Indonesia as a country with the largest Muslim population in the world has wide-open potential for the export of halal products. Based on data from the State of Global Islamic Economy Report 2022, the export value of Indonesian halal food products until April 2022 is still IDR 119 trillion, while imports from the OIC (Organization of Islamic Cooperation) countries reach IDR 1,630 trillion. Then for modest fashion products, the national export value only reached IDR 6 trillion, and imports from the OIC countries amounted to IDR 268 trillion. Pharmaceutical products are no less large, the value of imports from the OIC country reaches IDR 390 trillion, while Indonesia's exports are worth IDR 1.3 trillion. The last is halal cosmetic products. The value of Indonesia's exports reached IDR 7 trillion and imports from the OIC countries reached IDR 123 trillion. “There is a large gap between the export value of national halal products and the import value of OIC countries' halal products into the country," said the Managing Director for Business Development of the Indonesian Export Financing Agency (LPEI), Maqin Q Norhadi at the 9th Indonesia Islamic Economic Forum (17/10/2022).

In the seminar, LPEI also signed a Memorandum of Understanding with the Islamic Economic Community (MES) regarding the development of exports of Indonesian halal products and the Islamic Finance Industry. In the future, the collaboration between LPEI and MES will jointly develop the Indonesian sharia economy industry through various programs through financing, guarantee, insurance, and consulting services. Furthermore, Maqin explained, LPEI through the sharia business division is committed to making the best contribution in increasing the portion of the export value of Indonesian halal products. With a variety of financial and non-financial services, LPEI will provide training and guidance to prospective SME exporters of halal products and help expand market access for halal export-oriented SMEs. "This is also LPEI's support for the Islamic Economic Community which for 22 years has consistently built synergies and partnerships between individuals and institutions to be actively involved in encouraging the development of national sharia economic activities," he said.

Source: https://infobanknews.com/potensi-besar-lpei-siap-dongkrak-kinerja-ekspor-produk-halal/