The success of the previously held Malaysia International Halal Showcase (MIHAS 2023) could serve as a jump-off point for Qatari businesses seeking to take a chunk out of the burgeoning halal industry, an official of the Malaysia External Trade Development Corporation (MATRADE) has said.
MIHAS, regarded as “the world’s largest halal exhibition,” recorded $656.1mn (RM3.11bn) worth of sales during its five-day run in Malaysia last September, exceeding its target of $527.4mn (RM2.5bn) by 24%, according to figures provided by MATRADE to Gulf Times.
This achievement during the 19th edition of the exhibition further underscores MIHAS’ significance as a premier global trade platform for the halal industry.
Dubai-based MATRADE trade commissioner Megat Iskandar Ahmad Dassilah emphasised that Qatari businesses can benefit from the growing interest in the halal industry through MIHAS.
“We hope to receive more participation from the Qatari companies in next year’s MIHAS as this event complements the strong development of the halal industry in Qatar,” Dassilah noted.
During the exhibition, which was hosted by Malaysia’s Ministry of Investment, Trade, and Industry (MITI) and organised by MATRADE, sales were contributed by business deals concluded from two MIHAS key programmes: the International Sourcing Programme (INSP) organised for Malaysian exporters and the signature trade exhibition involving exhibitors from 44 countries.
MIHAS 2023’s focus on elements of sustainability and digitalisation has further enhanced its value to the global halal community by facilitating and accelerating the mainstreaming of the halal ecosystem into global supply chains.
Preliminary calculations showed that the INSP, MATRADE’s flagship programme, achieved sales worth $257.4mn (RM1.22bn), while the exhibitors garnered total sales of $398.8mn (RM1.89bn). According to MATRADE, these preliminary sales figures could potentially increase as the virtual INSP business matching lasted until November 30.
The exhibition covered 13 halal segments and the business matching involved companies in all sectors, resulting in opening market access for Malaysian companies in some of the largest supermarket chains in the world, including Walmart, Aldi, Asda, Marks & Spencer, Guardian, Sainsbury, and Woolworth. It also provided access to Malaysian companies to global markets where Malaysia currently does not have a strong presence, such as Romania, Poland, and Morocco.
The in-person INSP, which occurred at MATRADE, connected 469 Malaysian companies with 231 international buyers from 44 countries, including 11 premium buyers. This initiative facilitated a total of 2,788 business meetings. MATRADE, through its trade office in Doha, had brought in four buyers to this flagship programme.
MITI Minister YB Senator Tengku Datuk Seri Utama Zafrul said, “Malaysia’s Halal Industry Master Plan 2030 targets an industry contribution of $56.1mn (RM266bn), or 11% of Malaysia’s GDP by 2030. In achieving this, we will continue to build on the momentum generated by MIHAS 2023, particularly in facilitating market access for our Halal industry players to major supply chains globally.”
The minister added: “Most importantly, in line with our New Industrial Master Plan 2030’s economic security and inclusivity agenda, platforms like MIHAS also contribute significantly to the government’s objective of internationalising micro, small and medium enterprises (MSMEs) and strengthening Malaysia’s position as the halal hub in Asia.”
MATRADE chairman YB Dato’ Sri Reezal Merican Naina Merican said, “We are committed to promoting sustainable growth and ensuring that the halal industry continues to thrive in a responsible and environmentally friendly manner.
“More than 30 MoUs were exchanged between Malaysian and foreign organisations throughout MIHAS. MATRADE also expended considerable effort to engage other government organisations, resulting in the participation of 34 federal and state agencies in this year’s MIHAS.”
He added: “We are proud to have played our part in MIHAS 2023’s success. Not surprisingly more than 800 exhibitors have already expressed their interest in participating in MIHAS 2024 scheduled for September 17-20, 2024, proving its key role in advancing and elevating the global Halal industry.”
For its 2024 edition, MATRADE will organise MIHAS under the theme ‘Globalising Halal Innovations’ and will continue its digitalisation initiative for the halal industry through a hybrid manner. Also, MIHAS 2024 will maintain its four major components: the showcase, International Sourcing Programme (INSP), Knowledge Hub, and MIHAS Awards.
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