Latest news with #Bangladesh-Malaysia

First Post

Bangladesh's Yunus eyes $5 tn halal market with industrial park pitch to Malaysia

Malaysian officials have said that the global halal products market is currently valued at $3 trillion and is projected to reach $5 trillion by 2030. Among the key players in the halal market are Thailand, Australia, and New Zealand Bangladesh's Chief Adviser Muhammad Yunus has sought the Malaysian government's help to establish a Halal Industrial Park during his trip to the country. Yunus met with the Malaysian halal industry and government officials in Kuala Lumpur on Tuesday to discuss the scope of tapping into the halal market amid its rapid expansion across the world. Malaysian officials have said that the global halal products market is currently valued at $3 trillion and is projected to reach $5 trillion by 2030. Among the key players in the halal market are Thailand, Australia, and New Zealand. STORY CONTINUES BELOW THIS AD 'Bangladesh, home to the world's third-largest Muslim population, has significant potential to join the market, provided it strengthens its infrastructure and certification systems. At present, the Islamic Foundation Bangladesh is the sole body authorised to certify halal products, with only 124 manufacturers certified so far,' the Chief Adviser's office said in a statement. Bangladesh Seeks Malaysia's Support to Establish Halal Industrial Park Kuala Lumpur, August 13, 2025 — Bangladesh has sought Malaysia's assistance in developing a halal industrial park, aiming to tap into the rapidly expanding global halal products market. 'Let's make a move on… — Chief Adviser of the Government of Bangladesh (@ChiefAdviserGoB) August 13, 2025 MoUs signed Yunus met Malaysian Prime Minister Anwar Ibrahim during his three-day visit, where the duo signed a number of MoUs covering areas from health to education. Hailing the Bangladesh-Malaysia relationship as 'a deep bond rooted in history, religion, and cultural empathy,' the two countries have agreed to recruit more skilled Bangladeshi professionals, such as doctors, engineers, security guards, and carers, under a government-to-government framework. Malaysia assured Dhaka that Bangladeshi workers would receive the same social security benefits as Malaysian citizens, and that grievance mechanisms would be accessible in the Bangla language. STORY CONTINUES BELOW THIS AD Dhaka has also urged 'Graduate Pass' visas for up to 10,000 Bangladeshi students to be enrolled in Malaysian universities. Yunus invites Malaysian companies While speaking at a business forum in Kuala Lumpur, Prof. Yunus encouraged Malaysian companies to invest in Bangladesh, emphasising recent reforms designed to make the country more conducive to business. 'Business did not proceed in Bangladesh in the past the way I thought was possible. In New Bangladesh, many things are emerging, and one of those is business possibilities. Bangladesh is trying to become business-friendly in every possible way… I found an unlimited prospect in changing Bangladesh,' Yunus said.