ID :
58859
Mon, 05/04/2009 - 16:11
Auther :
Shortlink :
https://oananews.org//node/58859
The shortlink copeid
M`SIAN HALAL EXPORTS TO OIC MEMBERS TO RISE TO US$900 MLN THIS YEAR
KUALA LUMPUR, May 4 (Bernama) -- Malaysian exports of halal food products to
the Organisation of Islamic Conference (OIC) member countries, is estimated to
rise to US$900 million this year, with increasing demand.
In 2007, Malaysian exports to the OIC member countries recorded about US$640
million, the Minister of International Trade and Industry Mustapa Mohamed
said Monday.
He said among the OIC countries, Malaysia, Indonesia, Turkey and Saudi
Arabia are the four largest open economies, with a substantially large external
trade volume.
"While intra-OIC trade is still low, I am very confident that given the
higher awareness level and growing demand for halal products and services
globally, Malaysia will register a significant increase in trade in the future,"
he said in his keynote address at the opening of the Fourth World Halal Forum
(WHF) here Monday.
The WHF 2009, organised by KasehDia Sdn Bhd, is an annual forum which
gathers specialists' and experts from various industries.This year it has
attracted over 1,500 delegates.
Mustapa said the size of the halal food market for Malaysia is estimated to
be US$8.2 billion this year.
He also highlighted that trade in halal products is one of the
fastest growing business sectors in the country.
According to Mustapa, the existing market size of global halal food is huge.
"But research indicates that global trade of halal food products represents
less than 10 percent of the market.
"The current global Muslim population stands at 1.8 billion.This represents
28 percent of the total world population. However, the total global halal food
market is significantly lower at 16 percent compared to the size of the global
food market, meaning there is a significant gap.
"Among the reasons for this is that most Muslim countries, especially those
in Asia and Africa, still rely on basic and non-tradeable food products which
are largely supplied locally and not internationally traded.
"Besides that, each halal market is not similar and fragmented by
ethnicity, location, income and a few other determinants, making it difficult to
see better growth in the global halal food market," Mustapa said.
However, he pointed out that the global halal food market which is estimated
to be worth US$635 billion, had high potential not only within Muslim but also
non-Muslim countries.
He said there was a substantial increase in halal food from the non-Muslim
countries and this is reflected in the European market alone, at US$67 billion.
Mustapa added that a strong partnership and collaboration between OIC
members was needed to ensure Muslim countries benefit from the growth in the
global halal market with the gap being narrowed further. -- BERNAMA
the Organisation of Islamic Conference (OIC) member countries, is estimated to
rise to US$900 million this year, with increasing demand.
In 2007, Malaysian exports to the OIC member countries recorded about US$640
million, the Minister of International Trade and Industry Mustapa Mohamed
said Monday.
He said among the OIC countries, Malaysia, Indonesia, Turkey and Saudi
Arabia are the four largest open economies, with a substantially large external
trade volume.
"While intra-OIC trade is still low, I am very confident that given the
higher awareness level and growing demand for halal products and services
globally, Malaysia will register a significant increase in trade in the future,"
he said in his keynote address at the opening of the Fourth World Halal Forum
(WHF) here Monday.
The WHF 2009, organised by KasehDia Sdn Bhd, is an annual forum which
gathers specialists' and experts from various industries.This year it has
attracted over 1,500 delegates.
Mustapa said the size of the halal food market for Malaysia is estimated to
be US$8.2 billion this year.
He also highlighted that trade in halal products is one of the
fastest growing business sectors in the country.
According to Mustapa, the existing market size of global halal food is huge.
"But research indicates that global trade of halal food products represents
less than 10 percent of the market.
"The current global Muslim population stands at 1.8 billion.This represents
28 percent of the total world population. However, the total global halal food
market is significantly lower at 16 percent compared to the size of the global
food market, meaning there is a significant gap.
"Among the reasons for this is that most Muslim countries, especially those
in Asia and Africa, still rely on basic and non-tradeable food products which
are largely supplied locally and not internationally traded.
"Besides that, each halal market is not similar and fragmented by
ethnicity, location, income and a few other determinants, making it difficult to
see better growth in the global halal food market," Mustapa said.
However, he pointed out that the global halal food market which is estimated
to be worth US$635 billion, had high potential not only within Muslim but also
non-Muslim countries.
He said there was a substantial increase in halal food from the non-Muslim
countries and this is reflected in the European market alone, at US$67 billion.
Mustapa added that a strong partnership and collaboration between OIC
members was needed to ensure Muslim countries benefit from the growth in the
global halal market with the gap being narrowed further. -- BERNAMA
