The second International Halal Fair and Forum has opened in Tehran, with more than 75 domestic and foreign firms showcasing their halal products.

The four-day event was inaugurated on Saturday at Tehran's Permanent Fairgrounds, IRNA reported.

Representatives of companies from many countries, such as Indonesia, Malaysia, and Canada, are participating in the exhibition.

Addressing the inaugural ceremony, the chairman of the Iranian Chamber of Commerce, Industry and Mines, Mohammad Nahavandian, said the halal trademark is not limited to foodstuffs and it has been seriously followed in medicinal and hygienic products as well as services such as banking and tourism.

He also called for a unified standard for halal products and noted that it could be a sign of economic cooperation among Muslim states.

"In the current financial crisis, Islamic banking institutions suffered the least, which proves the success of Islamic tenets in the banking sector," he added.

Nahavandian also said that there are currently many halal restaurants and shops in most Western countries.

Iran's exports of halal products were valued at $820 million in the previous Iranian calendar year (March 21, 2009- March 20,2010). The trade in halal foodstuffs in 2009 was worth $1.83 trillion.

Halal means lawful or legal in Arabic, and it is a term designating any object which is permissible to use or any action allowable according to Islamic law.

The term is applied to many facets of life, and one of the most common uses is in reference to meat products, foodstuffs, and pharmaceuticals.