Philippines Launches Halal Trade Mission to Saudi Arabia

The Philippines is set to embark on a significant journey to strengthen its trade ties with Saudi Arabia by sending a halal trade mission later this month. This initiative, organized by the Philippine Department of Trade and Industry, aims to enhance the country's presence in the global halal market, which is valued at over $7 trillion. The mission will take place from October 27 to November 5, covering key cities such as Riyadh and Jeddah.

Halal products are those that comply with Islamic law, and the Philippines is keen on expanding its domestic halal industry. The delegation will consist of representatives from various government agencies and private sector entities, all of whom will participate in the Saudi International Halal Expo 2024 in Riyadh. This expo serves as a platform for showcasing halal products and fostering business relationships.

Rommel Romato, the charge d’affaires of the Philippine Embassy in Riyadh, emphasized the mission's goal, stating, "This Philippine halal mission to Saudi Arabia aims to effectively promote the burgeoning Philippine halal trade industry and further strengthen trade relations between the Philippines and Saudi Arabia." This statement highlights the Philippines' commitment to not only promote its halal products but also to build a robust partnership with Saudi Arabia.

The Philippine delegation will also include officials from the tourism and agriculture sectors, as well as members of the National Commission on Muslim Filipinos. This diverse representation underscores the importance of halal trade in various aspects of the Philippine economy. With Muslims making up about 10 percent of the nearly 120 million population in the predominantly Catholic nation, the government is keen on doubling the number of halal-certified products and services by 2028.

In addition to increasing halal offerings, the Philippines aims to attract 230 billion pesos (approximately $4 billion) in investments and create around 120,000 jobs by tapping into the global halal market. Earlier this year, the Department of Trade and Industry sent a business-matching mission to Saudi Arabia, focusing on food, beverage, and personal care exporters. This initiative has already shown positive results, as there has been a noticeable increase in trade volume between the Philippines and Saudi Arabia from 2022 to 2023.

The rise in trade can be attributed to President Ferdinand Marcos Jr.'s visit to Riyadh last October, during which a significant investment agreement worth $4.26 billion was signed with Saudi business leaders. This agreement not only reflects the growing economic ties between the two nations but also sets the stage for future collaborations.

The upcoming halal trade mission to Saudi Arabia represents a pivotal step for the Philippines in its quest to become a key player in the global halal market. By fostering trade relations and promoting its halal industry, the Philippines is not only aiming for economic growth but also for a deeper understanding and connection with the Muslim community both locally and internationally. As the world becomes increasingly interconnected, such initiatives are essential for countries to thrive in the global economy.