M'SIA TO ASSIST BOSNIA DEVELOP ITS HALAL PARK

KUALA LUMPUR, May 4 (Bernama) -- Malaysia will assist Bosnia Herzegovina in developing its first halal park in the country, which will be a halal products and services trade centre in the country, Halal Industry Development Corporation (HDC) chief executive officer, Jamil Bidin, said.

Jamil said through a memorandum of understanding signed Monday, HDC will
also assist Bosnia in developing its own halal standards for proper halal
certification issuance.

"We will supervise the development of Bosnia's halal standard and train
their officers in halal certification issuance as well as facilitate bilateral
trade between two countries," he said in a media briefing here at the opening of
the Fourth World Halal Forum 2009, Monday.

The 20-hectare halal park, to be located in the northeast of the
country, Gracanica, will be managed by the Sirbegovic Group, a well known
construction group in the country.

The group will invest about 100 million euro (1 euro = RM4.72) to develop
the park.

Jamil said there were plenty of opportunities for Malaysian companies to tap
the Bosnian market as it could serve as a gateway to European countries
especially when it achieves the EU membership within the next five years.

Sirbegovic Group president, Faruk Sirbegovic, said the halal market size in
Bosnia was five billion euro annually, adding that the free trade agreement with
European Union members would likely increase the size further.

He said there was huge demand for halal poultry, food, cosmetic, logistic
services and Islamic banking services in Bosnia Herzegonia and Malaysian
companies should see the opportunities presented.

Sirbegovic said the country had all the resources to develop the industry
but required assistance from Malaysia to implement the entire chain of halal
standard.

He said the park could generate 500 million euro per year, once it
starts operating at full capacity and will be able to reap 20 percent profit
margin. -- BERNAMA