Pakistan eyes $200m boost through halal meat exports to Malaysia

For coming into the booming global halal economy, Pakistan’s Minister of National Food Security and Research Rana Tanveer Hussain said on Monday that the country should look forward to halal meat exports for its economic growth.

During a recent meeting with representatives of different ministries and departments involved in export promotion, the minister laid that Pakistan is in discussion with Malaysia for importing halal meat for export purpose that could bring exports of up to $200 million within the period of five years.

“The trade volume would be $100m if approved, but if we speak in terms of projected, value-added gloabl totals, it could amount to as much $200m in the next five years”, Hussain observed. In the following manner: Such a partnership holds benefits for both Pakistan as well as Malaysia.

Strengthening Bilateral Trade

The proposed deal comes after the meeting during the Malaysian Prime Minister’s recent tour in Pakistan where both countries discussed enhancement of cooperation in other fields of economy such as halal trade, agriculture, energy, information technology and commerce.

Currently, Pakistan occupies the third-largest position in Malaysia’s South Asian trading partners, and the halal meat has been viewed as a promising field.

Maintaining Global Standards

It was equally emphasized by Minister Hussain that meat industry of Pakistan conforms to the international halal standards and is up-to-the-mark capable of delivering the quality halal meat products to the international markets. He said the producers in Pakistan fit the requirements of Malaysia’s import standards and the demands of its consumers.

Also at the meeting, speaking in line with the go-slow on the halal meat initiative were Minister for Commerce Jam Kamal Khan and the Prime Minister’s Advisor on Industry Haroon Akhtar Khan.

Private Sector Engagement and MoUs

Other intervention statements were from the Pakistan Malaysia Business Council (PMBC) and the Malaysia Pakistan Business Council (MPBC). Furthermore, both organs are in the process of negotiating for MoU to enhance trading relations to promote the halal economy.

The proposed MoU would not only enhance both institutional cooperation but also bilateral business to business contracts, investments and cross-border chains in the field of halal meat and related industries.

A Gateway to the $3 Trillion Global Halal Market

This strategic focus to export meat particularly the halal Awareness makes Pakistan well positioned to penetrate the global halal market that currently stands at over $3 trillion, within the meat and poultry products a large demand with in Southeast Asia and the Middle East.

If Pakistan is strategically placed and correctly engages in such an international partnership with Malaysia, this type of market could prove beneficial for future agreements within the realm of halal trade for the local farmers, meat processors and exporters.