Sri Mulyani: Exports Of Halal Products Should Continue To Be Encouraged During The COVID-19 Pandemic

Capture the screen of Minister of Finance Sri Mulyani at the 'Sharia Economic and Financial Research Forum'. (Mery Handayani / VOI)

JAKARTA - The government asks that the export of Indonesian halal products to Islamic countries in the era of the COVID-19 pandemic continues to be encouraged. Especially for countries that are in the International Cooperation Organization (OIC).

Finance Minister Sri Mulyani said the halal industry has great potential. This is because the total expenditure of the Muslim population in the world, which amounts to 1.8 billion people or 24 percent of the total population in the world on halal products, is estimated at 2.2 trillion US dollars.

Furthermore, Sri said, the estimate included all areas of medicine, lifestyle and needs as well as ethical values and Islamic teachings. This expenditure also grew 5.2 percent, quite large with such rapid growth, so the Islamic economy is an important part of the global economy.

"The export of our halal products will be encouraged by taking advantage of Indonesia's membership in the OIC Islamic state organization forum," he said, in a virtual 'Islamic Economic and Financial Research Forum', Monday, September 21.

Sri Mulyani said exports of halal products to OIC countries in 2018 had reached 45 billion US dollars or 12.5 percent of Indonesia's total trade which reached 369 billion US dollars.

However, Sri Mulyani said Indonesia could also increase exports of halal products to countries that were not included in the OIC because they had a large Muslim population and their demand for goods and services continued to increase.

"We can also improve and penetrate non-OIC countries," he said.

Several countries have become pioneers in the formation of the sharia ecosystem and Indonesia also continues to improve all elements of the sharia ecosystem, from laws and regulations to institutions. Sri said, currently the government and stakeholders are building all activists as well as thinkers and regulators in the field of sharia.

"We need to continue to build this ecosystem by starting from policies, regulations, instruments and also steps that can answer the needs of the people in an inclusive manner. Because Indonesia is a country that has diversity, but the majority of its people are Muslims," he explained.

Sri Mulyani hopes that the growth of exports of Indonesian halal products can continue to be maintained, including in the midst of crisis conditions due to the COVID-19 pandemic even though challenges arise such as the potential for decreased demand.

"COVID-19 affects the economic performance of countries in the world. This is a challenge that is not easy and will definitely affect their ability and demand for Indonesian export goods," he said.