Azerbaijan has emerged as a significant player in the halal tourism sector, ranking 20th out of 145 halal tourism destinations worldwide this year, Irshad A. Cader, the CEO of Australia's Globothink Halal Industry Consultants said at the Halal Business and Tourism Forum (AZHAB Forum) held in Baku, Report informs.

Cader highlighted the crucial role of small and medium enterprises (SMEs) in Azerbaijan's economy, stating, "More than 99% of entrepreneurs in Azerbaijan are SMEs, with approximately 97.3% being micro, 1.9% small, and 0.8% medium-sized enterprises. SMEs operate in various sectors, including trade, agriculture, construction, logistics, tourism, and others. The transformation of SMEs is envisioned within the framework of 'Azerbaijan 2030: National Priorities for Socio-Economic Development'."

The CEO believes that the halal industry is a rapidly growing sector worldwide, with small and medium-sized businesses being one of the most important economic actors.

"They play a key role in the production of halal products and services, meeting consumer demands, and ensuring economic growth. The development and strengthening of SMEs are critical for ensuring the sustainable growth of the halal sector in the global economy," he added.