KUALA LUMPUR: From January to September 2024, Malaysia’s halal product exports increased to RM45.04 billion compared to RM39.36 billion in the same period in 2023.
Deputy Investment, Trade and Industry Minister Liew Chin Tong said Malaysia’s ability to dominate the halal market is still constrained by the low issuance of halal certificates by the Malaysian Islamic Development Department (JAKIM).
“Early analysis carried out under Halal Industry Master Plan 2030 (HIMP 2030) estimated the global halal market to be worth RM5 trillion,” he said when winding up the debate on the Supply (Budget) Bill 2025 at the policy stage for the Ministry of Investment, Trade and Industry (MITI) in the Dewan Rakyat today.
Liew was clarifying the issue of the Halal Development Corporation Bhd (HDC) and Malaysia External Trade Development Corporation(MATRADE) merger raised by several members of Parliament from the government bloc.
He said the merger between HDC and MATRADE was justified as part of the effort to increase the export value of halal products and to seek new markets, as MARTRADE has a network of ready markets that local halal industry players can capitalise on.
“MITI believes the merger will increase the HDC-MATRADE synergy and optimise ready resources, especially to promote the halal industry to become more effective and competitive.
“At the same time, efforts to develop a local halal champion to penetrate the export market will be focused on serious industry players,” he added.
