Bangladesh to be int’l halal forum member soon

Bangladesh is going to become a member of the International Halal Accreditation Forum (IHAF) soon for strengthening the country’s position in the halal product markets across the world. To this end, Bangladesh has already submitted its application after taking approval of the cabinet. Talking to BSS, Industries Secretary KM Ali Azam said after becoming a member of the IHAF, the certification of the Bangladesh Accreditation Board (BAB) will be accepted across the world.

He informed that Bangladesh is also trying to get membership of the Standards and Metrology Institute for Islamic Countries (SMIIC).

He said Bangladesh has the potential to be a major player in the global halal market and so, the government is providing all supports to expand the market of Bangladeshi halal products.

Foreign Affairs Ministry’s South East Asia Wing Director General M J H Jabed said Bangladesh will have to go for halal industry to increase its export for achieving the development goals, Sustainable Development Goals (SDGs)-2030 and Vision-2041.

“For becoming a developed country, if we want to increase our export to US$80 billion from the existing $40 billion, we will have to move for halal industry. The demand of halal industry is growing day by day,” he added.

In line with the growing demand of halal products across the world, Bangladesh Economic Zones Authority (BEZA) Zone Development Consultant AKM Mahbubur Rahman said BEZA is ready to offer developed land with attractive package of incentives to establish “Halal Hub” in its economic zones.

He said Bangladesh is predominantly a Muslim country having population more than 170 million and the people of this country are mostly concerned about taking halal food.

So, the major segment of population has been targeting to produce halal items for their own consumption as well as earning revenue by selling their produce, he added. 

But, he said, the country is lacking institutional arrangement to promote halal industry by name like mechanism to certify of halal products and overseas marketing promotions.

Having ample opportunity to involve halal product manufacturing and export, this country could not diversify its outward business, he added.

Mahbubur Rahman informed that the global halal industry is estimated to be worth around $ 2.3 trillion and growing at an estimated annual rate of 20 percent. The industry is valued at about $ 560 billion a year.

Thus, making it one of the fastest growing consumer segments in the world and the global market of 1.8 billion Muslims is no longer confined to food and food related products, he added.

He said the halal industry has now expanded beyond the food sector to include pharmaceuticals, cosmetics, health products, toiletries and medical devices as well as service sector components such as logistics, marketing, print and electronic media, packaging, branding and financing.

In recent years, he informed that with the increase in the number of affluent Muslims, the halal industry has expanded further into life style offerings including halal travel and hospitality services as well as fashion.

This development has been triggered by the change in the mind set of Muslim consumers as well as ethical consumer trend worldwide, he said.

He said the Muslims represent an estimated 23 percent of the global population with an average growth of 3 percent per annum.

If this growth trend continues, Muslims are expected to make up about 26 percent of the world’s total projected population in 2030, he added.

He said although Islam is often associated with the Arab world and the Middle East, this region is home to only 20 percent of the world’s Muslim population.

This number is expected to grow by more than a third in the next two decades and the sub-Sahara Africa makes up 15 percent of Muslim worldwide and is projected to grow by nearly 60 percent in the next two decades, he added.

He said although Muslims will remain minority group in Europe and America, they will constitute a growing share of the total population.

The sizeable and growing Muslim consumer market across the globe will continue to fuel the halal industry’s double digit growth, creating a plethora opportunities in the market for halal products and services, he added.