Intra-Asean trade can help ease food woes,
says Mukhriz
KUALA LUMPUR:
Expansion of intra-Asean trade, especially in food sector, will address the
region's food security issues, Deputy International Trade and Industry Minister
Datuk Mukhriz Mahathir said.
He said trade among Asean countries is low at US$2.88 billion (RM9.2 billion) as most member countries focus only on traditional markets.
"Low intra-Asean trade will bring about food security issues and there is therefore, the need for bigger production and supply of halal food within Asean countries," Mukhriz said.
Speaking to reporters after closing the ninth Asean working group on halal food meeting here yesterday, he said Asean countries need to explore the vast potential in the global halal food industry.
He said trade among Asean countries is low at US$2.88 billion (RM9.2 billion) as most member countries focus only on traditional markets.
"Low intra-Asean trade will bring about food security issues and there is therefore, the need for bigger production and supply of halal food within Asean countries," Mukhriz said.
Speaking to reporters after closing the ninth Asean working group on halal food meeting here yesterday, he said Asean countries need to explore the vast potential in the global halal food industry.
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"This is not only to
cater for the Muslim market, but also the non-Muslim market as halal standards
don't just stand for compliance to syariah principles but also include the
cleanliness, health benefits and purity of the food," Mukhriz added.
The global halal industry is a large and growing market worth an estimated US$693 billion (RM2.2 trillion) a year.
He noted that the supply side of halal production is much lower than market demand.
Mukhriz also said last year, Malaysia's performance in the exports of halal products by halal certified companies had recorded an estimated value of US$11.8 billion (RM37.6 billion).
Exports by these companies contributed 5.1 per cent to the country's overall export of US$231.5 billion (RM740 billion). Among the major items exported include halal ingredients valued at US$4.1 billion (RM13 billion), which comprised food and non-food ingredients such as fats, additives, salts, emulsifiers and colorings.
The major export destinations include China, the US, Singapore, the Netherlands and Japan.
The global halal industry is a large and growing market worth an estimated US$693 billion (RM2.2 trillion) a year.
He noted that the supply side of halal production is much lower than market demand.
Mukhriz also said last year, Malaysia's performance in the exports of halal products by halal certified companies had recorded an estimated value of US$11.8 billion (RM37.6 billion).
Exports by these companies contributed 5.1 per cent to the country's overall export of US$231.5 billion (RM740 billion). Among the major items exported include halal ingredients valued at US$4.1 billion (RM13 billion), which comprised food and non-food ingredients such as fats, additives, salts, emulsifiers and colorings.
The major export destinations include China, the US, Singapore, the Netherlands and Japan.
Source : Business Times
Date : 13 July 2012
afternoon
highlight (13/07/12/123/597)
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