Opportunities and Challenges of Halal Standards Policy in IMT-GT

Abstract

Halal standard policies in the IMT-GT region (Indonesia, Malaysia, Thailand - Growth Triangle) are needed due to the increasing global demand for halal products. With a majority Muslim population, the region has great potential in the development of the global halal industry. Harmonization of halal standards is needed to facilitate cross-border trade, reduce regulatory barriers, and strengthen the competitiveness of halal products in the global market. This study uses a qualitative approach with the library research method. Data is collected from books, journal articles, reports, and documents. Researchers conduct in-depth analysis of the literature to identify themes, patterns, and relationships related to halal standards. The theory of liberalism is the basis of the analysis in this study. This theory emphasizes cooperation between countries and economic interdependence as drivers of peace and prosperity. In the context of IMT-GT, liberalism is appropriate to encourage the harmonization of halalstandards to facilitate cross-border trade and investment. The role of international institutions is also crucial in supporting dialogue and cooperation between countries. The results of the research show that halal standards in IMT-GT open up great opportunities to strengthen access to halal products to the global market and increase investment in related sectors. However, the main challenges include differences in national policies, regulations, and halal certification. ASEAN and international institutions play a role in facilitating dialogue and coordination between countries to achieve integrated halal standards, so as to strengthen the competitiveness of regional halal products in the global market.