Kuala Lumpur, 30 June 2022,
The global Muslim population spending amounted to US$2 trillion (RM8.8 trillion) in 2021 and this is projected to grow to US$2.8 trillion in 2024, Malaysia External Trade Development Corporation (MATRADE) said, quoting the 2022 State of the Global Islamic Economy Report.
In a statement yesterday, Matrade Frankfurt trade commissioner Zuhaila Sedek said Malaysia and Germany can collaborate to explore the potential of this industry via innovation and in supply chain management. “In Germany, (the) halal (industry) is seen as a value proposition that has a lot of similarities with organic and vegan products, and can serve the demand of between 5.3 and 5.6 million Muslims living in the country,” she said at a webinar “Halal as a Catalyst of Innovation and Sustainability for Manufacturers” on June 17.
She said the halal industry is a multibillion and dynamic one with a pool of consumers with strong purchasing power. The webinar was organised with the support of IHK Hannover (Chamber of Commerce Hannover) and was participated by more than 45 business representatives. The German participants were invited to attend the world’s largest halal trade fair, Malaysia International Halal Showcase (Mihas) 2022, from Sept 7-10 in Kuala Lumpur. – Bernama
Source: The Sun