Bangladesh needs to set up 'halal' certification body

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FE Report
Bangladesh urgently needs to establish a 'halal' certification body to enter a US$ 2.1-trillion global market for halal products, Malaysian trade officials and market promoters said Saturday.
"The present market size of halal food products is estimated at US$ 900 billion across the globe having an annual growth rate between 16 per cent and 25 per cent. Bangladesh requires to set up a certification body, which is still absent here, to join the global halal market," a senior executive of a Malaysian marketing promotion agency, Zahimi Bin Chik, said.
Expressing the same sentiment, Deputy Secretary General of Ministry of Entrepreneur and Cooperative Development Dato Md. Hashim Bin Abdullah also said Bangladesh will not be able to enter the world halal market unless it forms a certification and standardisation body for export of such products.
He made the observation while announcing the launch of a 'Halal Malaysia Week 2008' to be held in Dhaka from July 22 to July 26, aimed at creating an avenue for the entrepreneurs of both Bangladesh and Malaysia to explore potentials of mutual business benefits.
Malaysian High Commissioner in Dhaka Dato Abdul Malek Bin Abdul Aziz, BMCCI honorary Secretary General Syed Moazzam Hossain, among others, spoke at the launching ceremony, held at a city hotel.
With the successful conclusion of a three-day Showcase Malaysia 2008, the Epic Tips - a promotion and marketing agency for Malaysia SMEs - will organise the first ever halal Malaysia week in Bangladesh to further boost bilateral trade and investment relation between the two countries, the organisers said.
The halal Malaysia week will showcase a wide-range of products and services and also arrange business conferences, gala dinner, cultural events in Dhaka Sheraton Hotel and Basundhara City in Dhaka, they added.
"We have selected Bangladesh as our potential market of halal products. The proposed halal week will not only help introduce our products to about 160 million consumers, but it will also create trade and investment relations between the entrepreneurs of the two friendly countries," Hashim said.
Terming the Showcase Malaysia a total success, the Malaysian High commissioner said it gave immense opportunities to the businessmen of Bangladesh and Malaysia to explore mutual business potentials.
He also mentioned that a high-profile business delegation from Malaysia will arrive in Dhaka next May to explore trade and investment scopes in Bangladesh.
Syed Moazzam Hossain, however, said that some 200 Bangladeshi entrepreneurs had inquired about doing business with their Malaysian counterparts during the trade showcase while a good number of Malaysian entrepreneurs had expressed their keen interest in setting up joint venture projects in Bangladesh.
The BMCCI will organise a Bangladesh Trade show in Malaysia shortly to promote the country's exportable items, aiming to help scale down Bangladesh's trade deficit with Malaysia, he added.
Emphasising the need for diversifying Bangladesh's exports basket, Moazzam sought necessary supports from the governmnet in this regard.
After the inaugural function, four separate memoranda of understanding (MoUs) on joint-venture investments were signed between the entrepreneurs of Bangladesh and their Malaysian counterparts.