Dhaka : Bangladesh has sought Malaysia's assistance in developing a halal industrial park, aiming to tap the rapidly expanding global halal product market.

"Let's make a move on this," said Chief Adviser Muhammad Yunus during a meeting with Malaysian halal industry officials at his hotel in Kuala Lumpur on August 12.

The Malaysian delegation was led by Datin Paduka Hajah Hakimah binti Mohd Yusoff, Coordinator of Halal Affairs under the Malaysian Prime Minister's Department.

Among those present were Sirajuddin Bin Suhaimee, Director General of the Department of Islamic Development Malaysia (JAKIM), and Hairol Ariffein Sahari, Chief Executive Officer of the Halal Development Corporation (HDC).

Officials informed the Chief Adviser that the global halal product market is currently valued at USD 3 trillion and is projected to reach USD 5 trillion by 2030.

Malaysia, which operates at least 14 halal industrial parks, holds a sizable market share. Other key players include Middle Eastern countries, Thailand, Australia and New Zealand.

Bangladesh, home to the world's third-largest Muslim population, has significant potential to join the market, provided it strengthens its infrastructure and certification systems, said the Chief Adviser's Deputy Press Secretary Abul Kalam Azad Majumder on August 13.

At present, the Islamic Foundation Bangladesh is the sole body authorized to certify halal products, with only 124 manufacturers certified so far.

Chowdhury Ashik Mahmud bin Harun, Executive Chairman of BIDA, urged the Malaysian side to help identify the requirements for establishing a halal industrial park in Bangladesh.

"Maybe we can work together to map out what's needed to build a halal products industry," he said, noting that many Bangladeshi companies are keen to export halal-certified goods.

CA Yunus described the meeting as a valuable learning experience. "Thank you for the insight, it feels like a class on halal products," he remarked.

Earlier in the day, Bangladesh and Malaysia exchanged a note of cooperation in the field of halal ecosystems, a move officials referred to as 'halal diplomacy'.