Azerbaijan is creating favorable conditions for the halal economy, Orkhan Mammadov, Chairman of the Board of Azerbaijan's Small and Medium Business Development Agency (KOBIA), said during his speech at the Halal Forum held as part of the Islamic Development Bank (IsDB) Group Annual Meetings in Baku, APA reports.
“Azerbaijan's development of the halal ecosystem and halal economy is not only an economic opportunity, but also a strategic priority,” he stated.
According to him, Azerbaijan, located at the crossroads of Europe and Asia, serves as an important bridge connecting regional and international markets.
“Through reforms aimed at improving the business environment, supporting entrepreneurship and promoting innovation, Azerbaijan is creating favorable conditions for halal-oriented businesses and investments,” Orkhan Mammadov said.
The KOBIA chairman noted that the future of the halal economy will depend not only on the growth of markets, but also on the strength of partnerships.
He called on governments, business circles, financial institutions and other stakeholders to strengthen cooperation.
Orkhan Mammadov emphasized that Islamic finance, based on ethical principles, risk-sharing and real economic activity, can play an important role in the development of halal businesses, particularly small and medium-sized enterprises.
In his view, strengthening cooperation between participants in the halal industry and Islamic financial institutions will contribute to mobilizing investments, expanding trade and creating new opportunities for sustainable economic growth in member countries.
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