Huge potential for halal industry growth, says envoy

The halal industry is a multi-trillion dollar industry that is broadening outside Muslim countries. Halal, which means “permissible” in Arabic, is not just about meat; fashion, banking, tourism and pharmaceuticals are also key players in the momentum of the halal movement. This rapidly-growing market provides economic opportunities for those who become halal-certified, and Malaysian Ambassador Nur Azman Abdul Rahim believes it is the lifestyle of the future.

“Halal is something that is no longer considered as a Islamic or religious method; it’s more than that,” he told the Times.

Malaysia’s passion for the halal industry could translate into profit for the Argentine meat sector. The global potential is shocking; the halal market is projected to grow to US$3.27 trillion by 2028.

“I would like to see halal cooperation to be aggressively pursued by both sides,” said the ambassador. “Imagine that Argentine exporters can get 71 percent of this [US$3.27 trillion].”

Halal has made a name for itself around the world in Muslim and non-muslim communities as a symbol of hygiene and quality. Malaysia’s envoy in Argentina is sure that people will taste the difference.

“Halal is also considered as a lifestyle, as a symbol of high quality of hygiene, a symbol of clean safety,” he added. “If you look at halal meat and normal meat, you can see the freshness, and the quality.”

Malaysia’s halal certification board (Foreign Halal Certification Body, or FHCB) is world-recognised as an authority on halal practices, and with their approval, Argentine beef can be exported on an even wider global scale. The ambassador thinks such cooperation is key to bilateral relations.

“Argentina produces the best meat in the world,” Abdul Rahim said. “So imagine that all slaughterhouses in Argentina got our halal certification, they could penetrate not only Muslim countries, but the entire world.”

So far, 21 national slaughterhouses and four dairy companies have been inspected by the halal agency, which visited this past September. The first to be certified was Azul Natural Beef SA, and the report regarding the rest of the surveyed slaughterhouses is slated to be published in the coming months.

“The reason I am going back to Malaysia is to ask when it will be done, so hopefully soon,” the ambassador revealed.

Even European banks, like HSBC, are catching on to the demand for a halal lifestyle. They have an Amannah account, which is Sharia-compliant Islamic banking.

“It is not only meat, the ecosystem of halal is very huge,” he said. “we really need to fully utilise it.”