Jakarta (ANTARA) – Religious Affairs Minister Yaqut Cholil Qoumas on Thursday hailed the Halal 20 (H20) Forum as a milestone in the development of the global halal ecosystem and industry as well as global halal partnerships.

“This is consistent with President Joko Widodo and Vice President Ma’ruf Amin’s vision to make Indonesia the global hub of the halal industry market and ecosystem by 2024,” he said at the H20 Forum in Semarang, Central Java.

The target of 10 million halal certifications must be achieved by the ministry’s Halal Product Assurance Agency (BPJPH) in the next three years, he stressed.

“To accelerate Indonesia’s economic recovery, we need to optimize unexplored potentials properly, such as the halal industry,” Qoumas said.

The halal industry is providing new opportunities for economic growth as it has shifted to meet global quality standards, mainstream gastronomic lifestyles, and trade trends.

He said that the BPJPH is fully supporting the Advanced Indonesia vision by committing to its mission to advance and encourage economic recovery through the development of the halal industry, which is estimated to be valued at billions of US dollars.

According to the Industry Ministry, the total value of the halal market and economic activities is projected to reach US$303 billion, while global research firm DinarStandard has estimated that the value will increase by 3.1 percent to US$2.3 trillion by 2024, the minister noted.

“These huge potentials are indeed attractive for all of us,” he said.

Meanwhile, Vice President Ma’ruf Amin said that the H20 Forum, organized under the G20 Presidency from November 17 to 19, 2022, has strategic value and is highly relevant for the global economy.

International cooperation in halal product assurance is a certainty and mutual recognition and acceptance of halal products among countries is a necessity, he underlined.

“Indonesia is committed to developing and enhancing cooperation in the global halal market with G20 countries and other export destinations, the Vice President said.

“Through our efforts, I believe the halal economy will be a reliable and reckoned economic growth motor to realize a strong and inclusive collective recovery,” he remarked.