Halal industry grows in non-Muslim countries – Malaysian min.

KUALA LUMPUR, March 30 (KUNA) — Malaysian Minister of International Trade and Industry Y. B. Dato’ Sri Mustapa Mohamed said Wednesday the Halal industry is booming in non-Muslim countries that have Muslim minorities.
Halal refers mainly to meat permissible for consumption under Sharia (Islamic law).
This industry found promising growth opportunities in countries such as Japan, South Korea, Australia, New Zealand and Brazil which have strong markets, he said in his inaugural speech to the 13th Malaysian International Halal Showcase (MIHAS-2016).
The fair, themed “Experience Halal,” is being organized by the Malaysia External Trade Development Corporation (Matrade) at the Kuala Lumpur Convention Centre (KLCC) between March 30 and April 2 as part of the World Halal Week.
The world’s trade volume of the Halal industry amounts to 8.4 trillion Malaysian ringgits (nearly USD 2.14 trillion) of which the Halal food products represent MYR 2.5 trillion or USD 637 billion, the minister said.
This industry has a bright outlook given the growing number of Muslims who are expected to account for 27 percent of the world’s population in 2030, he went on.
Regarding the Malaysian investments in this sector, he said these investments grew from MYR 4.1 billion (about USD 1.04 billion) in 2012 to MYR 10.6 billion (some USD 2.70 billion) in 2015.
The number of licensed Halal producers went up from 2,337 in 2011 to 5,726 companies in 2015, Mohamed said.
The value of Malaysia Halal exports skyrocketed from MYR 24 billion (USD 6.11 billion) in 2011 to MYR 49 billion (USD 12.48 billion) last year, the minister noted, adding that the main destinations of his country’s exports were China, Singapore, the United States, Indonesia, Japan and Thailand.
In press statements to KUNA following the opening ceremony, Mohamed said the annual event is part of his ministry’s efforts to promote the popularity of Halal products which is growing even among non-Muslims.
“As Muslims, we are required, pursuant to the teachings of the Holy Quran, to make the concept of Halal globally appealing,” he added.
MIHAS-2016 brought together representatives of 167 companies from 70 Muslim and non-Muslim countries, including 24 companies from South Africa which, alongside with Romania and Bulgaria, takes part in the annual event for the first time. (end) aab.gb