Matrade chairman Datuk Seri Reezal Merican Naina Merican.
KUALA LUMPUR: The Malaysia International Halal Showcase (Mihas) 2024 has hit new milestones not only through the number of participating countries but also the amount of revenue that is expected to be generated over the next four days.
Malaysia External Trade Development Corp (Matrade) chairman Datuk Seri Reezal Merican Naina Merican said the number of exhibitors this year amounted to 1,400 compared with 1,100 last year.
“There are currently 2,028 booths this year, among which are 330 participating foreign buyers with 20 premium buyers.
Another highlight is Mihas has been recognised as having the biggest attendance of trade visitors in a halal showcase by the Guinness World Records,” he told reporters after the Mihas 2024 opening ceremony here yesterday.
According to Reezal, the halal industry offers enormous potential, sitting at US$3.5 trillion globally with expectations for it to go up to US$5 trillion by 2030.
“This will be in tandem with the growth of Muslim consumers.
“Right now there are 1.9 billion consumers and it will go up to 2.3 billion consumers by the time we hit 2030. But it’s important to remember that halal products are not just for the Muslims,” he said.
He added halal has become the preferred choice for many countries also because it is aligned with environmental, social and governance standards particularly where it concerns security, hygiene and ingredients.
On Mihas’ inaugural event in Dubai, Reezal said Mihas@Dubai will aim to strengthen Malaysia’s position as leader in this sector rather than compete with it.
“Dubai has been known for hosting a lot of prestigious trade fairs. Another positive factor is that Dubai is a country that has got an airport which is extensively connected to the whole world, as much as we were in many other parts of the world.
“But if you are in Dubai, you are just one flight away from any major cities,” he said.
Reezal said Matrade will also look at tapping into emerging markets like the Middle East and North Africa, whereby the population has consistently grown over the last decade.
“If you are looking at North Africa alone, it is about 200 million in population. But if you look at the entire Africa about eight years ago, it only had 800 million people.
“Now it has gone up to 1.4 billion. On top of that, China is also coming to that part of the world in a big way by building ports and highways. It will not be a competition with China but this will open doors for us,” he said.
Matrade will aim to generate RM4.5bil in total sales from both Mihas@Dubai and Mihas 2024 in KL.
Additionally, chief executive officer Datuk Mohd Mustafa Abdul Aziz said it was important to champion themselves within the industry as well as cater to the huge population of China.
This year Mihas registered encouraging participation from companies from China, with 134 booths in total.
“China has been our major trading partner for the last 15 consecutive years. And looking at the potential of all these sectors, I think we should not be ignoring or neglecting the demand for halal products and services. And that is where we are moving fast into the market. I believe that we have taken the halal industry to a different level,” he said.
Mohd Mustafa added there was also potential for South Korean companies to go deeper into the halal industry.
“Even though the Muslim population in South Korea is still relatively small, we have seen the growth in Muslim travel to South Korea.
“Now, there are a lot of travel packages to South Korea, and South Korea can offer all of these halal food. In fact, there are many halal restaurants in South Korea, some even operated by Malaysians,” he said. He said Matrade will also be organising Mihas events in China and Europe in the future.
Meanwhile, in his speech, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said in 2023, Malaysia’s halal export value is expected to reach nearly RM55bil, marking the second consecutive year it has surpassed the RM50bil mark.
