captured market for Filipino halal products,” he said. “Institutional buyers such as supermarkets and industries also see the value of Filipino ingenuity in our products and cuisine.”
The 64-member Philippine delegation that took part in the expo and business meetings included 12 Filipino companies. They showcased their products under “Halal-friendly Philippines” – a government umbrella brand promoting the country as a halal market hub in the Asia-Pacific region.
The Philippine government welcomed the achievement as proof of the country’s growing international reputation as a provider of halal-certified products and services.
“This success reflects the Philippines’ strategic vision under Bagong Pilipinas to establish a strong and sustainable halal ecosystem that meets global demand,” the DTI’s Secretary Cristina A. Roque said in a statement.
“It is also a testament to the collective efforts of our industries and the government to drive business growth, attract international investments, and create meaningful job opportunities for Filipinos and the global halal community.”
The predominantly Catholic Philippines – where Muslims constitute about 10 percent of the almost 120 million population – has been making efforts to tap into the global halal market, which is estimated to be worth more than $7 trillion.
By increasing its presence and doubling the number of its halal-certified products and services, the Philippine government plans to raise $4 billion in investments and generate about 120,000 jobs by 2028.
