In a world characterized by increasing cultural diversity and globalization, the demand for halal products continues to surge. Halal, a term that signifies products and practices permissible under Islamic law, has gained global recognition as a symbol of quality and trust. In a bid to tap into this burgeoning market, the Taiwan Halal Center, in collaboration with eight Taiwanese companies, made a significant appearance at the 2023 Malaysia International Halal Showcase (MIHAS). This event, held at the Malaysia International Trade and Exhibition Centre (MITEC) in Kuala Lumpur, has become a focal point for the promotion of Taiwanese halal products on the international stage.
Facilitating Market Entry
Under the umbrella of the Taiwan External Trade Development Council (TAITRA), the Taiwan Halal Center has been instrumental in facilitating the market entry of Taiwanese products into the global Muslim market. This initiative began in 2017, with the Taiwanese government’s commitment to promoting Muslim-friendly products. Since then, more than 1,000 local companies have obtained halal certification, marking a significant stride in ensuring product compliance with Islamic dietary laws.
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Taiwan Trade Center Kuala Lumpur Director Eva Peng has played a pivotal role in spearheading this initiative. She highlighted the proactive approach of Taiwanese companies, stating that they have actively participated in various trade shows and exhibitions to foster business development in Malaysia. Their ultimate goal is to not only capture the Malaysian market but to extend their reach and promote Taiwanese halal products worldwide.
World of Opportunity
The Muslim market represents a substantial opportunity for growth, particularly for the Taiwanese food and cosmetic industries. Malaysian Prime Minister Anwar Ibrahim emphasized the potential of the global halal products market, estimating it to reach a staggering US$2.4 trillion by 2024 in his opening remarks at MIHAS. This projection underscores the immense potential for Taiwanese businesses in this sector.
Taiwan Halal Center’s Role
The Taiwan Halal Center has been a driving force behind Taiwan’s halal product expansion. With a mission to ensure Taiwanese products meet the rigorous standards of halal certification, the center acts as a bridge between local companies and the global Muslim market. Through meticulous certification processes and support services, they facilitate the export of diverse Taiwanese products, ranging from food and beverages to cosmetics.
Taiwanese Companies Join the Global Stage
Taiwanese companies have enthusiastically embraced the opportunity to showcase their halal products at events like MIHAS. Their participation demonstrates a commitment to quality and compliance with halal requirements. By leveraging these international platforms, they aim to build strong relationships with distributors, retailers, and consumers in Malaysia and beyond.
Halal Market’s Expanding Horizon
The global halal market’s rapid expansion has not gone unnoticed by businesses worldwide. Recognizing the growth potential, Taiwanese entrepreneurs are seizing the opportunity to diversify their product offerings. This evolution transcends mere dietary preferences, extending into the beauty and personal care sector, where halal cosmetics are gaining prominence.
Confluence of Opportunities
MIHAS 2023 has emerged as a convergence point for over 1,014 companies from 44 countries. This global platform provides Taiwanese businesses with a unique opportunity to network with industry peers, establish partnerships, and explore new markets. The event is anticipated to attract over 35,000 buyers, further solidifying its status as a key driver of halal product trade.
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The Taiwan Halal Center’s collaboration with eight Taiwanese companies at MIHAS 2023 marks a significant milestone in Taiwan’s journey to capture the global Muslim market. With a strategic approach and unwavering commitment to quality and compliance, Taiwanese businesses are poised to make a lasting impact on the halal industry. As the world recognizes the immense potential of the halal market, Taiwan stands ready to contribute to its growth while fostering cultural understanding and economic opportunities on a global scale.