Pakistani official: AZHAB is driving force for economic growth, trade and entrepreneurship

The Halal Business Forum held in Azerbaijan highlights the halal sector's potential as a driving force for economic growth, trade, and entrepreneurship, said Socrat Aman Rana, Director General of Pakistan's Small and Medium Enterprises Development Authority (SMEDA).

According to Report, he made the remarks during the panel discussion titled "Promoting cooperation among SME support institutions under the OIC: First meeting of the OIC SME Network," held as part of the 2nd Azerbaijan Halal Business (AZHAB) Forum.

Rana stated that the forum provides a valuable platform for knowledge sharing, standardization, and international collaboration:

"Despite over 100 million SMEs and a population of 2.1 billion across OIC member states, intra-OIC trade remains largely concentrated in the hydrocarbons sector. This highlights the urgent need for SMEs to move up the value chain, diversify, and produce higher value-added goods and services."

He emphasized that the collective goal should be to transform the OIC SME Network from a dialogue platform into a measurable, long-term catalyst for SME development across the region.

"SMEDA is working closely with partners to actively contribute to this initiative and ensure its success by expanding SME capacities and stimulating sustainable growth," he said.

According to Rana, Pakistan has around 7 million SMEs, contributing over 40% to the country"s GDP. SMEs also account for 80% of non-agricultural employment and 30% of exports.

He noted that leveraging the momentum of the OIC SME Network will help Pakistani SMEs meet international standards, access regional and global markets, and drive innovation. Through this network, Pakistan aims to gain access to reliable business data, promote knowledge and technology exchange, and ensure compliance with global standards.

"We believe it is essential to fully support the OIC SME Network and its work plan through both strategic and technical assistance," Rana concluded.