00:00Malaysia US Tarif Negosiation was a complex challenging process.
00:04Among the issues raised was our own halal certification,
00:08which was deemed a form of non-tarif barrier.
00:12But the cabinet decided that our halal standards were a red line to be defended.
00:18And defend it we did.
00:20With MITI spearheading Malaysia's negotiating team,
00:23while we agreed to the facilitation of the import process of certain halal certified products into Malaysia,
00:29we stood firm on maintaining our world-class, world-leading halal standards.
00:35Clearly, the halal industry is not a purely national or bilateral affair.
00:40Islam is a global religion.
00:42With 2 billion Muslims globally and the 3.5 trillion US dollar global halal market
00:48have set to grow to 5 trillion US dollars by 2030,
00:51multilateral cooperation in the global halal industry should be very important for us.
00:58Next, the how. The how is also equally important.
01:02On a larger scale, how we develop our societies and economies will impact the world
01:07and determine our collective future.
01:09Strengthening the Muslim world economically, sustainably and inclusively will also strengthen our hand,
01:16more so at a time when we must make our voices heard on certain global stages.
01:21The halal industry can help us achieve all this.
01:24In fact, halal goods and services are increasingly procured by people of all faiths and cultures, not just Muslims.
01:31Furthermore, at the time of growing trade protectionism and armed conflicts,
01:36the halal industry can buck the trend by doubling down on multilateral cooperation.
01:41It is important for us to show the rest of the world that there is a better path than the one we are on.
01:47Malaysia is uniquely positioned to play a catalytic role in resetting the global trading system through the halal economy.
01:55Malaysia can do this not just as a supplier but as a standard setter, system builder and bridge maker for ethical trade.
02:03Through the Madani Economic Framework, for example, we are promoting economic reforms and encouraging equitable wealth creation
02:10by raising not just our economic ceiling but also our economic floor to benefit everyone.
02:16So in closing, I would like to reiterate that at a time when geo-economic competition is driving nations to secure resilient and diversified supply chains,
02:26Halal offers Malaysia a strong edge that can anchor our SMEs and exporters in new growth markets across ASEAN, the Middle East and Africa.
02:36Malaysia has the capacity and encouraged to be the connector of emerging economies,
02:41a possible counterbalance to Western-centric trade blocs.
02:45In many ways, our Honorable Prime Minister has been a vocal advocate of that and we are here to support the execution of his vision.
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