Lootah said in a statement: “The proposed centre will undertake required tests for Halal food and other products to ensure that all such products are free from any chemical or artificial additions which are not complying with the Islamic Law, with the aim to be the first international reference in the food industry worldwide.”
Mesmar added: “The move is expected to boost the business activities of Dubai as it comes in the most wanted context in both local and global levels.”
“Due to the increased activities of food trade and other products, Dubai can serve the entire world as an authorized centre to issue Halal Food compliance certificates and accredit other products such as medicine, leather, cosmetics,” he said.
The Islamic economy is estimated to be worth $2trn and increasing about 20-25 percent annually, according to Thomson Reuters.
The Islamic population of 1.6bn is growing at about twice the global rate and is the youngest in the world.
Muslims also mostly live in emerging economies and are becoming one of the most significant consumer groups globally, with total disposable income estimated to be $4.8tr in 2012.
Source: Arabian Business