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Malaysia & Thailand signs MoU to grow Halal Market in both Countries

HDC Chief Executive Officer Dato’ Seri Jamil Bidin

HDC Chief Executive Officer Dato’ Seri Jamil Bidin

KUALA LUMPUR : The Halal Industry Development Corporation (HDC) and the Thai Small and Medium Enterprises Council today exchanged a Memorandum of Understanding (MoU) with the aspiration of creating greater trade and investment activities as well as wider market access opportunities between Halal industry players in both countries.

The MoU exchange was in conjunction with the World Halal Conference 2018 (WHC 2018) organised by HDC, represented by HDC Chief Executive Officer Dato’ Seri Jamil Bidin and Chairman of the Thai Small and Medium Enterprises Council Mr.Chaiwat Hansomwong.

Under the terms of cooperation, both HDC and the Council set out to become the focal reference point for all information that is beneficial to trade, investment and development of small and medium enterprises. Both will also screen potential local entrepreneurs in their respective countries to ensure they have a good business record before introducing them to the other party, in addition to extending cooperation to other ASEAN nations.

“The MoU underlines Malaysia’s commitment as a leader in the Halal industry to cooperate with other countries in exploring and growing the potential of businesses catering to the global Halal markets,” said Dato’ Seri Jamil.

“Collaboration programmes with other countries form a significant part in the development of the global Halal industry. It not only promotes business matching between small and medium enterprises in Malaysia, Thailand and countries in ASEAN, but facilitates the transfer of knowledge and expertise for small and medium enterprise entrepreneurs.”

In 2017, Malaysia’s Halal export value to Thailand amounted to RM1.76 billion, up from RM1.5 billion from the previous year with the food and beverage sector continuing to dominate sales with RM927 million. The export of Halal ingredients was the second highest export value contributing RM668 million, followed by cosmetics and personal care products with RM113 million. Industrial chemicals meanwhile, accounted for RM30.6 million, followed by pharmaceuticals at RM15 million and palm oil derivatives worth RM12 million.

Dato’ Seri Jamil said Malaysia has been at the forefront in Halal development, and in its effort to serve as an international hub for the Halal industry, HDC provides manufacturers, distributors, retailers, entrepreneurs, researchers and investors with comprehensive assistance to penetrate and serve a growing global Halal market through the adoption of the Malaysian experience and expertise in food and non-food sectors.

Themed “Whither the Next Economy?”, the two-day WHC 2018 has attracted more than 1,000 participants from almost 50 countries including Thailand and other ASEAN countries.

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