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Leverage on the Growing Demand for Halal Products and Services in Russia and CIS Countries

Posted by admin2 on June 29, 2015 at 11:23 am
The demand for halal food in Russia is growing partly attributed to the large Muslim population, estimated in the region of 25 million or 18% of Russia’s 140 million people. Moscow city itself has the largest Muslim population amongst the European cities with 2 million people.

There is vast opportunity for Malaysian companies to export halal products and services to Russia and CIS countries in view of the growing Muslim population. In 2009, the Russian Federal Agency for Technical Regulation and Metrology registered a halal System which identifies the compliance of food products and medicines within Islamic law and principles. Furthermore, under the platform of Russia Mufties Council, a group of independent experts established a working group to facilitate the development and implementation of Islamic financial services in Russia. As a result of that, in February 2010, the Russian Association of Islamic Financing Experts (RAIFE) was formed.

In the last few years, there had been rapidly growing demand for Islamic financial products such as sukuk, hire purchase, property financing, private loans and investments.

Establishing contacts with reliable Russian companies is a key element for Malaysian companies who seek to market their halal products. The Malaysian External Trade Development Corporation (MATRADE) office in Moscow is able to find markets and identify business opportunities in Russia and surrounding countries. Malaysian companies are also encouraged to be actively participating in trade exhibitions and marketing missions organized by MATRADE to further tap the halal opportunities in the region.

Malaysia, as the frontrunner in the halal industry continues to share its expertise and knowledge. MIHAS is the most appropriate vehicle to carry out this function and objective . With various programmes lined up, MIHAS 2010 to be held from 23-27 June at the MATRADE Exhibition and Convention Centre in Kuala Lumpur remains an ideal platform for halal industry players to forge lucrative international business links.

For more information about the halal opportunities in Russia and CIS countries, please contact the trade commissioner of MATRADE Moscow at email:moscow@matrade.gov.my

 


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