Thirty Philippine companies, including San Miguel PureFoods, Century Pacific and Fisher Farms will join a trade show which will be staged in Malaysia to tap the trillion-dollar halal market, according to an official of the Department of Trade and Industry (DTI).
The DTI said the local firms will join the Malaysia International Halal Showcase (Mihas)—one of the largest global halal events—which will take place this week.
“This is the first major engagement that will let the world know the Philippines is interested in making our mark in the halal market,” Perlada said in an interview with the BusinessMirror.
Representatives from Zamboanga economic zone will also be making a pitch to Malaysian investors to encourage them to invest in the Philippines. The Department of Agriculture and the Philippine International Trading Corp. will join the presentation.
“We will also be engaging with Malaysian authorities on halal accreditation and certification, and visits to halal hubs there to benchmark their practices and standard,” Perlada added.
Perlada said the Philippines is keen on making its mark in the Asean region via trade exhibits, such as Mihas. The Mihas will run from April 5 to 8.
He said the 30 companies have set a sales target of $3 million from the Mihas.
The global halal industry is currently estimated at $2 trillion. The halal market is projected to expand to $10 trillion by 2030, according to the DTI.
The halal industry spans sectors such as food processing, food service, cosmetics, personal care, pharmaceuticals and logistics industries. Other related industries include travel and hospitality services.
The Mihas was organized by the Malaysia External Trade Development Corp. (Matrade), Malaysia’s trade promotion agency. It was first introduced in 2004 to promote the world’s halal sector.
Mihas 2017 will highlight segments within the global halal industry supply chain, such as halal food and beverages products, non-food products, such as halal pharmaceuticals and halal cosmetics products, as well as Syariah-compliant services, namely, financial services, halal logistics, e-commerce and tourism.
Complementing Mihas 2017 will be the inaugural Malaysia International Islamic Lifestyle Exhibition (MILE), an event organized in parallel with Mihas to promote Islamic lifestyle sector.
The MILE’s objective is to promote clusters, such as modest fashion, Islamic education and literature, Islamic arts, information-technology and multimedia, jewellery and ornaments, as well as social and community development.
Originally published on www.businessmirror.com.ph