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Expanding companies’ presence in the global halal market

admin2022-09-155

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Standard Chartered Saadiq Malaysia executive director and Islamic corporate, commercial and institutional banking head Bilal Parvaiz

JOHOR BARU: Malaysian companies should target a global market, instead of just focusing on Muslim countries when it comes to exporting halal products, said Standard Chartered Saadiq Malaysia executive director and Islamic corporate, commercial and institutional banking head Bilal Parvaiz (pic)during a recent panel discussion.

Entitled Halal Export Opportunities, the panel discussion was held during the Excellence Export Awards (EEA) Johor Roadshow, held in Johor Baru.

The companies including the small and medium enterprises (SMEs) need to work closely with the relevant agencies to expand their presence in the global halal market, he said.

“Malaysia has the right ecosystem to emerge as the world’s leader in the halal market,’’ Bilal said.

He said local companies should not miss the opportunity, as the growth prospects in the halal global market were huge, estimated at about US$2 trillion (RM8.86 trillion).

Bilal said Malaysia has done well in the halal market and the country should continue to put in more efforts to elevate its competitiveness in the global halal market.

“Local companies including SMEs and micro-enterprises should embark on the halal journey to further strengthen our country’s position in the world’s halal market,’’ he said.

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Bilal was one of the three panellists during the panel discussion. The others were Halal Development Corp (HDC) halal event management division senior manager Faridah Ali and Guan Chong Bhd quality assurance manager Amy Woong.

The session was moderated by Malaysia External Trade Development Corp customised section transformation and digital trade division deputy director Muhd Shahrulmiza Zakaria.

Faridah advised local businesses and companies to expand their presence in the halal market and not solely depend on the domestic market. She said apart from looking at Muslim countries, demand for halal products and services from non-Muslim countries are also growing over the years.

“China, Indonesia, Japan and Singapore offered good halal business opportunities for local halal exporters apart from the Middle Eastern countries,’’ said Faridah.

She said exporters should not limit themselves to only food, as there are other products where halal requirements could be applied.

Faridah said among halal-certified products include cosmetics and personal care, pharmaceuticals, health supplements, as well as logistic and warehousing services where there is no mixture of halal and non-halal products.

“Many countries are looking at our halal success story and we should not rest on our laurels and have to be steps ahead against our rivals,’’ she said.

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