Halal cooperation between Vietnam

The Letter of Intent on Halal Cooperation helps address one of the major difficulties faced by domestic businesses when exporting to the Malaysian market regarding Halal certification.

Within the framework of the official visit of General Secretary To Lam and his wife to Malaysia from November 21-23, 2024, with the approval of Minister of Industry and Trade Nguyen Hong Dien, the Asia-Africa Market Department (Ministry of Industry and Trade) and the Halal Cooperation Agency, under the Malaysian Ministry of Investment, Trade and Industry, signed a Letter of Intent on Halal cooperation.

Regarding the significance and importance of this Letter of Intent, the Head of the Asia-Africa Market Department stated that the Letter of Intent will be an important document contributing to the results of General Secretary To Lam 's visit to Malaysia and will serve as a guideline for implementing practical cooperation activities in this field.

In Malaysia, on November 22nd, with the approval of Minister of Industry and Trade Nguyen Hong Dien, the Asia-Africa Market Department (Ministry of Industry and Trade) and the Halal Cooperation Agency, under the Malaysian Ministry of Investment, Trade and Industry, signed a Letter of Intent on Halal cooperation. Photo: Mai Anh

Mr. Le Phu Cuong, Commercial Counselor of the Vietnamese Trade Office in Malaysia, also acknowledged that the recently signed Letter of Intent is of significant importance, supporting the recognition of the common goals of both sides in training, organizing exhibitions, workshops, and seminars on Halal products in Vietnam and Malaysia. This activity will not only help improve businesses' understanding of exporting Halal products to the Malaysian market but also to the markets of Muslim countries in general.

" To date, only about 1,000 businesses exporting to the Malaysian market have Halal certification for approximately 3,000 products. This agreement will help address one of the major difficulties faced by Vietnamese businesses exporting to the Malaysian market, which is Halal certification," Counselor Le Phu Cuong informed, emphasizing that the potential for economic and trade cooperation between the two countries, including in the energy sector and Halal products, is still very large. However, to make this cooperation more substantive and effective, both sides need to further promote trade activities, connect businesses to promote each other's products, and at the same time, actively seek and cooperate in areas where both sides have strengths.

The letter of intent will help address one of the major difficulties faced by Vietnamese businesses exporting to the Malaysian market: Halal certification. Photo: Mai Anh

Notably, Halal cooperation between Vietnam and Malaysia has always been emphasized by high-level leaders in bilateral meetings and contacts. Previously, during the official visits of Prime Minister Muhyiddin Yassin to Vietnam in March 2021 and Prime Minister Ismail Sabri Yaakob in March 2022, leaders of the two countries focused on discussing expanding cooperation in the development of Halal services, logistics, Islamic finance and banking, tourism and hospitality services friendly to Muslims, healthcare services, and Halal beverages.

Regarding the Ministry of Industry and Trade, most recently, within the framework of the 4th Joint Committee Meeting on Trade between Vietnam and Malaysia held in Hanoi in July 2024, Minister Nguyen Hong Dien and the Minister of Investment, Trade and Industry of Malaysia affirmed that Halal is a potential area of ​​cooperation with a crucial role, not only in increasing bilateral trade between Vietnam and Malaysia but also in helping businesses from both sides exploit opportunities to promote trade with other markets.

Malaysian Minister of Investment, Trade and Industry (MITI) Zafrul Abdul Aziz stated that Halal industrial cooperation between Vietnam and Malaysia could help Vietnamese goods reach nearly 2 billion Muslims globally, representing over 24% of the world's population. He affirmed Malaysia's readiness to share and support Vietnam in enhancing its capacity within the Halal value chain. Specifically, this includes producing Halal-certified products, which require expanded control from origin and source to retailers, restaurants, online shopping, and ultimately to the end consumer.

Assessing Vietnam's potential and advantages in developing the Halal industry, the Malaysian Ambassador to Vietnam, Dato' Tan Yang Thai, stated that, with its strategic location in Southeast Asia, close to major Muslim markets such as Malaysia, Indonesia, and Singapore, Vietnam has many opportunities for trade and export of Halal products.

Furthermore, Vietnam has a diverse and developed agricultural sector with many types of crops and livestock, providing a solid foundation for the Halal food industry. If a certification process is established, Vietnamese products will be suitable for the Halal market.

Furthermore, the tourism industry also presents opportunities for Vietnam to become a popular destination for Muslim tourists. By further developing Halal-certified tourism services and products, Vietnam can attract even more tourists from the Muslim world, significantly boosting tourism revenue.

According to economic experts, cooperation between Vietnam and Malaysia in the Halal industry not only leverages each other's strengths but also creates a symbiotic relationship across borders. This includes enhanced market access, adherence to international standards, and the promotion of Halal innovation as initial steps. Malaysia supports training for Vietnamese localities and businesses on Halal production processes and certification.

Malaysia is currently Vietnam's second-largest trading partner in ASEAN (after Thailand) and 11th largest globally. Vietnam is Malaysia's third-largest trading partner in ASEAN, while Malaysia is Vietnam's second-largest investor in ASEAN (after Singapore) and ranks 11th out of 143 countries and territories investing in Vietnam.

2025 will mark the 10th anniversary of the Strategic Partnership (August 2015-August 2025) between the two countries. Both countries are continuously striving for more comprehensive and closer cooperation in all fields, from politics and security to defense and economics. In particular, the development of the Halal industry has been identified as a priority area, with the expectation of creating golden opportunities for both sides.

Source: https://congthuong.vn/hop-tac-halal-giua-viet-nam-malaysia-dau-moc-moi-tao-dot-pha-thuong-mai-song-phuong-360390.html