Dhaka: Bangladesh has invited Malaysian investors to expand their halal production facilities in the South Asian country and jointly penetrate the fast-growing global halal market. 'By combining our resources, the halal sector would be a natural area for increased partnership between Dhaka and Putrajaya,' the Bangladesh Government's Chief Adviser Prof Dr Muhammad Yunus said in an exclusive interview with Bernama at the end of this three-day official visit to Malaysia.

According to BERNAMA News Agency, Yunus was in Malaysia on the invitation of Prime Minister Datuk Seri Anwar Ibrahim between Aug 11 and 13. He noted that Malaysia's expertise in halal certification and branding, along with Bangladesh's abundant land, labor, and facilities, would be a potent combination to scale up production. 'This positions both countries well to meet the demand for halal products in international markets,' he said.

Yunus emphasized that the halal market is not confined to Bangladesh or Malaysia, but constitutes the global market, alluding to the consumer base for halal products based on the two billion Muslim population globally. According to Future Market Insights Inc.'s projections, the global halal food market is expected to grow from US$1.5 trillion in 2025 to US$3.8 trillion by 2035. This growth is driven by rising demand for clean-label, ethically produced, and hygienically processed food products.

Against such a backdrop and to get things moving, Yunus expressed hope that a delegation of Malaysian investors could visit Bangladesh to explore potential opportunities. 'We can help to facilitate with manpower resources,' he said. Bangladesh is ready to provide investors with facilities and support for halal production, which would make it easier for Malaysian companies to set up factories and to scale up.

Yunus highlighted that Bangladesh's young manpower surplus could offset Malaysia's labor shortage. He remarked that whatever Malaysia is producing, they could shift the factory to Bangladesh because of the availability of workers. 'At the same time, Bangladesh itself is a huge consumer market exceeding 170 million, hence there will always be consumers waiting in line,' he said.

While halal production is a natural area for partnership, Yunus also pointed out that investment opportunities extend to garments, semiconductors, the maritime economy, digital services, and cross-border trade. During his visit, Yunus and Anwar reviewed the progress of Malaysia-Bangladesh ties, focusing on trade and investment, labor, education, tourism, defense, and regional and international developments of mutual interest.

Besides meeting officials from the Department of Islamic Development Malaysia and the Halal Development Corporation, Yunus also met officials and investors from Proton Holdings, Sunway Group, Axiata Group Bhd, and Khazanah Nasional Bhd. Bangladesh is Malaysia's second-largest trading partner and export destination in South Asia. Key exports comprise petroleum products, palm oil, and chemicals, while imports include textiles, footwear, petroleum products, and manufactured goods. In 2024, Malaysia-Bangladesh trade rose 5.1 percent to RM13.35 billion (US$2.92 billion).