PUTRAJAYA: Malaysia and the Philippines are set to expand their partnership, particularly in the halal industry, with the aim of penetrating international markets, especially in the Middle East. Both countries, which will celebrate 60 years of diplomatic relations next year, have also agreed to increase trade and investment volume.
Prime Minister Datuk Seri Anwar Ibrahim stated that the expansion of the partnership and the boost in trade relations will bring tremendous benefits to the people. He emphasized that discussions on economic cooperation with President Ferdinand Marcos Jr included exploring the potential of the halal industry, including Islamic finance, as a foundation for Malaysia-Philippines economic relations.
After a meeting with Marcos, who is on a three-day visit to Malaysia, the Prime Minister addressed the media and reiterated Malaysia’s willingness to share its experience and expertise on halal certification. He also mentioned that relevant authorities will be tasked with expediting the process of signing cooperation documents.
Regarding ASEAN, Anwar highlighted that both him and Marcos agreed on the importance of upholding ASEAN Centrality. They will continue to work closely to address challenges posed by the ever-changing geopolitical and socioeconomic landscape.
Marcos expressed commitment to coordinate efforts with the Malaysian government to build capacity in the Bangsamoro Autonomous Region in Muslim Mindanao, particularly in sectors such as the halal industry, Islamic banking, and food security. He stated that Malaysia has offered its expertise to train Filipino personnel and officials in these sectors, aiming to strengthen capabilities. Both leaders agreed to enhance bilateral trade and investment ties, emphasizing that cooperation in the halal sector would benefit the growth of their respective halal ecosystems.
Overall, Malaysia and the Philippines are looking to expand their partnership in the halal industry and increase trade relations. The collaboration is expected to have significant economic and social benefits for both countries. Additionally, there is a focus on upholding ASEAN Centrality and building capacity in the Bangsamoro Autonomous Region, with Malaysia offering its expertise to help strengthen economic sectors in the Philippines.
Credit: The Star : News Feed
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