The Philippines secured USD 100 million (approximately P5.6 billion) in business agreements during the 2024 Saudi Halal Expo in Riyadh, the Department of Trade and Industry (DTI) announced on Friday, 27 December.

The event, held from 28 to 30 October, showcased innovations and opportunities in the global halal market.

The Philippine delegation, led by the DTI, featured 12 companies promoting products ranging from seafood and pre-cooked halal meals to beverages and supplements under the “Halal-friendly Philippines” brand.

Success

According to Aleem Guiapal, head of DTI’s halal industry task force, the success of the Philippine delegation stemmed from business-to-business meetings and the strong demand for Filipino halal products.

Guiapal noted that seafood and pre-cooked halal meals were the top products, earning around USD 35 million and USD 15 million.

He added that overseas Filipino workers in the Middle East comprise a captured market for Filipino halal products.

Milestone

DTI Secretary Cristina A. Roque emphasized the milestone as proof of the Philippines’ growing stature in the halal market and the vision under Bagong Pilipinas to establish a sustainable halal ecosystem that meets global demand.

The Philippine government aims to strengthen its position in the USD 7 trillion global halal market by expanding halal-certified products and services.

It has set a target of attracting USD 4 billion in investments and creating 120,000 jobs by 2028.