Business and Economy
PH halal export seen to grow to USD1.4B in 2018
The Philippines still has a small share in the global market for halal products despite having a captured market, a large population of Muslims in the southern part of the country.
(PNA photo)
MANILA— The country’s halal export revenues for next year is seen to grow to USD1.4 billion from the current USD800 million outbound sales, Department of Trade and Industry (DTI) Assistant Secretary Abdulgani Macatoman told reporters.
Macatoman said with the Republic Act No. 10817 instituting the Philippine Halal Export Development Program, the country can be more competitive to play in the USD3.2-trillion halal global market and is expected to be a USD10-trillion market by 2030.
“Since the IRR was signed recently, we can go full blast in developing our halal industry,” he said in Filipino.
He said that Marawi City, which became a battle ground between government troops and terror groups, has a big potential to be a halal hub.
“We can have economic zone in Marawi for halal, with its vast land and climate,” Macatoman said.
The DTI official added that there were Gulf Cooperation Council countries looking at investing in the Philippines, in which putting up halal economic zones could be their potential investments in the country.
The Philippines still has a small share in the global market for halal products despite having a captured market, a large population of Muslims in the southern part of the country.
“Thailand and Singapore for example, they are not a Muslim country but their share in the halal industry is by billions. The Philippines, we have captured market with our Muslim brothers in the country, has small share in the halal industry,” Macatoman said in Filipino.
Current halal products for exports made in the Philippines are mostly canned goods like sardines, which are mostly for Middle East countries.
“We expect to increase our manufacturers and producers of halal products to increase our exports not only in Muslim countries in Middle East but also in Southeast Asia and Africa,” Macatoman said.
He said that 32 percent of the world’s population is Muslim.
