Global halal economy expected to reach RM22.34t by 2030
09 Nov 2022
The global halal economy is estimated to reach US$4.96 trillion (RM22.34 trillion) by 2030, said Malaysia External Trade Development Corporation (Matrade) chief executive officer Datuk Mohd Mustafa Abdul Aziz.
Mohd Mustafa said considerations for the halal economy are reflected in the proposed Budget 2023, including an allocation to promote halal products in the global market via the Malaysia Services and Halal programme, and development initiatives to raise halal certification compliance and innovation.
“Leveraging on our 46 overseas offices, Matrade has primed the International Sourcing Programme (INSP) during the 18th edition of the Malaysia International Halal Showcase (MIHAS 2022) to connect Malaysian exporters and international buyers where high-value trade deals were closed.
“The physical event was conducted on Sept 6, 2022, whereas the virtual INSP was extended to Nov 15, 2022 due to an overwhelming response,” he said in a statement today.
Mohd Mustafa said Matrade is ready to help more businesses realise the vast opportunities available in international markets and make a move to capitalise on them.
Hosting exhibitors from over 30 countries and trade visitors physically and virtually, MIHAS, organised by Matrade, draws on its synergies with industry heavyweights to offer key lessons and tips to encourage more Malaysian enterprises to start exporting, such as Fraser & Neave Holdings Bhd (F&N).
Drawing from personal experience, export giant F&N encouraged businesses to work with relevant government agencies such as Matrade and participate in exhibitions such as MIHAS, Gulf Food and French trade fair and the Salon International de I’Alimentation for a greater level of exposure and promotion for respective brands, said the statement.
Matrade said F&N also encouraged small and medium enterprises to set a higher vision and target to propel themselves further in the export market.