Bangladesh Missing Out on $3 Trillion Global Halal Market
Bangladesh is failing to tap into the $3 trillion global market for halal products, with exports remaining below $1 billion.
Certification and infrastructure gaps are hindering halal exports, according to businesspeople. The industry is projected to reach $9.45 trillion by 2034.
- Bangladesh's exports of mostly agro-based products are limited to around $850 million.
- The absence of a proper ecosystem and an independent authority to issue accredited certifications are major obstacles.
Many non-Muslim countries are now showing growing interest in halal products due to their quality and hygienic production processes.
Razeev H Chowdhury, senior vice-president of the DCCI, made this comment at an event organised by the Dhaka Chamber of Commerce and Industry.
Author's summary: Bangladesh struggles to access the global halal market.
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