Kuala Lumpur (VNA) - Cooperation in the Halal industry can help Vietnamese products reach nearly 2 billion Muslim consumers worldwide, representing over 24% of the global population, according to Malaysia’s Minister of Investment, Trade, and Industry Zafrul Abdul Aziz.
Zafrul said that during his visit to Vietnam in July, the two countries agreed to enhance their understanding and efforts to boost Halal collaboration.
Malaysia is committed to sharing expertise and supporting Vietnam in strengthening its position in the Halal value chain, including ensuring that products meet Halal standards, with full traceability from origin to retailers, restaurants, and consumers, he affirmed.
During previous visits by Malaysian Prime Ministers Muhyiddin Yassin in March 2021 and Ismail Sabri Yaakob in March 2022, the two sides underscored the importance of expanding cooperation in areas like Halal, logistics, Islamic finance, tourism, and Halal-friendly services.
The two sides aim to increase bilateral trade to 18 billion USD by 2025, capitalising on their respective strengths. Vietnam, with its diverse and expanding agricultural sector, is a key exporter of high-quality produce, while its proximity to Malaysia makes transportation both efficient and cost-effective.
Jamilah Haji Hassan, Senior Director of ASEAN Economic Integration at Malaysia’s Ministry of International Trade and Industry (MITI), expressed her support for greater collaboration between the two countries in the Halal food sector.
Vietnam has been exporting Halal food products to Malaysia since 2016, with exports totalling 5.32 billion RM (around 1.19 billion USD) between 2016 and 2020. Malaysia aims to help Vietnam become one of the top 10 Halal food exporters globally, offering expertise in Halal standards and facilitating better access to the Malaysian market.
Vietnam’s Halal sector can also benefit from the services provided by Malaysia’s trade promotion agency, MATRADE. Events like the Malaysia International Halal Showcase (MIHAS) offer valuable opportunities for Vietnamese companies to explore partnerships, he held.
Malaysia is currently Vietnam's second largest trading partner in ASEAN, and the 11th biggest globally. Meanwhile, Vietnam is Malaysia's third largest trading partner in ASEAN./.
Malaysia’s Halal industry to make up 10.8% of GDP by 2030
Malaysia’s Halal industry is projected to account for 10.8% of the country's GDP by 2030, with an estimated value of 231.1 billion RM (51.7 billion USD).
