Iran seeks to tap into vast CIS halal, auto market

Iran will showcase its production capabilities in more than 15 industries at the largest exhibition of the Commonwealth of Independent States (CIS) which will be held Turkmenistan in early February.
Publish date : Sunday 24 December 2017 11:21
Code: 301184

The international industry fair, Motor Show, and the international Halal Expo will run from January 31 to February 2, 2018 at the Ashgabat Expo Center.

The line-up will include high-level conferences where expert advisors from around the world will offer quality advice and discuss new global market opportunities.

Hundreds of producers and businessmen will be attending the fair from Russia, Ukraine, Belarus, Turkmenistan, Azerbaijan, Serbia, Bosnia, the UAE, Nigeria, Canada, Belgium, China, Afghanistan, Pakistan and Turkey.

Iranian producers active in the fields of oil, gas, petrochemicals, construction, water and sewerage, energy, textiles and leather, the automotive industry, heavy industries, and complementary industries will present their capabilities.

The Motor Show will host businesses from the automotive industry, spare parts and rail industry, providing an opportunity for Iran to display its production capabilities.

Iran’s auto industry is the Middle East’s largest and Iranian automakers now design, manufacture, and export cars. They also manufacture automotive parts and components and sell their products through dealers in Iran and internationally.

The halal market is another area featured at the fair trying to tap an important growth sector which has transcended the food industry to also include banking, insurance, finance, logistics and tourism.
The global halal industry is estimated to be worth more than $2 trillion, including a $1 trillion food market which is expanding.  

A growing middle-class Muslim population plus rising demand from non-Muslim nations have sparked a race among many countries to scrape a niche in the halal market.

Major Muslim countries from Malaysia, Indonesia, Brunei, Turkey and Pakistan to non-Muslim nations such as Japan, New Zealand and the UK are jockeying for position.

Turkmenistan is one of the developing countries in the Caucasus region and is an overwhelmingly Muslim country with a huge need for halal products and services.

According to existing statistics, trade between Iran and Turkmenistan has grown steadily over the past 10 years, excluding a drop in 2015.

Common borders between Iran and Turkmenistan and the low cost of transportation have helped the two countries expand their business and trade ties.

Iran’s exports to Turkmenistan hit $547 million in 2016, which were the biggest to CIS members, making the Islamic Republic third largest exporter to the Central Asian country.