HDC eyes significant growth in Malaysia-Japan halal exports in 2024
KUALA LUMPUR: Halal Development Corporation Bhd (HDC) anticipates a substantial surge in trade between Malaysia and Japan in 2024 and beyond, said chairman Khairul Azwan Harun.
In a statement today, he said political stability, conducive investor environments, technological innovation in the halal supply chain and Osaka’s World Expo 2025 are among the key factors to contribute to this growth trajectory.
“We have observed a remarkable rise in halal awareness among consumers and businesses, particularly in sectors such as food and beverage, cosmetics, and tourism.
“Malaysia’s political stability and investor-friendly halal ecosystem and our commitment to gold standards in halal certification sets a strong foundation for robust trade relations between our two nations,” he said.
Khairul Azwan said Malaysia’s total exports amounted to RM59.46 billion in 2022 with halal exports to Japan reaching RM3.6 billion, the highest since 2018 despite global economic uncertainties.
This underscores Malaysia’s halal export resilience and growth potential.
Technology adoption and innovation are the twin driving forces enhancing the halal supply chain, ensuring quality, efficiency, and transparency, the statement said.
It noted that Osaka’s World Expo 2025 presents a significant opportunity to showcase Malaysia’s halal excellence on the global stage, further strengthening Malaysia-Japan bilateral trade ties.
HDC encourages Malaysian businesses, especially small and medium enterprises (SMEs) to venture into the halal market, which involves exporting Malaysian products to Japan and also positioning Malaysia as a halal hub for Japanese companies seeking to tap into the global market.
Malaysia as a predominantly Muslim country with a robust halal ecosystem has provided Japan with access to a market of over 1.8 billion Muslims worldwide.
“By collaborating with Malaysia, Japanese companies can leverage expertise and resources to enter this market more effectively, expand their customer base, and diversify their revenue streams,” the statement said.