Bangladesh Missing Out on $3 Trillion Global Halal Market
Certification and infrastructure gaps hinder halal exports. Bangladesh is failing to tap into the $3 trillion global market for halal products, with exports remaining below $1 billion.
Businesspeople cite the absence of a proper ecosystem and an independent authority to issue accredited certifications as the main reasons. The global halal market is projected to reach $9.45 trillion by 2034.
Bangladesh's exports of mostly agro-based products are limited to around $850 million.
Razeev H Chowdhury, senior vice-president of the DCCI, noted that many non-Muslim countries are showing growing interest in halal products due to their quality and hygienic production processes.
The comments were made at an event organised by the Dhaka Chamber of Commerce and Industry (DCCI). Author summary: Bangladesh fails to tap into the global halal market.
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