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MITI optimistic about achieving RM63b halal export target by 2025

MITI optimistic about achieving RM63b halal export target by 2025

12 Sep 2023

The Ministry of Investment, Trade and Industry (MITI) is optimistic about achieving halal exports of RM63 billion by 2025 based on the encouraging RM60 billion achieved last year.

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz (pix) was responding to Prime Minister Datuk Seri Anwar Ibrahim’s challenge to beat the target set via the 12th Malaysia Plan Mid-Term Review (12MP MTR).

“The Prime Minister challenged us not only to try to achieve that target but if possible to exceed the 12MP target.

“Basically, he is saying that we should aim higher,“ he told a press conference after officiating at the launch of the Global Halal Summit (GHaS) 2023 which coincided with the Malaysia International Halal Exhibition (MIHAS) 2023 today.

During the GHaS 2023 inauguration, Anwar urged MITI to focus specifically on the halal industry and to take advantage of the interest from China, Japan, South Korea and Cambodia besides outpacing the export target.

Tengku Zafrul said the global halal industry market is growing and is expected to expand to US$5 trillion by 2030. (US$1=RM4.68)

Malaysia recorded halal exports of RM40 billion before the COVID-19 pandemic.

In 2022, Malaysia’s halal exports were almost RM60 billion (RM59.46 billion) in 2022, a 64 per cent rise versus 2021.

The food and beverage category was the biggest contributor with a nearly 58 per cent rise followed by halal ingredients, cosmetics and personal care products, palm oil derivatives, chemicals and pharmaceuticals.

Source: Bernama