Making Malaysia a halal hub
The May/June issue of TradeMart talks about all things halal.
That there are significant opportunities in the global halal marketplace is an understatement. The halal business boasts enormous potential backed by a global Muslim population estimated at 1.83 billion, while halal-certified products and services are gaining increasing acceptance among non-Muslims.
Currently, the global market value for trade in halal food and non-food products is estimated at a staggering US$ 2.77 trillion (RM8.85 trillion) annually. Last year alone, exports of Malaysia’s halal products touched RM35.4 billion, up 53.2% from RM23.1 billion in 2010.
Given the encouraging figures, it is no wonder that the May/June issue of TradeMart places the spotlight on prospects in the halal trade, an area that Malaysia thrives in, with its halal certification well-accepted internationally. JAKIM, the Malaysian Islamic Development Department, has begun exporting its knowledge and expertise to countries that are seeking guidance in setting up their own halal-certification process.
There are currently 4,785 Malaysian halal-certified companies and 700 registered exporters, of whom 75% are SMEs that contributed to the world market demand. Moreover, Malaysia has 20 Halal Parks, of which nine are certified with the HALMAS certification issued by the Halal Industry Development Corporation (HDC)’s designated Halal Park Development.
Turkey is next to be highlighted in TradeMart. The Eurasian country is featured in the regular ‘Exporters’ Guide’ section as a market worth eyeing due to favourable factors such as its unsaturated market, market size of 75 million people, high growth potential and the country’s strategic location between Asia, Europe and the Middle East.
In 2011, Turkey’s conducive environment attracted Foreign Direct Investment (FDI) worth US$ 15.7 billion, a 74% increase over 2010. Today, the country is the 17th largest economy in the world with a GDP of US$ 735 billion in 2011 (seventh in Europe, first in the Middle East and fifth in Asia).
Also a good read is the column on halal product management system provided by AJA EQS Certification (M) Sdn Bhd. Today, halal food certification refers to the examination of food processes in its preparation, slaughtering, cleaning, processing, handling, disinfecting, storing, transportation and management practices.
‘In a nutshell, the application of halal should be applied to all stages of processing, ie, from farm to table,’ AJA EQS Certification points out.
A bi-monthly publication of Matrade, TradeMart is tailor-made to meet the needs of local exporters who are constantly on the move by providing information that matters most to the international trading community, including useful business tips in an easy-to-read format.
TradeMart is made available at MATRADE’s five regional offices (Penang, Terengganu, Johor, Sabah, and Sarawak) and 43 worldwide offices. The newsletter is produced by Berita Publishing Sdn Bhd.
By Cheah Chor Soo
01 July 2012