• PH urged to tap billion-dollar halal market

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    The Department of Trade and Industry (DTI) said the Philippines should grab the opportunity to tap the growing market for halal food market and provide a valuable service to a growing Filipino Muslim population.

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    DTI Undersecretary Prudencio Reyes Jr. said the availability of halal food should improve tourist flow, particularly Muslim visitors from neighboring Asian countries and other parts of the world.

    “This is a great opportunity for the Philippines to enter the billion-dollar halal industry.

    Mindanao could be a potential producer of tuna, sardines, banana, coconut, fruits and most especially poultry and livestock products due to its advantage as bird flu and FMD free country”, Reyes said.

    Halal is an Arabic term meaning “permissible.” It usually refers to food according to Islamic law, but encompasses non-food items such as cosmetics, banking and finance, logistics etc.

    DTI participated in the 8th World Halal Conference 2015 (WHC) and 11th Malaysia International Halal Showcase (MIHAS) on March 31 to April 2, 2015 at Kuala Lumpur Malaysia.

    MIHAS is an internationally recognized exhibition of Halal products and services organized by the Malaysia External Trade Development Corporation (MATRADE) while the WHC organized by the Halal Industry Development Corporation is a renowned annual conference hosting Halal in Unison.

    Global demand for halal stands at about $2.3 trillion and 60 percent or $1.38 trillion is in the Asean economies. Malaysia has cornered a 30 percent share of the halal market.

    Increasing demand for halal food and non-food services is expected to swell rapidly as the Muslim population is seen growing 1.8 percent annually.

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