KUCHING: The Shaanxi Halal Food Chamber of Commerce and Malaysia-Shaanxi Business Council signed a Memorandum of Understanding (MoU) yesterday at the 13th World Islamic Economic Forum (WIEF) to establish a cooperative relationship for the development of Halal-related economic opportunities for both Malaysian companies to China and Chinabased companies to Malaysia.
“This cooperation solidifies the appetite of companies in the halal space for cross-border collaboration. Malaysian companies are interested to do business in China due to the high demand for halal products and services life food products, cosmetics and skincare, pharmaceuticals, and logistics,” said Dato’ Joseph Kow, President of the Malaysia-Shaanxi Business Council.
“The Malaysia-Shaanxi Business Council is set up to facilitate Malaysian halal-based businesses to penetrate into the China market, with the assistance of the Shaanxi Halal Food Chamber of Commerce, which is one of the leading business association set in a fast – growing halal market,” added Kow.
China is one of the world’s fastest growing markets, with a halal market valued at USD21 billion with an annual growth rate of 10 per cent. “China has a robust domestic halal market. For example, Xi’an, the capital of the Shaanxi province, produces halal products for consumers in other parts of China. Some even export to other countries,” said Tie Qun Ping, President of the Shaanxi Halal Food Chamber of Commerce.
“Moving forward, we aim to be more inclusive with the 5,000 members that we have in the Shaanxi Halal Food Chamber of Commerce. We can only grow faster and more effectively by collaborating with other markets. We look forward to working with halal-based Malaysian companies through the Malaysia- Shaanxi Business Council seeing as how halal products in Malaysia are highly reputable because halal certification in Malaysia is globallyrecognised due to its stringent standards,” added Tie.
The Shaanxi Halal Food Chamber of Commerce and the Malaysia- Shaanxi Business Council will actively collaborate to develop halal trade ties so that companies in the halal space in both Malaysia and China are able to execute business activities at an optimum level.
The two business bodies will organise business forums for interested Malaysian-based companies and Chinese-based companies for the purpose of establishing economic relationships, organise round table discussions between Malaysian and Chinese-based companies for the development of halal-based businesses and build long term cooperation network for the understanding of Halal requirements for Malaysian and China-based companies through training programmes.
“This is an interesting time for Malaysian and Chinese businesses to thrive through strategic collaboration with one another. Through the “One Belt, One Road” initiative, the halal economy’s growth between these two countries is set for an interesting time,” said Kow.
