Turkey, Malaysia, and the OIC

Patrick

Turkey and Malaysia have joined forces to regulate the global halal market. This is something that can help the Organization of Islamic Countries (OIC) to get a portion of this growing market.

Halal comprises 17% of the global food market, meaning it amount to millions of dollars every year in trade... 10 countries from the OIC have already come together in Bangladesh to ratify the new treaty being pushed by Malaysia and Turkey.

This is significant because it enhances Malaysia's tie to the OIC and strengthens the country economically. Trade between Malaysia and the OIC rose over 26% last year, exports rose 28%, and imports 24%. Malaysia is becoming globalized and it is doing it with the help of the OIC.

http://www.bernama.com.my/bernama/v3/news_lite.php?id=453470