The New Nation - Internet Edition

MALAYSIA will hold a week-long exhibition on 'halal' products in Dhaka in July next as the brotherly country finds a 'huge prospect' for the business in Bangladesh. Malaysian deputy secretary general of the ministry of entrepreneur and cooperative said this during his recent visit to Dhaka and spelt out the exhibition plan. In this regard, he said Malaysia is promoting food business in Muslim and non-Muslim countries across the world as halal foods are hygienic and clean from both religious and material points of view. Malaysia and Bangladesh can go ahead together for further promoting the business of halal food worldwide. The visitor from Kuala Lumpur said his country wants to work with Bangladesh as Malaysia has a plan to set up joint venture plants here and produce halal products for export to the global market.

Three Malaysian and two Bangladeshi firms have already signed memorandum of understanding to launch the business under joint venture for halal food production and marketing. There is a US$ 2.1 trillion global market for halal food, which is 12 per cent of the global US$ 2.1 trillion agro-food products. The halal food trade was estimated at US $ 580 billion a year ago. 'The Halal Industry Development Corporation' was set up by the Malaysian Government with a view to meeting the growing demand of halal products at home and abroad. Malaysia's ambition of becoming a world halal hub has already been fulfilled. More consumers are purchasing halal food because it is 'healthy food option which is being monitored and audited in a way than other food is not. To set up a halal food industry, it needs halal certification that exists in Malaysia, which through undertaking joint ventures can help Bangladesh diversify its export basket by producing halal food products effectively in the highly competitive world today.