Bangladesh Integrates with OIC Food Consortium, Anticipating Surge in Halal Sector

As the global appetite for halal foods intensifies, Bangladesh, backed by its top trade consortium, is setting its sights on a more significant slice of this booming market, recently confirming its entry into the International Islamic Food Processing Association (IFPA).

Founded in the United Arab Emirates, the IFPA operates under the aegis of the Islamic Organization for Food Security (IOFS). Its mission? To stimulate trade, forge investment links, and establish a seamless network between agricultural and food-related enterprises spanning the member states of the Organization of Islamic Cooperation (OIC).

This strategic alliance was solidified on Monday in Bangladesh’s capital, Dhaka, where representatives from the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) officially signed their commitment to the association.

Sitting down with us, Mohammad Amin Helali, the FBCCI’s Senior Vice President, emphasized the monumental prospects this membership unlocks for Bangladeshi entrepreneurs. The global halal food industry is currently pegged at an impressive $2 trillion and, according to projections, is on course to more than double within half a decade.

“More than ever, halal foods are resonating with global consumers. But, ‘halal’ isn’t just a label – it signifies food safety, purity, and an absence of harmful elements. Its rapidly expanding universal acclaim is a testament to this,” Helali remarked.

Through this partnership, Bangladeshi halal-centric enterprises stand to gain not just visibility but also financial avenues, ranging from tailored loans to potential grants. Furthermore, these businesses will receive continuous updates on the evolving guidelines surrounding halal foods, grounded in Islamic jurisprudence.

A feather in Bangladesh’s cap is the existing validation it’s Standard and Testing Institution holds from the IOFS. This accreditation allows the institution to bestow the crucial halal certification on food products, further reinforcing the nation’s standing in the halal industry.

But what’s the global landscape of the halal market? Interestingly, while halal corresponds to food permissible under Islamic law, the international market, particularly for halal meat, is largely commandeered by non-OIC nations.

Helali elucidated, “Two of the biggest players in the halal meat market are India and Brazil, neither of which are predominantly Muslim. If we can align with, and perhaps exceed, the IFPA’s stringent standards for halal, Bangladesh is well-poised to make significant inroads in this industry.”

By integrating and adhering to the rigorous halal food production protocols, he foresees a promising future for Bangladeshi producers, one where they gain a formidable presence in the international arena, notably in halal-dominant markets like the Middle East.