In a bold push to diversify its export base and capitalise on global Islamic consumer trends, Bangladesh is setting its sights on becoming a key player in the rapidly expanding halal industry – a sector projected to reach nearly $10 trillion by 2034.
At a high-level seminar titled “Halal Economy 360: Driving Global Growth”, hosted by the Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI), policymakers, business leaders, and experts gathered in Dhaka to chart a strategic path for Bangladesh’s entry into this lucrative market.
With the global halal economy already valued at $3.3 trillion in 2025 and expected to grow at a compound annual rate of 12.42 per cent over the next decade, the stakes are high — and so are the ambitions.
A market beyond apparels
Long reliant on ready-made garments for over 80 per cent of its export earnings, Bangladesh is now looking beyond textiles to sectors where it holds untapped potential.
The halal industry, spanning food, pharmaceuticals, cosmetics, finance, tourism, and lifestyle products, offers a golden opportunity.
Shabbir A Khan, President of the BMCCI, opened the event with a clear message: “Bangladesh must not remain confined to garments. We have the resources, workforce, and religious demographics to become a major supplier of halal-certified goods.”
He projected that with the right policy support, streamlined certification processes, and targeted investments, Bangladesh could realistically achieve $7 to $8 billion in halal exports to Malaysia alone by 2030 – a figure more than 20 times its current export volume to the country.
Currently, bilateral trade between Bangladesh and Malaysia remains heavily skewed.
In fiscal year 2023-24, Bangladesh imported around $2.6 billion worth of goods from Malaysia, including palm oil, electronics, and machinery, while exporting only $293.5 million in return, mostly garments and jute products.
“This imbalance is not sustainable,” said Khan. “But it also reveals an enormous opportunity. Malaysia is not just a trading partner; it is a gateway to the wider ASEAN and global halal market.”
Malaysia’s expertise, Bangladesh’s potential
The seminar was graced by Mohd Shuhada Othman, High Commissioner of Malaysia to Bangladesh, who reaffirmed Malaysia’s commitment to supporting Bangladesh’s halal ambitions.
“Malaysia has spent decades building a world-class halal ecosystem — from certification standards to dedicated economic zones,” he said. “We are ready to share our knowledge, expertise, and networks to help Bangladesh develop its own halal industry.”
Malaysia is widely recognised as a global leader in halal standardisation, with its JAKIM (Department of Islamic Development Malaysia) certification being one of the most trusted in the world.
The country also hosts the annual World Halal Summit and maintains a robust halal export infrastructure.
“The halal economy is not just about faith – it’s about quality, safety, and trust,” the High Commissioner added. “By working together, we can create a South-Southeast Asia halal corridor that benefits both nations.”
Government backs the vision
The chief guest, Chowdhury Ashik Mahmud Bin Harun, Executive Chairman (State Minister) of the Bangladesh Investment Development Authority (BIDA) and the Bangladesh Economic Zones Authority (BEZA), underscored the government’s full backing for the halal sector.
“The government is committed to creating an enabling environment for halal production and export,” he said. “Our goal is to position Bangladesh as a regional hub for halal manufacturing and innovation.”
He pointed out a striking paradox: “Today, most halal products consumed by Muslims worldwide are produced by non-Muslim countries. That is both a challenge and an opportunity for us.”
To reverse this trend, BIDA and BEZA are working on several initiatives, including:
- Establishing dedicated halal economic zones with integrated certification, logistics, and testing facilities.
- Simplifying investment procedures for domestic and foreign halal-focused enterprises.
- Strengthening collaboration with international halal accreditation bodies.
- Encouraging public-private partnerships to scale up production in halal food, pharmaceuticals, and personal care.
“We are not starting from scratch,” Ashik Chowdhury noted. “We already have strong agro-processing capabilities, a young workforce, and growing SME participation in food and herbal products. With strategic intervention, we can rapidly scale up.”
Building the foundation
The seminar featured a keynote presentation by Dr Mominul Islam, Assistant Professor at IUBAT, who outlined a comprehensive roadmap for Bangladesh’s halal growth. His paper highlighted three critical pillars: certification credibility, export readiness, and value-chain integration.
“Without internationally recognised halal certification, we cannot compete,” he warned. “We need a unified, transparent, and JAKIM-equivalent system that global buyers can trust.”
A panel discussion followed, chaired by Syed Alamgir, Adviser at Uttara University’s School of Business, with experts from food processing, logistics, Islamic finance, and regulatory affairs.
Key challenges identified included fragmented standards, lack of cold-chain infrastructure, limited R&D, and insufficient awareness among small producers.
Participants called for a national halal authority, investment in halal research labs, and incentives for exporters who meet international compliance benchmarks.
From vision to action
The event concluded with a vote of thanks by Md. Motaher Hoshan Khan, Secretary General of BMCCI, who described the seminar as a “turning point” in Bangladesh’s economic diversification journey.
“We’ve talked about halal for years,” he said. “Now is the time to act - with coordination, clarity, and commitment.”
As global demand for ethical, clean, and faith-compliant products rises, driven by a Muslim population exceeding 1.9 billion and growing interest from non-Muslim consumers, the halal economy is no longer a niche market. It is a mainstream, high-growth global industry.
For Bangladesh, a country with over 90 per cent Muslim population, abundant agricultural resources, and a burgeoning entrepreneurial class, the message is clear: the halal economy is not just a religious imperative — it’s an economic imperative.
With strategic partnerships, sound policy, and private-sector dynamism, Bangladesh may soon move from being a minor exporter to a major stakeholder in the trillion-dollar halal future.