Pascual vows more halal opportunities

TRADE and Industry Secretary Alfredo Pascual on Wednesday committed to maximize the opportunities of the halal industry as the market continues to expand in the country.

Speaking at the Invest Philippines Week: Philippine Halal Economy Festival in Taguig City, Pascual said that there is an increasing demand in the halal products, especially among its Asean neighbors Indonesia, Malaysia and Brunei Darussalam.

Department of Trade and Industry Secretary Fred Pascual. PHOTO BY J. GERARD SEGUIA

Department of Trade and Industry Secretary Fred Pascual. PHOTO BY J. GERARD SEGUIA

Department of Trade and Industry Secretary Fred Pascual. PHOTO BY J. GERARD SEGUIA

He said that the Department of Trade and Industry (DTI) is working to promote and strengthen the halal economy by tapping market access among Organization of Islamic Cooperation (OIC) countries.

“We aim to tap into the burgeoning demand for halal products and services in our domestic market and across the 57 countries that constitute the OIC. This network spans Asia, the Middle East, Africa, Europe and the Americas,” said Pascual.

He also said that with President Ferdinand Marcos Jr., they engaged with the business community during their trip in Saudi Arabia, where the Association of Southeast Asian Nations (Asean)-Gulf Cooperation Council Summit happened.

Pascual also mentioned that the DTI met with the United Arab Emirates minister of State for Foreign Trade, Thani bin Ahmed Al Zeyoudi, to reiterate shared commitments to “fortify and amplify” economic relations.

“As a testament to this commitment, in February 2022, we formally signed the Investment Promotion and Protection Agreement during the Philippine National Expo Day at Expo 2020 Dubai. We are actively engaged in ongoing deliberations regarding the Comprehensive Economic Partnership Agreement, which underscores our mutual dedication to further strengthen our economic ties,” he said.

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