The global market for "halal" food is potentially worth up to US$500 billion a year and Muslim countries should work together to tap into the booming industry, Prime Minister Abdullah Ahmad Badawi said today.

Abdullah told a conference of business leaders from the 57-member Organisation of the Islamic Conference (OIC), currently chaired by Malaysia, that the halal food market is now estimated to be worth US$150 billion a year.

"But if a larger proportion of the 1.8 billion global Muslim consumers are tapped into, the halal food market has the potential to grow up to around US$500 billion a year," he added.

Halal refers to food items, particularly meat products, prepared according to Muslim law. In Asia, even foreign fastfood giants like KFC and McDonald's need halal certification from Islamic religious authorities before they can sell their products to Muslims.

Malaysia is now a leader in the halal export industry and is ready to work with other Muslim countries, he said.

"We call on corporations from OIC member countries to partner with us in this endeavor, as we move to tap into the burgeoning halal food market," Abdullah said.