DHAKA: Bangladesh is engaged on tapping into the worldwide halal market and rising exports to Gulf international locations, the Bangladesh Islamic Basis stated on Tuesday following the federal government’s inaugural coverage on halal certification.
Bangladesh’s Ministry of Spiritual Affairs accepted final month a halal certification coverage, which serves as a proper guideline and incentive for corporations to align with worldwide halal requirements, paving the way in which for the South Asian nation to harness the potential of the worldwide halal market, which is price over $2 trillion.
“This halal certification is essential for us since we’re a Muslim nation and 92 p.c of our customers are Muslim … Now, we will discover the export potential of our halal items,” Abu Saleh Patwary, deputy director of the halal certification division on the Bangladesh Islamic Basis, informed Arab Information on Tuesday.
The BIF is a physique below the Ministry of Spiritual Affairs, which has labored on halal certification issues since 2007 and is now in command of issuing halal certificates in Bangladesh.
“Saudi Arabia and the UAE might be the most important vacation spot for our halal items … We will probably be aiming to extend exports to Muslim international locations, particularly within the Gulf area,” he stated.
“If we are able to seize 2 to three p.c of worldwide halal markets, it’s going to increase our financial system so much … Now, a brand new horizon of halal items has opened up for our native entrepreneurs.”
The coverage comes at a time when Bangladeshi companies are additionally exploring new alternatives with Gulf nations, reminiscent of Saudi Arabia, which a delegation comprising the nation’s high enterprise leaders visited earlier in October.
Jahangir Alam, director on the Dhaka College of Economics, stated halal certification was crucial to enter the Center Jap market.
“Most Muslim international locations need halal certification to import shopper items. It’s notably arduous to promote items in Center Jap international locations with out halal certification. For that reason, we want the halal certification very a lot,” Alam informed Arab Information, including that it’s going to assist increase the presence of Bangladeshi merchandise internationally.
The method to acquire these certifications needs to be “straightforward and hassle-free,” Alam added, to make sure that Bangladeshis can reap the advantages of such a coverage.
“The introduction of halal certification will increase gross sales of products each regionally and globally. Finally, it’s going to improve the earnings of our overseas foreign money. It’s an ideal initiative.”