"This immense market has created interest from both Muslim and non-Muslim food-producing countries," Muhyiddin said.

JEDDAH, February 26, 2006 (IslamOnline.net & News Agencies) – Muslim heavyweight Malaysia is seeking to have the upper hand in the booming and lucrative halal industry, the official Malaysian news agency Bernama reported on Sunday, February 26.

"Although Malaysia is already an existing major player in the halal food industry, one of our greatest ambitions is to become the leader in the global halal food industry, or to be known as halal food hub," Malaysian Agriculture and Agro-Based Industries Minister Muhyiddin Yassin told a seminar in the coastal city of Jeddah on Saturday, February 25. 

"Our mission is to become the main exporter of Malaysian-made halal products to the Middle East, Central Asia and Africa ," he added.

In 2004, Malaysia organized its first International Halal Showcase (MIHAS).

Halal food certification refers to the examination of food processes, from the preparation, slaughtering, ingredients used, cleaning, handling and processing, right down to transportation and distribution.

The Islamic Religious Council of Singapore (Muis) is also working to expand the e-certification of halal products and get international recognition as a world halal certification provider.

Muslims should only eat meat from livestock slaughtered by a sharp knife from their necks, and the name of Allah, the Arabic word for God, must be mentioned.

Malaysian bi-monthly magazine, The Halal Journal, was launched in February last year as the first trade and business publication serving the global halal marketplace.

Lucrative

The Malaysian minister said the halal food market is estimated at $150 billion a year with 1.8 billion Muslim consumers spread over 112 countries.

"The large Muslim populations in the Middle East, North Africa, South and Southeast Asia, and China provide a lucrative market for halal products," he said.

The two biggest markets are Southeast Asia and the Middle East , which account for over 400 million Muslim consumers, he added.

"If the 1.8 billion global Muslim consumers are tapped into, the halal food market has the potential to expand to around US$500 billion a year."

Muhyiddin said expanding the industry to include non-food products such as pharmaceuticals, cosmetics, leather goods as well as hotel and catering services, the global halal market would be estimated at US$2.1 trillion a year.

"There is also a constant demand for halal products from the OIC (Organization of Islamic Conference) countries as well as from pilgrimages during the hajj season in Makkah.

"This immense market has created interest from both Muslim and non-Muslim food-producing countries," he said.

Saudi Investments

The Malaysian minister encouraged Saudi entrepreneurs and traders to invest in his country.  

As Malaysia 's second biggest trading partner in the Middle East, Riyadh had the capacity to be its biggest investor in agriculture and agro-based industry, he said.

Among the areas for investment opportunities are infrastructure; post-harvest activities such as collection, grading, processing and packaging; distribution centers; accreditation facilities; application of new technologies; consultancy services; and training.

"We have also earmarked and identified new sectors with investment potential such as the cultivation of fruits, vegetables and floriculture, ornamental fishes and aquatic paints, seaweed, biotechnology products, specialty new products such as herbs, spices and medical paints, and tuna and deep-sea fishing," Muhyiddin added.

Trade between Saudi Arabia and Malaysia increased by from $212 million in 1990 to $991 million in 2003, with the trade balance almost even.

The food sector is at the top of the trade list as it constitutes 20 percent of total trade.

From 2000 to 2004, the volume of export of foodstuff from Malaysia to Saudi Arabia increased by a whopping 120.3 percent.