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“By pooling our resources, the halal sector could be the most natural area for strengthening partnerships between Dhaka and Putrajaya,” Professor Yunus said in an exclusive interview with Malaysia’s news agency Bernama at the end of his three-day official visit.
From August 11 to 13, Professor Yunus visited Malaysia at the invitation of Malaysian Prime Minister Anwar Ibrahim.
The Chief Adviser noted that Malaysia’s expertise in halal certification and branding, combined with Bangladesh’s abundant land, labor force, and infrastructure, could play a significant role in boosting halal product manufacturing.
“This will position both countries strongly to meet the global demand for halal products,” Professor Yunus said.
The interview was conducted by Bernama’s Editor-in-Chief Arul Rajoo Durar Raj, accompanied by International News Service Editor Bhun Miaw Ping and Bernama Economic Service Assistant Editor Kisho Kumari Susedaram.
Professor Yunus emphasized that the halal market is not limited to Bangladesh or Malaysia but is a global market with approximately 2 billion Muslim consumers worldwide.
According to a forecast by the market research firm Future Market Insights Incorporated, the global halal food market is expected to reach USD 1.5 trillion in 2025, growing to USD 3.8 trillion by 2035.
The report from the market consultancy firm highlights that the rising demand for clean-labeled, ethically produced, and health-conscious processed food products is the primary driver of this growth.
In this context, Professor Yunus expressed hope that a delegation of Malaysian investors would visit Bangladesh to explore potential opportunities and facilities. He said, “We can assist in providing the necessary workforce.”
The Chief Adviser assured that Bangladesh is ready to offer the necessary facilities and support to enable Malaysian companies to establish factories and expand production for halal products.
“We will provide all facilities, particularly the supply of workers for halal product manufacturing. Set up factories in our region, and we can provide whatever is needed. This is a rapidly growing industry, and we must seize this opportunity,” said the Nobel Peace Prize-winning economist.
Professor Yunus further noted that Bangladesh’s surplus young workforce could help address Malaysia’s labor shortages.
“Malaysia can relocate the factories producing these products here because you need workers, and Bangladesh has workers. At the same time, Bangladesh itself is a vast consumer market of over 171 million people, where there will always be buyers for products,” he said.
While halal production is a natural area for collaboration, Professor Yunus highlighted investment opportunities in other sectors, including the garment industry, semiconductors, maritime economy, digital services, and cross-border trade.
“The halal market is not confined to Bangladesh or Malaysia; it is a global market with approximately 2 billion Muslim consumers,” said Muhammad Yunus, Chief Adviser of the interim government.
During the visit, Professor Yunus and Anwar Ibrahim reviewed the progress of Malaysia-Bangladesh relations, emphasizing trade and investment, labor, education, tourism, defense, and mutual interests in regional and international matters.
Professor Yunus also met with officials from Malaysia’s Islamic Development Department and Halal Development Corporation, as well as representatives from Proton Holdings, Sunway Group, Axiata Group Berhad, and Khazanah Nasional Berhad.
Bangladesh is Malaysia’s second-largest trading partner and export destination in South Asia. Malaysia’s main exports to Bangladesh include petroleum products, palm oil, and chemicals, while Bangladesh exports ready-made garments, footwear, petroleum products, and other manufactured goods.
In 2024, Malaysia-Bangladesh trade grew by 5.1%, reaching 13.35 billion Malaysian Ringgit (USD 2.92 billion).
