The Arab Brazilian Chamber of Commerce (ABCC) has signed an agreement with the Brazilian Trade and Investment Promotion Agency (ApexBrasil), to promote and boost the exports of Brazilian halal products to Arab countries.
The agreement aims to encourage more Brazilian products in the halal market, particularly high value-added food products. As a part of this, the ‘Halal do Brasil’ project will be implemented, to advance the industry on a global scale.
A total of $2.84 million worth of investment is expected over a period of 30 months, it further includes providing financial aid for Brazilian food companies who are seeking halal certification for products.
The major goal is to provide certifications for 500 potential Brazilian food and beverage exporters to enable them to be able to engage in global food trade.
Furthermore, the agreement intends to increase Brazilian exports to Malaysia and Indonesia along with expanding trade with 22 Arab League nations, as well as increase sales of halal-certified food to countries with lower Muslim populations such as France, Germany and the UK.
“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,” said Osmar Chohfi, President of ABCC.
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.
The 2022 State of the Global Islamic Economy report estimates that the global halal market will expand 7.1 percent by 2025, with 1.9 billion consumers and a value of $1.267 trillion annually.
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