Prof. Dr. Vusal Gasimli, the Executive Director of the Center for Analysis of Economic Reforms and Communication met with Mr. Walid Jahangir, the Chief Executive Officer of the British Islamic Trade Association.

During the meeting, Prof. Gasimli stated that the value of the global halal food market was 2 trillion USD in 2021. By 2027, this figure is projected to reach 3.9 trillion USD. He emphasized that the "halal" economy extends beyond the food industry, covering tourism, pharmaceuticals, cosmetics, health products, hygiene products, medical devices, and even service sector components such as logistics, marketing, printing, electronic media, packaging, branding, and financing, in response to growing consumer demand. He highlighted that the global halal consumer market in the tourism sector alone was valued at 169 billion USD in 2016. By 2022, this figure was expected to rise to 283 billion USD, and growth continues in this sector. Prof. Gasimli noted that with the development of the halal economy in Azerbaijan, there is potential to attract investments and increase the export of goods and services.

Mr. Walid Jahangir, Chief Executive Officer of the British Islamic Trade Association, mentioned that the "Azerbaijan Halal Business and Tourism Forum" held in Baku plays a stimulating role in creating new opportunities in this field. He also noted that his organization could support the expansion of trade and investment relations between the United Kingdom and Azerbaijan.

The meeting also highlighted the importance of the book Economic Potential of Islamic Countries, an initiative of the Center for Analysis of Economic Reforms and Communication, involving the participation of over 75 scholars from more than 30 countries. It was noted that this book would contribute to the development of the halal economy.