President Ferdinand Marcos, Jr., accompanied by Speaker Ferdinand Martin Romualdez, Senator Mark Villar, and other key officials, met with Farm Fresh Milk Berhad Malaysia CEO Loi Tuan Ee during his three-day state visit to Malaysia. This meeting signifies the collaboration between the Philippines and Malaysia in exploring the potential of the Halal industry, which holds great promise for job creation and business growth in both countries.
Speaker Romualdez emphasizes the significance of this agreement, stating that it will lead to the creation of more jobs and business opportunities for the people. The Philippines and Malaysia are committed to convening the next Philippines-Malaysia Joint Commission meeting, with a focus on exploring cooperation in the Halal industry.
The Halal market has shown tremendous growth, with a projected market size of US$4,177.3 billion by 2028. Speaker Romualdez acknowledges the immense potential of the Halal industry and highlights Malaysia’s expertise in this sector. Malaysia will provide training programs for Philippine personnel and officials, particularly in empowering regions like the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) and other areas of cooperation.
The forthcoming joint commission meeting will serve as a platform for detailed discussions on various areas of cooperation, including the Halal industry, transnational crimes, agriculture, Islamic banking, education, tourism and culture, sports, and the digital economy.
Overall, this collaboration between the Philippines and Malaysia in the Halal industry is a significant step forward in fostering economic development, investment opportunities, and reforms for a more business-friendly Philippines.
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