As the world continues to grow increasingly interconnected, the global halal market emerges as a powerhouse, projected to surpass a value of US$3 trillion by 2024. At the forefront of this economic surge is the “WHBC Circuit 2023,” a flagship initiative hosted by the Halal Development Corporation Berhad (HDC), slated to take place in London, United Kingdom, this October. Building on the momentum from last year’s successful conference in Australia, the event is set to expand its influence, bridging diverse markets and fostering international collaborations.
The Expanding Scope of WHBC Circuit 2023
Scheduled for October 27th to 28th, the WHBC Circuit 2023 in London unfolds under the theme “Halal Opportunities in a Borderless World.” Celebrating its 15th installment, the event is expected to host a confluence of government representatives, industry titans, and business councils from the UK, Malaysia, the European Union, and other global participants. This year’s circuit zeroes in on three strategic pillars: promoting investment, facilitating trade negotiations, and nurturing talent in the halal industry.
This prestigious event has been recognized as a pivotal gathering for those involved in the halal industry, given its ability to bring together a diverse array of stakeholders from across the globe. Over the years, the WHBC Circuit has not only fostered dialogue but also resulted in tangible business opportunities and partnerships. The 2023 circuit is expected to continue this tradition, with an even greater emphasis on leveraging technology and innovation to address the evolving needs of the global halal market.
Khairul Azwan Harun, Chairman of HDC, delineates the conference’s objectives: “Our focus at the London circuit is not just on immediate outcomes but on long-term engagements. We are committed to addressing critical industry challenges, fostering wealth creation, and propagating expansive opportunities within the halal sectors.” The conference aims to carry forward this vision through sustained collaborations with major industry players post-event, ensuring that the discussions and agreements made during the event translate into actionable outcomes.
Deepening Trade and Investment Ties
The robust trade and investment ties between the UK and Malaysia lay a solid foundation for the conference. Discussions will explore deepening these connections and branching out into new collaborative territories across a myriad of sectors such as food & beverages, pharmaceuticals, cosmetics, supply chains, financial services, and technology, with a special focus on Environmental Social Governance (ESG).
The UK has long been a significant player in the global halal market, with a strong demand for halal products and services, particularly in the food and beverage sector. The WHBC Circuit 2023 seeks to capitalize on this demand by facilitating partnerships between UK-based companies and Malaysian enterprises, which are known for their expertise in halal certification and production. By doing so, the event aims to create a more integrated halal market that can better serve the needs of consumers in both regions.
Moreover, the focus on ESG is particularly timely, given the growing emphasis on sustainability and ethical practices in the global marketplace. As consumers become more conscious of the environmental and social impact of their purchases, businesses in the halal industry are increasingly expected to adhere to these principles. The WHBC Circuit 2023 will provide a platform for companies to share best practices and collaborate on initiatives that promote ESG within the halal sector.
Agenda and Insights
The conference agenda is robust, featuring a series of panels and keynotes from over 40 thought leaders who will cover a wide array of topics:
- Economic Integration and Sustainability: Panels will discuss how resilient economic ties can contribute to a sustainable halal ecosystem and the role of ESG trends in shaping future industry standards. These discussions will delve into how businesses can align their operations with ESG principles while maintaining profitability, thus contributing to a more sustainable and equitable global economy.
- Digital Transformation in Halal Markets: Insights into how digitalization is transforming the halal market landscape, particularly in e-commerce and global trade. With the rapid growth of online shopping and digital platforms, the halal industry is poised to undergo significant changes. The conference will explore the potential of digital tools to enhance the traceability, transparency, and efficiency of halal supply chains.
- Opportunities for Innovation: Sessions will explore emerging opportunities within halal healthcare, tourism, and tech innovations, emphasizing start-up ecosystems. This focus on innovation is crucial as the halal market continues to expand into new sectors, creating opportunities for entrepreneurs and investors to capitalize on the growing demand for halal products and services.
- Navigating Compliance and Legal Frameworks: A crucial discussion on aligning halal practices with international laws and standards, particularly in the UK context. As the global halal market becomes more interconnected, the need for harmonized standards and regulations becomes increasingly important. The conference will address these challenges and explore solutions for ensuring that halal products meet the highest standards of quality and compliance.
