The Saudi Export Development Authority (SEDA) and the Halal Products Development Company (HPDC), which is wholly owned by the Public Investment Fund (PIF), agreed on strategic cooperation to launch a program to facilitate the entry of national companies into the global halal market. According to the Statica data site, Muslims around the world spent about two trillion dollars during 2021 in sectors related to halal products, most notably: food, medicine, cosmetics, fashion, and others. The amount is estimated to reach $2.8 trillion by 2025.