The Sultanate of Oman is strategically positioning itself within the burgeoning global halal economy, and its participation in the 10th Organisation of Islamic Cooperation (OIC) Halal Expo in Istanbul, from November 26th to 29th, is a prime example of this commitment. Led by H.E. Ibtisam bint Ahmed Al-Farooji, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Investment Promotion, this initiative underscores Oman’s ambition to become a significant player in international halal trade and investment. With a focus on diversification and long-term economic growth aligned with Oman Vision 2040, this Expo presents a vital platform for forging new partnerships and expanding market access.
Oman at the Forefront of the Global Halal Expo
The 10th OIC Halal Expo is one of the world’s most extensive gatherings dedicated to halal products and services. This year’s event, held at the Istanbul Expo Center, anticipates bringing together more than 80 countries, encompassing government officials, industry leaders, investors and entrepreneurs. It’s a critical nexus for those seeking to capitalize on the increasing demand for halal-compliant goods globally.
Oman’s presence at the Expo isn’t merely about showcasing existing capabilities; it’s about actively seeking opportunities to integrate further into the global halal supply chain. The delegation will be highlighting the nation’s increasingly competitive investment landscape and the promising potential within key sectors. These include the rapidly growing halal food industry, the pharmaceutical sector, innovative food technology, and the crucial supporting infrastructure of halal-linked logistics services.
Key Sectors Driving Oman’s Halal Growth
Several sectors are poised for significant growth within Oman’s halal strategy.
- Halal Food Industry: Oman is investing in modernizing its food processing facilities and ensuring full compliance with international halal standards. This includes supporting local producers to access global markets.
- Pharmaceuticals: The demand for halal pharmaceuticals is rising, and Oman is actively attracting investment in this area, focusing on research, development, and manufacturing.
- Food Technology: Innovation in food processing and packaging, particularly with halal considerations, is a key focus. This includes exploring technologies to enhance traceability and authenticity.
- Halal Logistics: Establishing a robust and reliable halal logistics network is essential for efficient trade. Oman’s strategic location and port infrastructure make it an ideal hub for this purpose.
Strengthening Bilateral Ties with Türkiye Through Investment
A significant component of Oman’s participation involves fostering closer economic ties with Türkiye. Invest Oman, representing the Ministry of Commerce, Industry and Investment Promotion, will host the “Advantage Oman – Turkiye Business Dialogue.” This exclusive session will gather senior business leaders and executives from over 30 prominent Turkish companies.
The dialogue will center on identifying priority economic sectors and key investment pillars that can enhance bilateral trade. This targeted approach aims to move beyond general discussions and facilitate concrete collaborations. The forum will provide a direct line of communication between Omani and Turkish businesses, encouraging open discussion and the exploration of new collaborative ventures.
Oman’s delegation will present a compelling case for investment, emphasizing the country’s strategic geographic advantages, its long-term economic stability, the substantial ongoing development projects, and the attractive incentives offered to foreign investors. This includes a focus on ease of doing business and a supportive regulatory environment.
Oman’s Vision for a Diversified Economy and the Halal Market
H.E. Ibtisam bint Ahmed Al-Farooji emphasized the strategic importance of this Expo, stating that it “reflects ongoing efforts to establish Oman as a key player in the global halal economy.” She highlighted the accelerating growth of the halal market worldwide and its alignment with Oman Vision 2040, a national plan focused on diversifying the economy and achieving sustainable development.
Furthermore, H.E. Al-Farooji underscored the strong relationship between Oman and Türkiye, noting that “bilateral trade has expanded steadily, supported by existing agreements and cooperation frameworks.” She specifically identified the halal sector as a particularly promising area for collaboration, given the advanced regulatory standards and industrial capabilities present in both nations. This collaboration extends beyond trade, encompassing knowledge sharing and the development of best practices in halal certification and quality control.
A Strategic Step Towards Global Halal Leadership
Oman’s participation in the 10th OIC Halal Expo represents a significant step forward in its journey to become a leading force in the global halal economy. By actively seeking investment, forging strategic partnerships, and promoting its competitive advantages, Oman is positioning itself to capitalize on the growing demand for halal products and services.
This proactive approach will not only expand access to new export markets but also elevate the competitiveness of Omani businesses across international value chains. The focus on Islamic finance and its role in supporting halal businesses is also expected to be a key discussion point during the Expo. Ultimately, Oman’s commitment to the halal economy is a testament to its forward-thinking vision and its dedication to building a diversified and sustainable future.
To learn more about investment opportunities in Oman and its halal sector initiatives, visit the Invest Oman website or contact the Ministry of Commerce, Industry and Investment Promotion directly. This Expo is a crucial event for anyone looking to engage with the dynamic and rapidly expanding world of halal trade and investment.
