Bangladesh eyes regional leadership in halal economy: BIDA Chairman

Bangladesh is setting its sights on becoming a regional hub for halal products, with the interim government committed to creating a robust ecosystem to support the halal economy, said Chowdhury Ashik Mahmud Bin Harun, Executive Chairman of both the Bangladesh Investment Development Authority (BIDA) and the Bangladesh Economic Zones Authority (BEZA).

Speaking at a seminar titled “Halal Economy 360: Driving Global Growth” held on Saturday, Ashik emphasised the need for strategic action to position Bangladesh as a competitive force in the $7 trillion global halal economy.

The seminar, organised by the Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI), saw active participation from key stakeholders, including the High Commissioner of Malaysia to Bangladesh, Mohd Shuhada Othman. He highlighted the deep bilateral ties and reiterated Malaysia’s readiness to share its expertise in halal certification, trade facilitation, and policy design.

“This collaboration can yield significant benefits for both nations,” said Othman, pointing to the halal economy as a key driver of inclusive growth.

While Malaysia exported goods worth $2.6 billion to Bangladesh in FY2023–24, Bangladeshi exports to Malaysia stood at just $293.5 million. BMCCI sees halal products as a critical avenue for reversing this imbalance.

BMCCI President Shabbir A Khan projected that with streamlined certification and conducive policy, Bangladesh could achieve $7–8 billion in halal exports to Malaysia alone by 2030. He underscored the halal sector’s vast potential beyond garments, calling it “a crucial driver of international trade and investment.”

Ashik pointed out that much of the world’s halal products are produced by non-Muslim-majority countries—a gap Bangladesh could fill. “This is unfortunate, but it presents a strategic opportunity. With the right initiatives, we can become a key player in the halal supply chain,” he said.

He outlined measures being taken to attract foreign and local investment in halal manufacturing, including infrastructure development in economic zones and regulatory reforms to ease halal certification and export procedures.

The seminar featured a keynote presentation by Dr Mominul Islam of IUBAT, offering a comprehensive roadmap for expanding Bangladesh’s footprint in the global halal market. The global halal food market is expected to grow from $3.3 trillion in 2025 to $9.45 trillion by 2034, driven by a compound annual growth rate (CAGR) of 12.42%.

Syed Alamgir, a respected industry veteran and adviser at Uttara University, chaired a working session that delved into certification frameworks, market access, and consumer trends.

Speakers throughout the event stressed that strong collaboration between government, private sector, and academia is essential to driving innovation and ensuring sustainability in the halal economy.

BMCCI Secretary General Md Motaher Hoshan Khan, along with other panelists, called for proactive policy support, investment incentives, and better marketing strategies to unlock the sector’s potential.

The seminar concluded with an open discussion, where participants expressed optimism about Bangladesh’s capacity to emerge as a regional halal powerhouse, provided concerted actions are taken immediately.