Dhaka: Commerce Minister Khandakar Abdul Muktadir has emphasized the necessity for Bangladesh to reduce its dependency on traditional export products and to explore emerging sectors by developing a robust and globally competitive halal ecosystem, drawing lessons from the ASEAN countries' experiences. He made these remarks during a seminar titled 'Halal Ecosystem in the ASEAN Region: Prospects for Bangladesh,' organized by the Bangladesh Institute of International and Strategic Studies (BIISS).
According to United News of Bangladesh, the minister highlighted that the halal economy should not be confined to food and beverages alone. It has transformed into an expansive global economic system that includes not only food but also pharmaceuticals, cosmetics, modest fashion, tourism, logistics, technology, finance, and international certification.
Minister Muktadir pointed out the importance of enhancing domestic production capacity to boost exports, which necessitates both local and foreign investments while ensuring a safe and attractive environment for investors. He noted that preferential access to international markets is pivotal for attracting investment, and that the government is actively working to establish free trade agreements (FTAs), preferential trade agreements (PTAs), and economic partnership agreements (EPAs) with various countries. This is particularly crucial for maintaining Bangladesh's export advantages post its transition from the least developed country (LDC) category.
The minister also underscored the need for an independent, reliable, and internationally recognized halal certification system to capitalize on the burgeoning global halal market. Such a system, he argued, would bolster international confidence in Bangladeshi products and facilitate the country's entry into new markets.
Speakers at the seminar noted that Bangladesh's export sector has long been reliant on the readymade garment industry. To sustain competitiveness in the evolving global trading landscape, the country must diversify its products and markets, with the halal economy presenting substantial opportunities. They emphasized the necessity of an integrated system encompassing production, quality control, and certification to penetrate the global halal market.
Participants at the seminar also cited Malaysia's halal ecosystem as a beneficial model for Bangladesh. They pointed out Bangladesh's substantial domestic market and strong capabilities in agriculture, food processing, pharmaceuticals, leather, and garments, which could enable the country to become a significant player in the global halal supply chain.
The seminar outlined five strategic priorities for making Bangladesh's halal sector globally competitive: establishing an internationally recognized national halal assurance framework; developing specialized halal industrial clusters with state-of-the-art laboratories and logistics facilities; upgrading existing industries to meet international standards; involving small and medium enterprises, researchers, and young entrepreneurs; and promoting a 'Bangladesh Halal' brand globally through economic diplomacy.
The event commenced with a welcome address by BIISS Director General Maj Gen A S M Ridwanur Rahman, while BIISS Research Director Dr Mahfuz Kabir presented the keynote paper.