Indonesia and Thailand are deepening their collaboration in the Halal sector, aiming to boost bilateral trade, which currently stands at US$18 billion. The agreement, forged between Indonesian President Prabowo Subianto and Thai Prime Minister Paetongtarn Shinawatra, focuses on standardizing and developing the Halal industry and the digital economy. Both nations plan to establish the First Joint Trade Commission soon. Thailand has been a key player in Halal certification since 1948, giving them a head start in this rapidly growing global market.
The Halal industry includes sectors like food, finance, tourism, cosmetics, and pharmaceuticals, driven by a growing Muslim population and increased awareness of Halal standards, with Halal products perceived as high-quality and hygienic. Certification ensures compliance with Islamic principles.