Great Potential For Malaysian Halal Products In Latin America - Envoy

KUALA LUMPUR, Nov 7 (Bernama) – It is high time for Malaysia to penetrate the halal market in Latin America, with Chile as the hub, due to the high demand for halal products, said Malaysia's Ambassador to Chile, Dr Mohamad Rameez Yahaya. With its economic and political stability, Chile served as the best platform to promote halal products in that region, he said. "Islamic finance is also one of the halal system that we can offer to Latin America. Malaysia is happy to share our expertise on that matter. "As halal is for all, it is therefore our duty as Muslims to make halal products and services available to all humankind, thus making halal a global business," he said when officiating the 6th Halal Expo Latino Americana at Intercontinental Hotel, Santiago, Chile, Monday. The text of his speech was made available to Bernama Tuesday. The Embassy of Malaysia in Santiago with Malaysia External Trade Development Corporation (MATRADE) also took part in the event to expose Malaysian products as well as to disseminate information on halal issues to the Chileans to inform them of what the halal lifestyle means. The expo was organised by the Embassy of Malaysia with Chile Halal organisation from Nov 6 to 8 which saw the participation of more than 200 people and companies. Mohamad Rameez said Malaysia began its global's halal industry in 1974 when the Research Centre at the Islamic Affairs Division in the Prime Minister's Office started to issue halal certification letters for products which met the halal criteria. The efforts in promoting halal internationally was continued by introducing the Halal Industry Development Master Plan 2008-2020 which aims to drive halal as a new source of economic growth, he said. He said the Master Plan was divided into three phases; firstly to establish Malaysia as a global leader in halal integrity through improved certification process and establishment of Global Halal Support Centre and secondly to establish Malaysia as the preferred location for halal related businesses through the development of global knowledge base and global brand recognition. "The final phase is to expand the footprint of Malaysian companies into the international market. Currently, we are at the final phase. Every year, we will organise the Malaysia International Halal Showcase (MIHAS) and other halal conferences to promote halal globally," he said. Mohamad Rameez added that the global halal economy is now valued at an estimated US$2 trillion. "In 2030, the Muslim population is expected to increase to about 27 per cent of global population. This will provide huge prospects for halal industries," he said. The Global Islamic Economy Report 2015 to 2016 had forecast that the international halal and lifestyle market would be worth US$3.7 trillion by 2019, he added. -- BERNAMA