Malaysian International Trade and Industry Minister Mustapa Mohamed voiced his country’s willingness to have cooperation with the Islamic Republic of Iran in the field of halal industry.
Following a meeting with Iran Chamber of Commerce, Industries and Agriculture and Mines President Gholam Hossein Shafei, he said that Iran and Malaysia can have joint investment in production oh Halal food, Halal medicine and Halal cosmetics.
Talking to reporters, the Malaysian minister said that in his talks with Iran Chamber president they discussed ways for boosting cooperation and financing joint projects through Islamic banks.
The global halal industry is estimated to be worth more than $2 trillion, including a $1 trillion food market which is expanding, Gholam Hossein Shafei said asking for utilizing the new grounds emerged following the recent visit by President Hassan Rouhani to Malaysia.
“Iran Chamber is ready to send a delegation from selected Iranian industries to discuss expansion of ties and cooperation with Malaysian companies,” Shafei added.
Iran Chamber president further said the two Muslim countries need to grab a significant share of the Halal market in the world.
Major Muslim countries such as Malaysia, Indonesia, Brunei, Turkey, Iran and Pakistan as well as non-Muslim nations like Japan, New Zealand and Britain are jockeying for position in the market.
Mustapa Mohamed said he is in Tehran to follow up on the “important decisions” for development of bilateral trade made by Iranian President Rouhani and Malaysian Prime Minister Minister Najib Razak in their meeting in Kuala Lumpur back on October 7.
President Rouhani, who visited Malaysia during a tour of Southeast Asia, said at the time that Tehran and Kuala Lumpur are resolved to restore their bilateral relations to pre-sanctions levels and then promptly double it.