Growth Momentum Of Halal Industry Must Be Sustained, Says Minister Mustapa

KUALA LUMPUR, March 30 (Bernama) -- The global halal industry's growth momentum must be continued and further built among Muslims, as well as non-Muslim countries, through collaboration and networking. Malaysian Minister of International Trade and Industry Mustapa Mohamed said the Malaysian halal agenda started 30 years ago, before getting a boost from former Prime Minister Abdullah Ahmad Badawi, who provided the momentum for its development. "This year is about globalising the halal industry which has become the talking point in not only the Muslim world, but also among non-Muslim countries," he added. Mustapa was speaking during the Ministerial panel session at the World Halal Conference here Wednesday in conjunction with the World Halal Week. He said Malaysia was strong in Islamic Finance as well as the halal food industry and needs to see beyond and broadened halal economy ecosystems. "We are now looking into halal logistics and transportation, pharmaceutical, cosmetics and the tourism industry," he added. Mustapa said the development of the halal economy was led mostly by the sizeable and growing Muslim population as well as an increase in Muslim consumer purchasing power. "The world's Muslim population is expected to increase by 35 per cent in the next 20 years, rising from 1.8 billion to 2.2 billion by 2030. "The economic growth within Muslim countries has led to an increase in disposable income, thus the need to ensure sustainability of halal food and consumer products," he added. The two-day World Halal Conference is themed, "Halal at the Forefront of Economic and Social Change". It was also attended by Abdullah who gave the welcoming remarks. --BERNAMA