Abu dhabi: The Halal Trade and Marketing Centre (HTMC), an initiative of the Dubai Integrated Economic Zones Authority (DIEZ) based in Dubai Airport Freezone (DAFZ), has announced a Memorandum of Understanding with the Korea International Trade Association (KITA). This agreement is designed to assist Korean companies in entering or expanding their presence in halal markets across the UAE and the broader Middle East and Africa region.
According to Emirates News Agency, the partnership emerges amidst the swift expansion of the global Islamic economy, which reached US$2.60 trillion in 2024 and is projected to rise to US$3.56 trillion by 2029. Key sectors such as halal food, pharmaceuticals, modest fashion, tourism, and Islamic media are experiencing robust growth, spurred by increasing global demand in both Muslim and non-Muslim markets. As this trend continues, the UAE solidifies its role as a strategic gateway for halal trade, connecting global markets with opportunities across the Middle East and Africa.
The MoU outlines a collaborative effort to enhance the readiness of Korean companies to capitalize on halal market opportunities through structured advisory and mentoring programs for KITA members. These initiatives aim to aid companies in comprehending market requirements, halal certification processes, and entry frameworks, thereby bolstering their capacity to scale and expand in the region.
Additionally, the two parties will work on creating structured business matchmaking initiatives that link Korean companies with buyers, importers, distributors, retailers, and potential commercial partners throughout the GCC and wider MENA markets. This effort aims to transform opportunities into significant business partnerships.
Further collaboration areas include facilitating engagement with key stakeholders in the halal ecosystem across the region, such as accreditation bodies, regulatory authorities, specialized institutions, and industry associations. This will aid in developing a network that allows quicker market access and stronger commercial connectivity for Korean companies entering halal markets.
Amna Lootah, Director-General of Dubai Airport Freezone (DAFZ), highlighted the MoU's significance in building cooperative bridges that combine commercial expertise with halal sector knowledge. She emphasized that through the Halal Trade and Marketing Centre, the aim is to help Korean companies understand target market requirements, benefit from advisory programs, and engage with relevant stakeholders, thereby supporting their growth in regional and global halal markets.
Philjae Park, President of KITA MENA HQ, remarked on the importance of the MoU in improving Korean companies' access to halal markets in the region. By merging business matchmaking, advisory support, and institutional engagement, the partnership seeks to foster a supportive environment that enables Korean companies to capitalize on the opportunities within the halal economy and strengthen their presence in high-growth markets.
