Over the past two years, plant-based food consumption has grown by 49% across the EU, reaching a total sales volume of €3.6 billion.
Malaysia and Australia collaborate on Halal certified food
2025-05-15
Malaysian Minister of International Trade and Industry Rafidah Aziz stated that the global halal goods market is estimated to exceed 2.5 trillion Australian dollars, with "halal food alone accounting for over 600 billion." She addressed business delegations from both countries at a seminar titled "Opportunities for the Development of Contemporary Halal Food." She said that Malaysia and Australia each have their own strengths: one boasts abundant agricultural, livestock, and fishery resources, while the other boasts an international market for halal products. The two countries should collaborate closely, achieve mutual benefit, and pursue common development. A Malaysian halal food delegation, led by Minister Aziz, visited the three major exporting commercial cities of Sydney, Brisbane, and Perth within a week, meeting with food industry manufacturers and businesspeople and conducting on-site inspections for Malaysian investments.
The Malaysian delegation includes Malacca Governor Ali Rustam, Director-General of the Malaysian Industrial Development Authority, Kanura Karan, and Director-General of the Malaysian External Trade Development Council, Nuharudin Nordin, as well as numerous government officials and prominent business and financial figures. Malaysia will provide Australia with legal regulations, business channels, certification management, and sales experience for halal food production, helping Australian halal food enter the international market. Malaysia is situated between the vast Muslim food market and Australia's extensive food production base, which boasts extensive production experience and advanced technology and equipment. Minister Aziz stated, "Potential halal products from Australia entering the international market include not only beef and mutton, but also seafood, tropical fruits and vegetables, cocoa, and palm oil products, which can be categorized as both everyday foods and health and nutritional foods."
Sydney is the Pacific region's leading commercial port and ranks third globally after New York and London. Minister Aziz said, "During our meetings with New South Wales business representatives, we highlighted the advantages of investing and collaborating with Malaysia. We can help them enter the Islamic finance region of Southeast Asia and West Asia." She explained to Australian business and financial representatives the current state of Islamic banking, which has recently flourished in many regions, reaching record highs last year. Islamic banking, along with the Islamic finance market, has grown at a 13% rate, reaching $34 billion in reserves, compared to a mere 3% a few years ago. Ten years ago, Australian businesspeople were largely indifferent to Islamic economics, but today they are flocking to the market to enter. Islamic finance in Malaysia accounts for 20% of the country's financial management and is growing rapidly. She advised the Australian financial community, "Australian banks, especially those based in Sydney, should not miss this opportunity. Malaysia, with its mature experience, is willing to assist Australian counterparts in expanding into the Islamic finance market, with a focus on Asia and the Middle East."
The Malaysian Islamic business and finance delegation, led by Rafidah Aziz, brought new information about the global halal economy to neighboring Australia, fostering bilateral cooperation in developing the international halal food industry and accessing Islamic banking capital flows. The international halal economy has become a formidable force that cannot be ignored.