Indonesian Political, Business & Finance News

D-8 Secretary-General Urges Members to Advance Trade and Halal Economy Innovation

| Source: ANTARA_ID Translated from Indonesian | Economy
D-8 Secretary-General Urges Members to Advance Trade and Halal Economy Innovation
Image: ANTARA_ID

Secretary-General of the D-8 (Developing Eight) organisation, Sohail Mahmood, has proposed concrete strategies regarding trade corridors and halal innovation to advance the halal economy both within the D-8 and towards the global market. “We must foster an integrated D-8 halal trade corridor, supported by the gradual harmonisation and mutual recognition of halal certification,” Secretary-General Mahmood said via video address at the D-8 Halal Expo Indonesia (HEI) 2026 in Jakarta on Wednesday. He stated that these efforts must be followed by the development of interoperable digital certification systems, customs cooperation, the simplification of trade procedures, and dedicated halal logistics corridors. The implementation of these steps, he noted, could significantly reduce costs and facilitate the faster movement of halal products and services. The D-8 Secretary-General continued that the second strategy to be pursued is working together to deepen the development of a digital halal marketplace and investment platform ecosystem that can connect producers, MSMEs, Islamic financial institutions, halal certification authorities, and buyers. “Such a vehicle can drive business interactions, investment partnerships, cross-border marketplace supply chain integration, and open market access for MSMEs, which are the backbone of our economies,” he said. As a third strategy, Mahmood called on D-8 countries to jointly optimise halal economy research and innovation through investment. Concrete forms of this innovation include the development of halal industrial zones, halal biotechnology and pharmaceuticals, artificial intelligence-based traceability systems, sustainable halal logistics, and green production. “With innovation and sustainability, the D-8 will be able to compete not only in traditional halal sectors but also in the industries of the future,” Secretary-General Mahmood said. Through these three strategies, Mahmood is optimistic that D-8 countries will be able to achieve the intra-organisation trade target of 500 billion US dollars by 2030. He also urged the D-8 to continue optimising economic cooperation to become a key driver in the global halal economy market, especially with projections that worldwide Muslim consumer spending could exceed 3.3 trillion US dollars by 2028.

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