IsDB sees strong potential for Azerbaijan in halal value chains

Azerbaijan holds strong potential to build regional halal value chains and attract fresh investment due to its strategic geographic position and its ongoing policy of economic diversification, Samer Elesawi, Head of the Centre of Excellence of the Islamic Development Bank (IsDB) in Kuala Lumpur, said.

Speaking at a forum organised within the IsDB Group Annual Meetings in Baku, he highlighted that Azerbaijan’s well-developed transport links across multiple regions and its commitment to expanding economic opportunities create favourable conditions for strengthening its role in the global halal economy, Caliber.Az reports via local media.

He underlined that the halal economy is currently one of the fastest-expanding segments of the global market. Consumption by Muslim consumers across halal sectors is projected to surpass $3 trillion in the coming years.

"The future of the halal economy will increasingly depend on digitalization, mutual recognition of standards, the development of integrated logistics corridors, and the creation of sustainable regional value chains," he emphasised.

Elesawi also pointed out that IsDB member states have significant untapped potential to expand trade, industrial cooperation, and investment ties.

However, he noted that progress in the sector is still constrained by differences in certification systems, infrastructure limitations, and weak integration into global supply chains.

He further announced the launch of the Global Islamic Economy Programme, which will be implemented jointly with Bank Negara Malaysia, INCEIF University, and other partners, aiming to train a new generation of experts in Islamic economics and finance.

According to Elesawi, the Islamic Development Bank will continue supporting member states in advancing the halal economy through capacity-building programs, technical cooperation, and investment facilitation.

By Jeyhun Aghazada