Home » HDC To Unveil Study On Value Of Halal Products At WHF 2011

HDC To Unveil Study On Value Of Halal Products At WHF 2011

News From : DagangHalal.com (21 Jun 2010)

KUALA LUMPUR, June 21 (Bernama) — Halal Industry Development Corp (HDC) will gather data and statistics to evaluate the actual value of the global halal industry which it will unveiled next year.

Its chief executive officer, Datuk Seri Jamil Bidin, said it was possible the industry was bigger than the current estimate of US$2.3 trillion (US$1 = RM3.17) as all sectors of the halal industry were thriving.

The estimate, he said, was made by a research house in Canada.

“What it does is just a basic calculation like the value of the food industry and the size of Muslim population.

“With a global Muslim population of close to three billion, the annual trade in halal products and services is a multi-trillion dollar industry,” he said at at the World Halal Forum: State of the Industry Panel Discussion (WHF 2010) on Monday.

The fifth WHF 2010, themed ‘State of the Industry: Market Access and International Trade’, is part of the Halal Malaysia Week organised by HDC, Kasehdia Sdn Bhd and Malaysia External Trade Development Corp to position Malaysia as a beacon of the global halal industry.

Jamil said HDC would break the data into sectors and country.

“With this, we can estimate the actual value of the industry. The studies will be unveiled at WHF in 2011,” he said.

The halal industry, Jamil said, has garnered interests from the business community globally, and was now extended to activities such as logistics and packaging.

He said with the non-Muslims’ increasingly acceptance of halal products and services, the trade value would also further grow like those in the US and the European countries.

“Although the Muslim population in the US and European is small, their purchasing power of the halal products is tremendous.

“Therefore, HDC has a role to play in re-branding the non-consumers’ confusion that the halal products are only for Muslims.

“We want all to know that the halal values are not just for Muslims, but for everyone,” he said.

Jamil said halal was associated with safe, clean and nutritious food, prepared according to Islamic principles and it also applied to personal care and cosmetic products, pharmaceuticals, as well as finance and other services.

— BERNAMA

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