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BUSINESS

Malaysia cooperating with 9 countries on global halal sector development

16/08/2022 02:37 PM

KUALA LUMPUR, Aug 16 (Bernama) -- Malaysia is actively cooperating with nine countries on the development of the global halal sector, said the Ministry of International Trade and Industry (MITI).

Deputy Minister Datuk Lim Ban Hong said the countries are Vietnam, Cambodia, Indonesia, Thailand, Saudi Arabia, Russia, South Korea, Japan and Taiwan. 

“The cooperation is in the form of the development of the halal industry ecosystem framework to accelerate economic cooperation and integration between countries and connectivity between regional markets.

“It will also boost economic growth opportunities for halal products and services through expanding market access, encouraging Muslim-friendly tourism activities and promoting foreign investment into the respective countries," he said in Dewan Negara today.

He said the sharing of Malaysia's halal industry expertise is done strategically to form a more comprehensive global halal industry ecosystem, considering that the global halal industry is expected to reach  US$5 trillion (US$1=RM4.46) by 2030, based on the Halal Industry Master Plan 2030.

"MITI, through its agency, the Halal Development Corporation, promotes the halal industry as a benchmark for product quality and safety level that meets international standards, and it is not limited to markets in Muslim countries," said Lim.

He said the cooperation could promote greater transparency, information sharing, trade facilitation, economic cooperation, as well as the standardisation of international standards and regulations related to Malaysian halal certification, which would open up a wider market for the local halal industry.

Additionally, the cooperation will also promote halal products made in Malaysia and encourage more foreign investments into the halal industry, subsequently creating new job opportunities.

“This collaboration is also to identify the availability of raw materials that can be obtained in the countries involved at more competitive prices and it will also strengthen the integration of the local halal industry’s raw material supply chain.

“Development and cooperation in the halal sector with the respective countries will expand the diversity of quality halal goods and services in the global market at reasonable prices and this will have a positive impact on the world halal market, including Malaysia,” he said.

Lim added that such cooperation will also encourage technology-sharing in the manufacturing of halal products and the development of talents in the global halal industry, which would have a positive impact on the local small and medium enterprises.

He said this in reply to a question from Senator Datuk Seri Zurainah Musa on the list of countries that are cooperating with Malaysia in developing the halal industry abroad and sharing of Malaysia’s halal industry expertise with other countries.

-- BERNAMA


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