PUTRAJAYA, Oct 1 (NNN-BERNAMA) — The Malaysian government is ready to assist Nigeria in the development of halal products which are based on its locally produced agricultural commodities (agricommodities), in order to expand the country’s halal products market.
Plantation Industries and Commodities Minister Dr Mohd Khairuddin Aman Razali said being one of the countries with a large Muslim population, Nigeria has an ever-growing halal industry that includes food, logistics, fashion, cosmetics, Islamic banking and supply chain.
“Now is the right time for Malaysia to work with Nigeria to develop a halal business hub in the country to produce halal products, halal food certification and halal food management, among others,” he said in a statement today, issued in conjunction with his keynote address at the World Halal Virtual Expo and Webinar Series 2020 Wednesday.
The first-ever virtual halal trade event focused on the global halal industry, which is estimated to be worth about US$2.3 trillion (excluding Islamic financial assets) and its relation to agricommodity products.
“Malaysia is the only country in the world where the development of the halal industry is supported by the government, in addition to promoting synergies between the private and public sectors,” he said.
Mohd Khairuddin added that the halal industry goes beyond the food and beverage segment, as it also includes downstream commodity products such as chocolates, rubber gloves, palm oil products and cosmetics.
“Since half of Nigeria’s population are Muslims, the nation has a responsibility to take care of a large number of local halal consumers,” the minister added.
He also noted that the global halal industry has been growing at a rate of 20 per cent annually, making it the fastest-growing business in the world.
— NNN-BERNAMA