THE DEPARTMENT of Trade and Industry (DTI) has partnered with the Bangsamoro Autonomous Region in Muslim Mindanao Ministry of Trade, Investments and Tourism to promote the halal industry in the region.
The two have signed a memo that seeks to promote business development in certain Bangsamoro areas, DTI said in a statement on Thursday.
Trade Secretary Alfredo E. Pascual cited opportunities in the $2.3-trillion (P129 trillion) global halal food industry, which is expected to grow by about 50% to $3.4 trillion next year.
He said the law mandates the promotion and development of the local halal industry.
“Acquiring even a tiny bit of this cake — let’s say 0.1 percent or $2.3 billion to $3.4 billion — would still greatly contribute to the country’s economic recovery and growth,” the Trade chief said. — Revin Mikhael D. Ochave
