It needs no emphasising that the existing policies implemented by the government over the last years have been fruitful towards boosting the country’s export earnings. However, more support for other potential products on the part of the government can help export earnings rise further.
Hence, it is encouraging to note that Bangladesh Standards and Testing Institution (BSTI) has decided to issue halal certificates of food products and cosmetics to increase product acceptance and export. Global buyers do not know whether the products that Bangladesh is exporting are being produced halal or not. BSTI has, therefore, taken an initiative to issue halal certificates.
Bangladesh has the potential to be a major player in the global halal market and in this regard, the government should gear up efforts to expand the market of Bangladeshi halal products. Bangladesh will have to explore the potential of halal food industry to diversify its export basket.
There is a need to conduct adequate
research on halal products and
expand their horizon
Halal products have a huge demand in the global market, even in the European market because of their distinct quality. There are about 1.5 billion Muslims around the world who prefer to consume halal foods. Bangladesh can earn huge foreign currencies by exporting these halal products to different countries. To this end, the government should take necessary steps to grab the promising global market of halal products.
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New Zealand, Australia and Brazil are leading suppliers in halal market and we believe with necessary policy support, Bangladesh can become a giant global player in exporting halal products
The government is planning to strengthen the standardisation of halal products for maintaining global standard and in order to do this the country should accelerate the halal certification process. Also, there is a need to conduct adequate research on halal products and expand their horizon.