D-8 Halal Expo 2026: Indonesia's Momentum to Lead the Global Sharia Economy

The global Islamic economy continues to show promising growth. The State of the Global Islamic Economy (SGIE) Report 2025/2026 estimates that worldwide Muslim consumer spending reached approximately US$2.4 trillion in 2024 and could rise to US$3.6 trillion by 2028. Meanwhile, the global halal market has already reached a value of around US$5.2 trillion. The Developing 8 (D-8), a group comprising Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, Turkey, and Azerbaijan, represents a market of over 1.2 billion people. With a combined GDP exceeding US$5 trillion, the D-8 possesses substantial economic capital to become a global hub for the halal industry. The bloc’s greatest potential lies not only in its market size but also in its international trade networks. Partnerships among D-8 member states are crucial for strengthening business collaboration, investment, and the halal value chain, making the organisation’s economic agenda highly relevant amid global competition in the Islamic economy. Among D-8 nations, Indonesia holds a special position. For the 2026-2027 period, Indonesia officially assumes the chairmanship of the D-8, taking over from Egypt. The pinnacle of this presidency will see Indonesia host the 12th D-8 Summit, with the D-8 Halal Expo 2026 serving as a key supporting event. As the country with the world’s largest Muslim population, Indonesia possesses strong demographic capital for developing the Islamic economy. Its sharia economic ecosystem has also grown rapidly in recent years, supported by comprehensive instruments ranging from institutional frameworks and halal certification systems to Islamic finance and philanthropic tools. As D-8 chair, Indonesia is committed to strengthening cooperation and solidarity among developing nations in the Global South to navigate global geopolitical and geo-economic dynamics. This commitment is reflected in the theme ‘Navigating Global Change: Strengthening Equality, Solidarity, and Cooperation for Shared Prosperity’. Indonesia’s chairmanship focuses on creating shared value and engaging the business community to deliver concrete, sustainable benefits for businesses and citizens across all D-8 member states. Amid current geopolitical tensions, Indonesia also views its chairmanship as a platform to promote regional conflict de-escalation and strengthen humanitarian solidarity. For Indonesia, the D-8 chairmanship is a critical momentum to accelerate its national sharia economic transformation. With all its potential and capital, Indonesia deserves to be called a natural leader of the global Islamic economy. However, this leadership must be proven and is not without challenges. The main challenge is converting potential and capital into a competitive advantage reflected in global rankings. Indonesia’s drop from third to fourth place in the SGIE 2025/2026 report serves as a reminder that great potential must be matched by increasingly competitive performance. It is in this context that the D-8 Halal Expo Indonesia 2026 becomes more than just a supporting agenda for the summit. Indonesia can use this event to expand business networks, open investment opportunities, and strengthen halal product exports. This momentum is crucial for enhancing Indonesia’s competitiveness in the global Islamic economy.