MANILA -The Department of Trade and Industry (DTI) has partnered with the government of the Bangsamoro Autonomous Region of Muslim Mindanao (BARMM) to develop the country’s halal industry, seeing the sector as a viable vehicle for growth in the region.
A memorandum of agreement (MOA) was signed between the two parties on Thursday, with Trade Secretary Alfredo Pascual highlighting the commitment from both sides in ensuring economic growth and development in the region.
“The DTI and the BARMM through its Ministry of Trade, Investments and Tourism are working together through this MOA that will serve as a beacon of hope, a symbol of solidarity, and a vehicle for change for the people of Marawi and its adjacent communities,” Pascual said in a statement.
He added that the agreement formalized their partnership, which aimed to promote business development in targeted areas in the autonomous region.
READ: DTI: Mindanao poised to capture lucrative Halal market
In particular, the trade official said that their planned projects and activities would provide services to beneficiaries relating to livelihood, entrepreneurship, investment, financial literacy and marketing access, among others.
Job creation
Meanwhile, BARMM Chief Minister Ahod “Al Haj Murad” Ebrahim expressed optimism that the agreement would advance economic development in the region and generate higher income and higher quality employment for the people of Mindanao.
The DTI also said that the partnership was targeting to assist more than a hundred micro, small, and medium enterprises through capacity building, business counseling, and mentorship.
The government agency considers the halal industry as a sunrise industry, with a current value of $2.3 trillion in the global market that is seen to grow by almost 50 percent to $3.4 trillion next year.
READ: PH halal industry targeting 10% export growth
Under the Department of Agriculture’s (DA) 10-year roadmap, the local halal industry aims to increase its export revenues by a tenth by ramping up local productions.
The DA is also currently working in coordination with the Bureau of Agriculture and Fisheries Standards to create additional national standards for halal products.
To date, the DA said there were already six Philippine national standards for halal, including those for agriculture and fisheries products, slaughtering practices for ruminants, slaughtering practices for poultry, feeds, a code on goat production, and a code of practice for the production of raw milk.