13 July 2019 — The ASEAN Chamber of Commerce (ACC) and MOFAZ Dagang Sdn Bhd have inked Memoranda of Understanding (MoUs) with the Commonwealth of Independent States’ (CIS) International Association of Islamic Business (IAIB) to explore the potential halal market in the former Soviet Union nations.

ACC president Datuk Moehamad Izat Emir said following the signing, halal food would be the main focus for the chamber and MOFAZ to penetrate the CIS countries, which have a combined population of about 240 million.

Moehamad Izat said he would lead a delegation to a trade exhibition in Moscow in October this year.

“I believe it will be a good beginning for us to discover the demand in Russia, and how fast we can penetrate the Russian market,” he told reporters after meeting the IAIB delegation led by its president Marat Kabaev here today.

Kabaev had said earlier that the association has a great interest in Malaysia’s halal products and halal industry.

IAIB is a non-commercial organisation established in Moscow, Russia aimed at developing business and economic ties with Islamic countries.

Meanwhile, MOFAZ president and founder Mohamed Fauzy Abdul Hamid said the company would be a facilitator and bridge to link up Malaysian industry players and Russian consumers following the deal signed today.

“With our 42 years of experience, connection and know-how in doing business, my job is to get these players to expose them to potential new markets.

“And I believe the halal or Islamic market in Russia is a pretty virgin market for us,” he said, expressing hope that reciprocally, he would be able to bring in new technology products from Russia.

At today’s event, Mohamed Fauzy was appointed as the ASEAN representative for IAIB.