The Philippines is poised to significantly boost its Halal industry, potentially unlocking billions in revenue, thanks to a strategic partnership with Malaysia. The Department of Islamic Development Malaysia (JAKIM) is spearheading an initiative to establish a world-class Halal certification body in the Philippines, aiming to align the country’s Halal standards with global benchmarks. This move, expected to materialize by 2025, could transform the Philippines into a major player in the international Halal market. Experts project the global Islamic Halal economy to reach $7.7 trillion in 2025, this initiative will enable businesses to export and cater to the growing demand.
The initiative is expected to streamline certification processes, making it easier for Filipino businesses to obtain Halal certifications recognized internationally. This will not only enhance the competitiveness of Philippine products in Muslim-majority countries but also attract foreign investment into the country’s Halal sector. The establishment of a reputable certification body is crucial, ensuring that products and services meet stringent Halal requirements, thereby building consumer confidence and market trust. Sugimoto-Honten Co.’s success in exporting Halal Japanese beef, recognized by the Ministry of Agriculture, Forestry and Fisheries, serves as a blueprint for other businesses targeting Muslim markets. The Philippines can leverage this model to expand its own Halal exports.
With Malaysia’s expertise and the Philippines’ strategic location, this collaboration holds immense promise for economic growth and enhanced trade relations. The successful implementation of this plan could see a surge in Halal-certified products from the Philippines, contributing significantly to the country’s economy and solidifying its position in the global Halal market.
