A new Memorandum of Understanding (MoU) signed by Austrade and Malaysia’s Halal Development Corporation (HDC) will provide Australia’s halal exporters greater access to Malaysia’s rapidly growing halal food sector.
Austrade said the new MoU with HDC will open commercial pathways for Australian exporters as global demand for halal products and services rises.
“This will also help to develop increased information exchanges and deepen commercial collaborations, leading to long-term, mutually beneficial outcomes for businesses in both Australia and Malaysia,” said Paul Sanda, Senior Trade and Investment Commissioner to Malaysia and Brunei at Austrade.
“With the Malaysian Government committed to developing Malaysia as a leading halal industry centre of excellence and manufacturing hub, Australian businesses are well-placed to supply halal certified ingredients and raw materials to both the manufacturing and food service sectors,” Sanda said.
He continued that the new agreement also opens potential for greater services trade.
“Australia’s world-class food security frameworks and supply chain integrity are integral to supporting these initiatives,” he said.
“Working with Malaysian businesses will help to unlock other opportunities within ASEAN and with other markets across the globe.”
Sanda also emphasised the importance of understanding the value halal certification can bring to a brand.
Part of the MoU’s initiatives will be focused on creating increased collaboration in marketing, education and training for businesses to assist with building their brands.
In 2020, Australia’s exports of goods and services to Malaysia totalled approximately $10 billion.
The ASEAN region alone is home to over 249 million Muslims. Globally, the halal market is projected to increased from $4 trillion to $7 trillion in 2030.
Hairol Ariffein, Chief Executive Officer at HDC, said the new agreement is not only about sharing business insights and commercial partnership opportunities.
“Importantly, it will also include projects to enhance broader trade imperatives, exchange of market intelligence and know-how, potential investment in Halal Industry Parks, training and consultancy services; and cooperation on dedicated halal business events,” Ariffein said.
Sanjay Boothalingam, Department of Agriculture, Water and Environment (DAWE) Counsellor (Agriculture) Malaysia and Brunei, said Australia’s reputation for supplying high quality, halal compliant produce underpinned by world leading food safety standards combined with Malaysia’s global leadership on halal matters make us ideal partners to take advantage of the opportunities ahead of us.
“This MoU is an important milestone that will help strengthen the two-way trade in halal products to benefit both our economies,” Boothalingam said.
This MoU supports the Agribusiness Expansion Initiative (ABEI), the Australian government’s $72.7 million initiative to help achieve sustainable growth and resilience in Australia’s agribusiness exports. ABEI funding supports the Australian agriculture sector’s ambition to increase the value of farm gate output to $100 billion by 2030.
Source: Austrade
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