Kuala Lumpur, 7 December 2024 – The ASEAN Halal Roundtable Dialogue brought together delegates from over 10 countries to discuss the rapidly growing Halal Economy, which is projected to expand from approximately $3 trillion to $5 trillion by 2030. This market encompasses various sectors, including food and beverages, ingredients, and personal care products.
Representation and Participation
MPBC delegates had the honor of representing Pakistan, joining other chambers and business councils from across ASEAN. The Halal market serves the 1.8 billion global Muslim population, including 280 million in ASEAN, and emphasizes the importance of safe, hygienic, and nutritious products. Notably, the top five global exporters of Halal products are from non-Muslim majority countries.
Key Challenges and Initiatives
A significant challenge in serving Halal markets is establishing a governance framework to harmonize standards and logos, preventing forgery and expiration issues. As Malaysia prepares to assume the ASEAN Chairmanship in January 2025, setting up a Halal Secretariat is crucial. The dialogue explored three key areas:
- Halal Services Economy: Focusing on Halal Tourism.
- Islamic Financing: Leveraging Islamic financial products to accelerate business growth.
- AI Integration: Incorporating AI-related startups within the Halal Economy.
Outcomes and Future Steps
The dialogue highlighted the importance of harmonizing Halal standards globally and establishing an ASEAN Halal Economy Secretariat to provide leadership, simplify processes, and create a governance framework. With international travel to ASEAN member states exceeding 100 million annually, a significant portion of travelers prefer Halal products and services. Singapore, Thailand, and Malaysia are top destinations, with Thailand actively promoting Halal and Muslim-friendly tourism.
Leadership and Vision
Deputy Minister in the Prime Minister’s Department (Religious Affairs), Zulkifli Hasan, described the establishment of the Halal Secretariat as a forward-thinking initiative by the industry. He emphasized that this effort would serve as a catalyst for empowering the Halal industry at both the Malaysian and ASEAN levels. Malaysia plans to host numerous conferences next year, focusing on ASEAN and international forums, to further enhance the Halal industry’s contribution to the economy.
Industry Evolution
The Prime Minister’s senior political secretary, Datuk Seri Shamsul Iskandar Md Akin, highlighted the evolution of the Halal sector beyond food and beverages to include pharmaceuticals, cosmetics, logistics, tourism, and more. The one-day program, organized by the Selangor chapter of the Malaysian Islamic Chamber of Commerce, brought together around 100 representatives from ASEAN chambers of commerce.
Collaboration and Data Systems
A proposal was made to establish the event as a focal point for ASEAN countries’ chambers of Halal industries, creating a platform for collaboration. The dialogue also underscored the importance of establishing a Halal data supply-and-demand system for better market insights and resource allocation.
Inclusivity and Growth
The inclusivity of the ASEAN business ecosystem fosters a welcoming environment. MPBC encourages its members to explore opportunities within the Halal Economy and leverage Malaysia’s expertise in the industry.
Article contributed by Humayun Habib
Asean establishes Halal Secretariat to drive industry growth – Selangor Journal
