Exploring opportunities in the halal economy: Australia hosts World Halal Business Conference

Starting tomorrow, Australia will host Asia’s largest gathering of halal business leaders at the World Halal Business Conference, the first time it will be held outside of Malaysia.

The conference, themed “Halal Opportunities in a Borderless World”, will be held by Austrade and Global Victoria in conjunction with the Malaysian Halal Development Corporation under the Ministry of International Trade and Industry. It will take place on September 1 and 2 in Melbourne.

The conference “will focus on strategic business initiatives that consist of three main pillars, including investment promotion, trade negotiations and halal skilled talents,” said Hairol Ariffein Sahari, Chief Executive Officer of Halal Development Corporation in Malaysia.

“We will discuss the prevailing issues facing the industry with a view to creating wealth and promoting Halal business opportunities among industry players,” added Mr Sahari.

For the final product to be halal, processes in the production and supply chain, such as food packaging, ingredient sourcing and slaughter, must adhere to Islamic practices. Recent forecasts suggest that the halal economy is expected to reach $7.3 trillion in the next decade, with more than 240 million Muslims living in Southeast Asia alone.

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The two-day conference will allow Australian companies to explore growing halal export opportunities in sectors such as health, beauty, financial services and food. There will be sessions on clarifying misconceptions about halal, opportunities in halal healthcare, and even halal science and innovation.

“From ice cream to vitamins and supplements and even fintech services, halal certification opens up new markets for Australian exporters in Southeast Asia and beyond,” said Paul Sanda, Austrade Senior Trade and Investment Commissioner for Malaysia and Brunei.

“The World Halal Business Conference Circuit offers Australian companies a unique opportunity to learn about the diverse opportunities for collaboration with Malaysian companies that will benefit both our countries and more broadly within the global halal economy.”

He added that the Malaysian government’s decision to host the conference in Australia is a sign of the growing importance of Australian exports to Southeast Asian markets.

“While halal-certified food products are attracting a lot of attention, awareness is growing among Australian business about the opportunities in diverse sectors such as pharmaceuticals, cosmetics, fashion, finance and tourism,” said Mr Sanda.

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This post Exploring opportunities in the halal economy: Australia hosts World Halal Business Conference

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