‘Halal economy could drive new growth’

Commerce Minister Khandakar Abdul Muktadir called for developing a robust and internationally recognised halal ecosystem in Bangladesh, urging the country to draw on the experience of the ASEAN region to emerge as a global halal hub.
The minister made the remarks as the chief guest at a seminar titled “Halal Ecosystem in the ASEAN Region and Opportunities for Bangladesh”, organised by the Bangladesh Institute of International and Strategic Studies (BIISS) at its auditorium in the capital on Wednesday.
“Bangladesh needs to diversify its export basket by tapping high-potential sectors such as the halal economy,” Muktadir said, adding that the global halal market has expanded far beyond food and beverages to include pharmaceuticals, cosmetics, modest fashion, tourism, logistics, technology and finance.
“To increase exports, we must first enhance our domestic production capacity,” he said, stressing the importance of creating a safe and attractive investment environment to encourage both domestic and foreign investors.
The minister said Bangladesh, ahead of its LDC graduation, is pursuing free trade agreements (FTAs), preferential trade agreements (PTAs) and economic partnership agreements (EPAs) with various countries to retain preferential market access.
He stressed the need for an independent, reliable and internationally acceptable halal certification system to build global confidence in Bangladeshi products.
Experts at the seminar highlighted Malaysia’s halal ecosystem as a model for Bangladesh, noting that the country has developed halal as a comprehensive economic framework covering research, production, certification and marketing.
They said Bangladesh’s large domestic market and strong production bases in agriculture, food processing, pharmaceuticals, leather and readymade garments provide a solid foundation for the country to become a significant player in the global halal supply chain.
The seminar identified five strategic priorities for developing an internationally competitive halal sector: establishing an internationally acceptable national halal assurance framework; developing specialised halal industrial clusters with modern laboratories and advanced logistics; aligning existing production sectors with international standards; engaging SMEs, researchers and young entrepreneurs; and promoting the “Bangladesh Halal Brand” globally through economic diplomacy.
BIISS Director General Maj Gen ASM Redwanur Rahman delivered the welcome address, while BIISS Research Director Dr Mahfuz Kabir presented the keynote paper.
Representatives from the Islamic Foundation and the Bangladesh Standards and Testing Institution (BSTI) also spoke at the seminar.
The speakers said prioritising quality, transparency and international trust could turn the halal economy into a new pillar of Bangladesh’s export growth and help establish the country as an important hub in the global halal market.