The second day of the conference promises to delve deeper into compliance with UK laws, clarifying common misconceptions about halal products, and discussing the global trade landscape for halal goods. This will be particularly valuable for businesses looking to expand their operations into new markets, as they will gain insights into the regulatory requirements and market dynamics that can impact their success.
Extending Malaysia’s Halal Diplomacy
A significant aspect of WHBC Circuit 2023 is its role in promoting Malaysia’s halal diplomacy efforts on a global stage, aiming to bolster the international halal framework. HDC’s Halal Training Institute (HTI) will host numerous sessions to educate on halal practices and certification processes, fostering a deeper understanding among international delegates.
Malaysia has long been recognized as a global leader in the halal industry, with a robust framework for halal certification and a strong commitment to promoting halal practices worldwide. The WHBC Circuit 2023 provides an opportunity for Malaysia to showcase its expertise and continue its leadership role in shaping the future of the global halal market.
The HTI sessions will be particularly valuable for participants from countries that are looking to establish or enhance their halal certification systems. By sharing its knowledge and experience, Malaysia can help to raise the standards of halal certification worldwide, thus ensuring that consumers can trust the integrity of halal products, regardless of where they are produced.
Networking and Collaborations
The conference is not only a hub for discussions but also a dynamic platform for networking. It will facilitate an exchange of ideas and best practices between successful Malaysian entrepreneurs and their UK counterparts, potentially sparking new ventures and collaborations. The importance of networking at such events cannot be overstated, as it provides participants with the opportunity to form connections that can lead to future business opportunities.
In addition to formal networking sessions, the WHBC Circuit 2023 will also feature informal gatherings and social events, allowing participants to build relationships in a more relaxed setting. These interactions can often lead to more meaningful collaborations, as participants have the chance to get to know one another on a personal level, which can foster trust and mutual respect.
Strategic Partnerships
This year, WHBC Circuit boasts a lineup of key strategic partners, including the Halal Food Authority, UK, and leading Malaysian enterprises such as Fraser & Neave Holdings and Ramly Food Processing. These partnerships are pivotal in driving forward the conference’s objectives and ensuring a comprehensive approach to tackling the challenges and opportunities within the halal industry.
The involvement of such prominent organizations highlights the significance of the WHBC Circuit 2023 and underscores its role as a key event in the global halal calendar. By bringing together a diverse group of stakeholders, the conference is well-positioned to address the complex challenges facing the halal industry and to identify new opportunities for growth and development.
Invitation and Participation
Khairul Azwan Harun extends a warm invitation to key decision-makers, diplomatic envoys, industry luminaries, and government officials to engage in this pivotal conference. The event targets a diverse group of delegates from the UK, Europe, Malaysia, Singapore, Turkey, and OIC countries, and aims to attract participation from Africa and West Asia, emphasizing its global outreach and inclusive approach.
With such a wide range of participants, the WHBC Circuit 2023 promises to be a truly global event, offering insights and perspectives from different regions and sectors. This diversity will be one of the event’s greatest strengths, as it will allow participants to learn from one another and identify opportunities for cross-border collaborations that can drive the growth of the global halal market.
A Catalyst for Change
WHBC Circuit 2023 stands poised to be more than just a conference; it’s a catalyst for change, driving the future of the halal industry. It offers an invaluable platform for leaders, innovators, and policymakers to converge, collaborate, and contribute to the shaping of a more integrated and prosperous halal market. For anyone invested in the future of global halal markets, this event promises to be an essential rendezvous, marking another milestone in the journey towards a borderless economic world.
By fostering dialogue, facilitating partnerships, and promoting innovation, the WHBC Circuit 2023 will play a crucial role in shaping the future of the halal industry. Whether you are a seasoned industry veteran or a newcomer looking to make your mark, this event offers a unique opportunity to be part of the conversation and contribute to the growth and development of the global halal market.
Admission for all sessions is chargeable at RM1,000.00 for Malaysian delegates and GBP300 for UK and international delegates. For comprehensive information about WHBC Circuit 2023 and registration details, please visit whbc.hdcglobal.com.
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