Malaysia's Halal Exports To Grow 6 Pct This Year

KUALA LUMPUR, March 15 (Bernama) -- Malaysia's halal product exports is expected to grow six per cent this year boosted by growing demand from China and India, as well as, the lowly penetrated potential in the Gulf Cooperation Countries (GCC). International Trade and Industry Minister Mustapa Mohamed said China and India had a combined Muslim population of 193 million and last year Malaysia exported RM5.5 billion worth of halal products to both countries. "With this large Muslim population, Malaysia should export more to China and India as they have the market and the potential to develop their respective halal markets even more," he told reporters after a performance review of the halal industry for last year. Citing the example of China, he said the world's second largest economy had a potential halal market worth an estimated US$2.1 billion (US$1 = RM3.05) and it was forecast to grow by 10 per cent annually. "China imported RM4.1 billion worth of halal products from Malaysia in 2011 out of total exports of RM35.4 billion," he said. Mustapa also said the ministry was continuing to promote Malaysian halal products in the GCC. It includes promotion initiatives to Oman and Qatar which involves government agencies covering education, healthcare, information and computer technology and property development, scheduled for April. Meanwhile, Malaysia's exports of halal products jumped 53.24 per cent to RM35.4 billion last year against exports of RM23.1 billion recorded in 2010. He said halal ingredients sector lead the export with RM12.3 billion, followed by food and beverages (RM11.9 billion), palm oil derivatives (RM7 billion), industrial chemicals (RM2 billion), cosmetics and personal care (RM1.8 billion) and pharmaceuticals (RM290 million). Top five export destinations for Malaysia's halal exports were China, United States, Singapore, the Netherlands and Japan, he said. On investment, he said RM625.1 million were invested in five halal parks across the country. (US$1=RM3.02) -- BERNAMA