Bangladesh seeks Malaysia’s support to set up halal industrial park

Bangladesh has sought Malaysia's cooperation in developing a halal industrial park to tap into the rapidly growing global market for foods and products prepared in accordance with Islamic law.

"Let's make a move on this," said Chief Adviser Prof Muhammad Yunus during a meeting with Malaysian halal industry officials in Kuala Lumpur on Tuesday, according to a statement.

Officials told the chief adviser that the global halal products market is valued at $3 trillion and is projected to reach $5 trillion by 2030. Malaysia, which operates at least 14 halal industrial parks, holds a sizable share of the market.

Other major players include Middle Eastern countries, Thailand, Australia and New Zealand.

Bangladesh, home to the world's third-largest Muslim population, has significant potential to join the market if it strengthens its infrastructure and certification systems.

Global halal products market is valued at $3 trillion and is projected to reach $5 trillion by 2030

Currently, the Islamic Foundation Bangladesh certifies halal products, with only 124 manufacturers certified so far. The Bangladesh Standards and Testing Institution also issues certification for halal products.

Chowdhury Ashik Mahmud Bin Harun, executive chairman of the Bangladesh Investment Development Authority, urged the Malaysian side to help identify the requirements for establishing a halal industrial park in Bangladesh.

The Malaysian delegation was led by Datin Paduka Hajah Hakimah binti Mohd Yusoff, coordinator of halal affairs under the Malaysian prime minister's department. Among those present were Sirajuddin Bin Suhaimee, director general of the Department of Islamic Development Malaysia (JAKIM), and Hairol Ariffein Sahari, chief executive officer of the Halal Development Corporation (HDC).

Earlier in the day, Bangladesh and Malaysia exchanged a note of cooperation in the field of halal ecosystems, which officials described as "halal diplomacy".

Sirajuddin Bin Suhaimee said Malaysia would soon send a team to Bangladesh to assess the country's needs.

Foreign Adviser Md Touhid Hossain; Law Adviser Asif Nazrul; Energy Adviser Fouzul Kabir Khan; Chief Adviser's Special Envoy Lutfey Siddiqi; and Senior Secretary for SDG Affairs Lamiya Morshed, also attended the meeting.