- The alliance aims to provide halal certification for Brazilian companies as well as promote higher value-added exports
- According to the agreement, an investment of USD 2.84 million will be made over the course of 30 months to promote trade
October 27, 2022- The Arab Brazilian Chamber of Commerce (ABCC) has signed an agreement with the Brazilian Trade and Investment Promotion Agency or ApexBrasil, to promote and boost the exports of Brazilian halal products to Arab countries. Through the agreement, they aim to encourage more Brazilian products in the halal market, particularly higher value-added food products. As part of this, they will implement the ‘Halal do Brasil' project, to advance the industry on a global scale.
The agreement foresees a total of USD 2.84 million worth of investment over 30 months, to diversify the exports. It further includes providing financial aid for Brazilian food companies who wish to receive halal certification for their products. The major goal is to provide certifications for 500 potential Brazilian food and beverage exporters and enable them to engage in the global halal food trade. Furthermore, the agreement also strives to increase Brazilian exports to Malaysia and Indonesia, along with expanding trade with the 22 Arab League nations, as well as increase the sales of halal-certified food to countries with lower Muslim populations, such as France, Germany, and the UK.
Osmar Chohfi, President of ABCC said: “We are pleased to have inked this agreement with ApexBrasil and look forward to boosting the share of Brazilian products in the halal market. We intend to achieve this by leveraging our long-standing partnerships with Islamic countries as well as Brazil's recognition as one of the countries with the best expertise in the production of halal food products, which they have acquired through protein trading since the 1970s. As there is a limited availability of halal-certified products, this cooperation seeks to increase this and promote Brazilian growth in the Islamic markets, by encouraging halal certification among Brazilian enterprises.”
He added that providing halal certification will further promote Brazilian halal food products, since Muslim countries place a strong emphasis on the production of such products with halal materials and processes, as well as hygiene and health. He further highlighted that halal, establishes several guidelines for food as well as for clothing, toiletries, entertainment, cosmetics, tourism, and medications. It also lay down guidelines for the Islamic financial system.
The 2022 State of the Global Islamic Economy report estimates that the global halal market will expand 7.1 per cent by 2025, with 1.9 billion consumers and a value of USD 1.267 trillion annually.
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