THE Department of Trade an Industry (DTI) hopes to generate orders of about $5.7 million for companies participating in the Malaysia International Halal Showcase (MIHAS) 2018.
Trade Secretary Ramon M. Lopez said a number of Filipino companies are set to participate in the annual four-day trade exhibition in Kuala Lumpur (KL) scheduled this year which runs from April 4 to 7.
Twenty-eight Philippine participants from the food, personal care, cosmetics, and pharmaceutical sectors will be setting up at a 19-booth pavilion to promote their products.
“I must say that the halal industry is where we’re putting much focus on. We are very much lagging in this particular industry,” Mr. Lopez said in his speech during the Malaysia Forum on Monday.
The global halal market is estimated to be worth $2.6 trillion. The DTI has set an export target of $1.4 billion in 2018, up from around $800 million in 2017.
“It has a potential worldwide as well as in the Philippines. It’s not just focused on the products but also on the service sector, like Halal-certified resorts and restaurants.”
The Philippines is organizing its halal industry to become more competitive, with the department staging conferences to promote awareness among potential exporters.
RA 10817 or the Philippine Halal Export Development and Promotion Act of 2016 authorizes the DTI to strengthen the country’s export potential for halal products. — Anna Gabriela A. Mogato