Kuala Lumpur, May 31, IRNA - Iran and Malaysia have the capacity to take another step towards establishing the countries collaboration pass the global Halal hub, Iran's Ambassador to Kuala Lumpur said.

The Halal economy is becoming a major sector of the international economy as it evolves and matures to serve the needs of the worldwide Muslim population, Marziyeh Afkham said in her address to business opportunities on Halal products.

Iran-Malaysia joint expos and conferences provide regional and global cooperation opportunities across many of the Islamic economy sectors, said she.

This Conference could bring some of the sharpest minds and best research to explore the way forward in the exciting arena of trade and investment within different sectors such as Halal food, Muslim-friendly travel, media and recreation, pharmaceuticals, textiles, cosmetics as well as finance, she added.

The Conference that could integrates the trade fair and discussion forums under one umbrella has been designed to meet the challenges of the next phase of growth of the Halal ecosystem, she said.

It is also aimed to enable new structures and regulatory frameworks that will increase confidence amongst consumers, industry players and investors, and stimulate the continued growth of the global Halal ecosystem for the benefit of Muslims and non-Muslims alike, she went on to say.

This integrated approach creates a foundation for the next decade of growth across the Halal market sectors, and re-confirms both countries' pivotal role in the development of global regulatory frameworks and in stimulating trade and investment in regional and global markets, she noted.

The conference’s theme reflects the need for a renewed effort of Iran and Malaysia amongst Halal stakeholders to further strengthen the integration of industries within the Halal ecosystem towards realization of full capacity of Halal economy, Afkham added.

More emphasis must be placed on areas that include research and development, innovation, human capital development, banking and finance to develop a seamless point-to-point Halal supply chain, she further said.

'I do hope a constructive plan would be prepared for highlighting the priorities of cooperation on Halal products and services.

'I do also hope the result of today’s dialogue will enrich the collaboration partnership between two countries in MAHA 2016,' she stressed.