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ROMUALDEZ HAILS PH-MALAYSIA HALAL TIE-UP

July 27, 2023 Jester P. Manalastas 238 views

THE partnership established between the Philippines and Malaysia in the Halal industry is very commendable according to Speaker Ferdinand Martin Romualdez.

As he accompanied President Ferdinand Marcos Jr. in his visit to Malaysia, Romualdez said he was elated over the partnership that will create more jobs and business opportunities.

Marcos, has announced in a joint press conference with Malaysian Prime Minister Anwar Ibrahim that they agreed to convene the next Philippines-Malaysia Joint Commission meeting to discuss priority cooperation in areas of mutual interest, including in the Halal industry.

“The agreement between the Philippines and Malaysia to cooperate in this vital sector undoubtedly signifies a significant step towards the creation of more jobs, as well as livelihood and business prospects of our people,” Romualdez said.

He noted that according to market research, the global halal food market size reached US$ 2,221.3 billion in 2022 and is expected to reach US$ 4,177.3 billion by 2028.

“The Halal industry holds immense potential. By working together, we can capitalize on the Halal market’s vast opportunities, creating new avenues for trade, investment, and employment,” Romualdez added.

Malaysia, one of the leading Halal industries in the world, has offered its expertise to train Philippine personnel and officials in this sector, particularly those in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), as well as in other areas of cooperation.

Likewise, the partnership between the two countries in the Halal industry forged during the state visit of Marcos in Malaysia will bolster the competitiveness of our businesses, particularly in the agri-food sector.

As the leader of the House of Representatives, Romualdez reiterated his commitment that the chamber is willing to consider measures that would help our country benefit from the revitalized ties between the Philippines and Malaysia.