Halal Development and Malaysian Exports to Western Asian Countries
Malaysia's economic growth in the past three decades is mostly attributed to its success in the export sector. A major challenge facing Malaysia is its high dependency on a selected few export destinations such as the USA and Japan. In order to further improve or stabilise its economy, Malaysia needs to diversify its export locations. In line with its extensive development in halal-related areas, Malaysia can further promote its halal products to Islamic countries such as Western Asian Countries (WACs). This study attempts to investigate the relevant factors that determine Malaysian exports to WACs, with special attention given to the role of halal development in Malaysia. Employing panel data analysis, this study observes that halal development generally plays a significant role in improving Malaysian exports to WACs. As a result, the efforts to promote halal products should be intensified, covering every aspects of the halal processes.