KUCHING: Realising the high demand, profit feasibility and the need to adapt to the growing global halal market in order to achieve its ‘One Belt One Road’ initiative, China continues to expand its partnerships with countries such as Malaysia which has a well-established halal market that is fully supported by its government.
At the 13th World Islamic Economic Forum 2017 (WIEF 2017) held here last week, 16 Memoranda of Understanding (MoUs) amounting to over US$2.5 billion were sealed, of which nine were with international organisations. Of that nine, seven were China-based companies or associates of Chinese companies and of that, three MoUs involved Malaysia’s halal industry.
“Based on the demands of ‘One Belt, One Road’ policy and supply-side reform, (the) Chinese government is keen on changing by means of technology to preferring quality to quantity of Chinese products,” Jinqing Wu, YHY Group Sdn Bhd, and Yuhuangyan Group (Malaysia) Sdn Bhd said in a combined press statement.
With that, Z-Run Wellton Industry Co Ltd, which owns Jinqing Wu, is looking to work together with Malaysia’s company YHY Group for its own WBL312 Halal QR Code product.
YHY Group is the sole authoriser in Malaysia that issues QR code for all halal products and related products to be exported and retailed in China while Yuhuangyan is the exclusive and sole authoriser in Malaysia to issue QR code for approved bird’s nest and related products to be exported and retailed in China.
W312 is a product traceability and security management platform which aims to provide production data, management, logistics management, market management, product traceability, security verification, product description, and more.
“If halal certification is combined with WBL 312, numerous high quality Chinese products could be obtained by the Muslim world. In the meantime, products that meet dual certification will get easier access to the Chinese market.
“Consequently, both sides could establish and strengthen partnerships, mutual trust, mutual integration, and connectivity,” it said.