The Halal Industry Development Corporation (HDC) expects halal exports to rise this year on falling global oil prices and a weakening ringgit, says Managing Director/Chief Executive Officer Datuk Seri Jamil Bidin.
"Lower global oil prices could result in lower logistics costs and lower production costs, leading to competitive pricing and encouraging consumer spending, a good thing for the country," he told Bernama.
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However, Jamil said those who import the ingredients for their products should start looking for substitutes.
He said the global economic scenario affecting Malaysia will somehow correct itself, but at the same time the business community must adjust itself accordingly.
He said the corporation remains optimistic of achieving positive growth in halal exports despite the current hiccup, and was recently approached by French companies to collaborate in the republic's halal market.
"France could be our new gateway to the European countries, which are home to about 40 million Muslims. I was told that the halal market in France alone totals £6 billion (RM25 billion)," he said.
Jamil said with its entry into this new market, HDC is on track to contribute at least five per cent to the country's annual halal exports.
For the first nine months of 2014, halal exports stood at RM28 billion, up 17% from RM24 billion recorded for the same period in 2013.
Jamil said HDC is confident that halal exports for 2014, to be announced soon, would be more than the RM32 billion registered in 2013. – Bernama, March 8, 2015.
Source: http://www.msn.com/en-my/money/topstories/halal-industry-eyes-rise-in-exports-this-year/ar-AA9w6ZR#page=2
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