(TBTCO) – The Middle East market currently has great demand for Halal products (for Muslims), especially agricultural products. Muslims’ spending on food is about 1,400 billion USD. This is an opportunity for Vietnamese businesses to exploit this potential market segment.
Great opportunity for Vietnamese Halal products
At the conference Potential to promote Hala agricultural products into the Middle East market taking place on the afternoon of July 12, 2024, Ms. Nguyen Minh Phuong – Head of West Asia and Africa Department, Asia – Africa Market Department, The Ministry of Industry and Trade said that this is a market with great potential for Vietnamese goods and products.

According to statistics, Muslims’ annual spending on food is about 1,400 billion USD; The total Halal food trade turnover of OIC member countries is 444.7 billion USD.
On the other hand, the food processing industry of Middle East – African countries is underdeveloped, many processed products serving the needs of people in this region are mainly from imported sources. Therefore, the Halal product market is very potential for Vietnamese businesses to exploit.
Mr. Tran Trong Kim – First Secretary, in charge of the Vietnam Trade Office in Saudi Arabia, said that due to difficulties in agricultural cultivation, Saudi Arabia has a need to import over 90% of agricultural products. Goods such as: rice, fresh vegetables, fruits, nuts, spices; fresh and canned seafood… Other products in the fields of construction, textiles, spare parts for vehicles, furniture, charcoal, agarwood… are also in great demand.
Support businesses to take advantage of opportunities to enter the Halal market
At the seminar, from a business perspective, Mr. Le Chau Hai Vu – Consulting expert on building Halal food quality, Director of Consultech Joint Stock Company emphasized that the first thing when a business wants to exploit the product market is Halal means you need to learn and research carefully about the characteristics of Halal products and the market for these products (carefully learn about market trends, consumer preferences, competitors…).

When developing plans to produce and supply Halal products to the Middle East market, businesses need to have a production process that ensures Halal conditions and standards. Besides, it is necessary to invest in building a methodical business and marketing strategy, suitable for the market…
Contributing further comments, the representative of the Vietnam Trade Office in Saudi Arabia said that businesses should join trade promotion delegations to the area to bring samples and trial goods to promote, directly connect, and use. Corporate products as foreign gifts.
Besides, the current trend is that Saudi Arabia is moving towards a green, healthy life and sustainable environmental development. Organic, environmentally friendly products are beginning to be highly appreciated and will be in demand in the near future. Enterprises need to research production in this direction to increase export value./.