HALAL MALAYSIA WEEK TO RAKE DEALS OF MORE THAN US$1.15 BLN

KUALA LUMPUR, June 21 (Bernama) -- The Halal Malaysia Week, which will
firmly position the country as a beacon for the global halal industry is
expected to rake in deals and transactions worth more than RM3.8 billion
(US$1.15 billion), says Prime Minister Najib Razak.

He said the joint three-party effort was an excellent example of
public-private partnership initiatives to advance the halal industry to the
forefront of the global economy.

The tripartite effort is between Kasehdia Sdn Bhd, Malaysia External
Trade Development Corporation (Matrade) and the Halal Industry Development
Corporation (HDC).

"Historically, Halal Malaysia Week has been a focal point for global
industry players with deals and transactions in 2008 amounting to RM2.2 billion
(US$666 million)and increasing to RM3.23 billion (US$978 million) in 2009,"
Najib said in his keynote address at the World Halal Forum 2010 here Monday.

He said the halal stakeholders need to take stock and realistically
assess their progress in the industry to fully capitalise the enormous untapped
potential in the industry.

"We've aimed high and achieved a lot, but it is time to take stock and
realistically assess our progress in order to effectively re-evaluate our
strategies, ensuring that we're on the right track to fully capitalise on
enormous untapped potential that remains," he said.

The Prime Minister said realising the potential of the Halal industry
required a thorough understanding of all issues and challenges.

Najib said in order to overcome the major hurdles and challenges ahead, the
country and industry stakeholders must work to establish and maintain strong
strategic alliance with mainstream players.

"I foresee powerful synergies as a result of smart partnerships between
mainstream industry and Muslim organisations.

" Muslims must seize opportunities to propel themselves into higher
value-added activities and knowledge-based skills such as quality assurance and
compliance, training, management and branding," he said.

The Prime Minister also announced the publication of four modules,
comprising global halal standards, by the International Halal Integrity Alliance
(IHI), in a move to achieve a harmonised global halal industry.

He said IHI, an initiative born out from the World Halal Forum (WHF), could
establish itself as the global halal authority and may begin the process of
unifying a fragmented community.

In order to support this, halal must continue its journey towards becoming
the premium brand recognised throughout the world as a symbol of quality and
excellence, said the Prime Minister.

As such, it is imperative that best practices are incorporated by Islamic
bodies in order to be better position them and to protect the integrity of
the halal market, said Najib.

Although there are over 300 bodies globally offering halal certification,
only one-third were legally registered entities, thus creating concerns
whether these agencies are accredited in line with international benchmarks and
were capable of issuing certification based on international standards.

To address this, Malaysia would continue to offer its expertise and years of
experience in halal certification and standards development.

At the event, Najib also launched IHI's four global halal standards modules
and witnessed the exchange of memorandum of understanding documents between
Penang International Halal Hub and the Investmy International Ltd, a
consultancy company based in Yemen.

About 900 participants, including local and international industry players,
policy makers as well as academicians, have gathered at the WHF platform to
exchange ideas as well as solutions to any predicament faced in the industry.

The Halal Malaysia Week encompassed the Fifth WHF, the Third World Halal
Research Summit (June 23-25) and the Seventh Malaysia International Halal
Showcase (Mihas), which will kick off on Wednesday.
-- BERNAMA