Issue of January 6, 2019
     
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MSMEs told to explore global halal market
by Press release

The government has urged micro, small, and medium enterprises (MSMEs) to take advantage of the huge under-tapped opportunities in the multi-trillion dollar global halal market.

“When you say growing the export, we need to diversify because recent study shows napaka-limited ng spread ng export. On the broader term, I must say that in diversifying export, we need first to look into new sectors like halal products,” Trade Sec. Ramon Lopez said.

Lopez cited Singapore, which is making halal as part of its domestic mainstreaming.

“They are also empowering their manufacturers to have halal-certified products, making them ready for the export market. That is what we have to do. We also have to start increasing awareness on the market and the production of halal-certified products locally to prepare us to export more halal products,” he noted.

The trade chief said once certified, MSMEs can introduce more halal products and services to the market.

“When you say halal, you can also look at not only products (but) even services like tourism and its related services. If it is tourism-related, they are like dollar-revenue generators as well,” he added.

Lopez said the halal market, with an estimated value of $3.2 trillion, remains to be under-tapped.

“Let's increase the marketability of halal products. It is not related to religion. To us, it is a way of life. Halal connotes purity, cleanliness, and high quality process and products, positive attributes that will really popularize the use of halal. That’s on the broad sense of diversifying,” he added.

In terms of manufactured goods, Lopez identified the country’s top 10 exports, which are electronics, machinery and transport equipment, metal components, ignition wiring set, aircrafts and ships or ships-related parts, fresh bananas, cathodes and sections of cathodes, other mineral products, electronics, and gold.

“They are heavily concentrated on these products. What we want is really to diversify and scale up the other sectors and the other products,” he said.

 
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BUSINESS
Mayor thanks taxpayers for promptly paying their dues

Sagada partners w/ private inns, homestays in info dissemination

Cordillera fish production up by 12 percent via aquaculture

PDIC raises P72.1 M from sale of assets thru public bidding

DOE to oil players: 2nd tranche of excise not for 2018 oil stocks

Furniture makers eye local, high-end niche markets abroad

Japan remains top ODA source in 2018

FEF backs property valuation reforms

Unemployment rate down by 4 percent – PSA 2018 report

EU limits use of 33 harmful substances in textile trade

Logistics players seek review of accreditation requirements

Solar panels owners told to follow rules to ensure safety


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