Summary
WITH a 1.8 billion world Muslim population, there's a huge halal market out there waiting to be tapped. The Halal Industry Development Corporation is helping Malaysia do just that.
HALAL IS BIG BUSINESS. THE GLOBAL HALAL market has an estimated value of RM10.85 trillion per annum and is growing with nearly two billion Muslims around the world. It is no wonder that Malaysia has set its sights on getting a significant piece of the cake.See the full content of this document
Extract
Harnessing the Halal Potential
The domestic halal industry is valued at RM30 billion a year and is expected to grow by around 25% this year. Not surprisingly, trade in halal products is one of the fastest-growing business sectors in Malaysia.
However, detailed statistics on the halal trade are not available due to the international harmonised coding (HS Code) system used for customs records on external trade, which is not `halal-friendly'.Nevertheless, Malaysian exports of halal food products to the Organisation of the Islamic Conference (OIC) member countries increased significantly in 2007 - to about US$640 million - and is expected to reach US$900 million this year.Halal...See the full content of this document
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