Cooperation on Standards and Quality of Vietnam – UAE: Facilitating the Halal business community
The Vietnam Directorate for Standards, Quality, and Quality and the UAE Directorate for Standards, Quality have just signed a memorandum of understanding. This is an important legal framework to help Vietnamese businesses access the global Halal food market in general, as well as the UAE and Gulf markets in particular.
The great demand for Halal food
Recent reports by many international organizations have affirmed the huge potential of the global Halal market (providing standard products and services to Muslims). There are nearly 2 billion Muslims in the world with halal food spending of about $1.4 trillion by 2020; it is forecast to increase more than 10 times to $15 trillion by 2050.
The halal market is growing fast, in addition to food also expanding to pharmaceuticals, cosmetics, services… across continents from Asia, the Middle East– Africa, to Europe and the Americas.
The demand for Halal products has increased sharply not only because of the rapid growth of the Muslim population, but also reflects the trend of many non-Muslims in major economies such as China, Japan, the US, the EU, etc. More and more people prefer Halal products due to meeting standards of food hygiene and safety and the environment… Among the Muslim countries with great demand for consumer goods, the United Arab Emirates (UAE) UAE), Dubai, Kuwait, Malaysia, Indonesia… These are the key markets of Vietnamese goods.
Currently, the UAE is the second-largest economy in the Middle East and is the region’s commercial and financial hub. The country is also the world’s third-largest transshipment hub and re-export center. This economy has large purchasing power and diversified import demand with a turnover of USD 265 billion in 2017.
Increased market access for Halal food
Although the global Halal market is very potential, the participation of Vietnamese businesses in the Halal market is still limited, due to difficulties in obtaining Halal certification and lack of information about the market and culture. business, consumption to deeply participate in the Halal market, especially in Muslim countries.
Recognizing the importance of this issue, over the past time, with the approval of the Government, the General Department of Standards, Metrology, and Quality (Ministry of Science and Technology) signed a revised and supplemented memorandum of cooperation with the General Department of Planning and Investment. Emirates Authority for Standardization and Metrology (ESMA), which contains additional content on requirements for products, goods, and services that meet Halal standards.
According to Mr. Tran Van Vinh – Director-General of the General Department of Standards, Metrology and Quality, the signing of a memorandum of understanding between the General Department of Standards, Metrology and Quality of Vietnam and the General Department of Standards, Metrology and Quality of the UAE is a framework important legal framework to help Vietnamese businesses access the global Halal food market in general, as well as the UAE and Gulf markets in particular.
Director-General Tran Van Vinh hopes the experts of the General Department of Standards, Metrology, and Quality of the two countries work closely in the process of implementing the MOU, creating favorable conditions for the business communities of the two sides to cooperate effectively. results, meeting the needs and interests of the people of each country.
Vietnam is actively integrating deeply with the international economy, including the potential Halal market. Relevant agencies are actively supporting and accompanying businesses in the new stage of development, jointly promoting the development of policies and strategies on Vietnam’s Halal industry, expanding to many fields from food to food. cosmetics, pharmaceuticals, tourism, services…, so that Vietnamese enterprises can effectively participate in the global Halal market.
According to the UAE Embassy in Vietnam, Vietnamese representative agencies abroad will continue to support Vietnamese businesses to access the Halal market in countries around the world, especially at major food centers. Halal products, because Halal food is the bridge between cultures.
At the same time, continue to strengthen information on market trends, consumption habits, cuisine, and culture of Muslims to make an important contribution to expanding people-to-people exchanges between Vietnam and Muslim countries. religion and promote cultural exchange, develop tourism from Muslim countries to Vietnam…