KUALA LUMPUR: The Halal Development Corporation Bhd (HDC), an agency under the Ministry of Investment, Trade, and Industry (MITI), anticipates a significant uptick in Halal trade between Malaysia and Japan in 2024.
HDC chairman Khairul Azwan Harun attributed this optimistic outlook to several key factors, including heightened awareness and acceptance of Halal products among consumers and businesses, political stability, favorable investment conditions, technological advancements in the Halal supply chain, and the upcoming World Expo 2025 in Osaka.
"Halal trade between Malaysia and Japan is poised for significant expansion in 2024 and beyond.
"We have observed a remarkable rise in Halal awareness among consumers and businesses, particularly in sectors such as food and beverage, cosmetics, and tourism," he added.
Azwan emphasised Malaysia's political stability, coupled with its investor-friendly Halal ecosystem and unwavering commitment to gold standards in Halal certification, as laying a robust foundation for robust trade relations between the two nations.
"Malaysia's total exports amounted to RM59.46 billion in 2022, with Halal exports to Japan reaching RM3.6 billion," said Azwan.
Azwan said that despite encountering economic uncertainties, this figure represents the highest since 2018, underscoring the resilience and growth potential of Malaysia's Halal exports.
The forthcoming World Expo 2025 in Osaka presents an opportunity to showcase Malaysia's Halal expertise globally and bolster trade ties between Malaysia and Japan.
HDC is actively advocating for Malaysian businesses, particularly small and medium enterprises (SMEs), to capitalise on the Halal market opportunities between the two countries.
This entails not only exporting Malaysian products to Japan but also positioning Malaysia as a central hub for Halal products, catering to Japanese companies seeking access to the global Halal market.