KUALA LUMPUR, Sept 9 (Bernama) — Malaysia expects the processed halal food and beverages industry to achieve a double-digit export figure next year from the RM8.2 billion recorded in 2010.
International Trade and Industry Minister Datuk Seri Mustapa Mohamed said existing and new local entrepreneurs must exploit and utilise the growing appetite of the halal industry, to accelerate further the performance of export production in line with growing demand.
The United States, China, Pakistan, Japan and Singapore are the major export destinations for local halal products.
The minister who was optimistic of the halal industry’ growth potential said the double-digit figure can be achieved with the increasing strategies on the local front, such as the country’s biggest halal expo, Halal Fiesta Malaysia (HALFEST) 2011 in October, the Malaysia International Halal Showcase and other continuous initiatives by the government.
“The RM8.2 billion is a small number and we need to improve further to be a significant player in the halal global market.
“Malaysia, with the best halal eco-system in the world, including the full focus on the non-food sector development coupled with expertise and experience in the industry, are more reasons for players to seize opportunities available,” he told a press conference after the HALFEST pre-launch ceremony, here today.
Mustapa said local entrepreneurs must change the unhealthy perceptions of Malaysia and perform better than companies in Thailand, Brazil and Australia.
Earlier in his speech, he said expos such as HALFEST will assist local companies to strengthen product branding and halal services offered.
This will directly lead to more local companies being able to penetrate the global halal market.
HALFEST will also be a platform for multinational companies to gauge the ability of local companies and their products.
The global halal market is estimated to be worth more than US$2.3 trillion annually.