Categories: EconomyNews

Malaysia aims for RM1.7t trade target with expansion plans of halal showcase to international market

By AKMAR ANNUAR

Matrade chairman, Datuk Seri Reezal Merican Naina Merican (picture), expressed determination to achieve the RM1.7 trillion trade target by the end of 2025 during the soft launch of Malaysia International Halal Showcase (Mihas) 2024.

“Matrade is poised to broaden the reach of Mihas beyond borders, with Dubai as its inaugural stop,” announced the chairman.

Plans are underway to extend Mihas to China and Europe in the near future, marking a significant shift after two decades of domestic hosting, he added.

“After 20 years of domestic organisation, we are eyeing expansion beyond Dubai. Our focus is to penetrate key markets such as China and Europe,” he said.

Reezal emphasised the aim to create fresh trade opportunities and collaborations, elevating Mihas to unprecedented success.

Also present were Matrade CEO Datuk Mohd Mustafa Abdul Aziz and Ministry of International Trade and Industry (MITI) Secretary General Datuk Hairil Yahri Yaacob.

This year’s showcase aims to attract over 40,000 trade visitors and feature 2,000 exhibition booths from 45 countries, including Malaysia.

Themed ‘Globalising Halal Innovations’, Mihas 2024 will be a leading platform for showcasing innovative Halal products, services, and technologies through 14 curated clusters.

Split into two segments, the event is scheduled to take place at the Malaysia International Trade and Exhibition Centre (Mitec) from Sept 17 to 20. It will then transition to the Dubai World Trade Centre from Nov 18 to 20.

Furthermore, the return of the Mihas Knowledge Hub will offer insights into market trends, access, and sourcing requirements, with a focus on innovation and sustainability.

Product segments showcased during Mihas 2024 will include pharmaceuticals, Islamic finance, fintech, lifestyle, modest fashion, food ingredients, and related services.

“Since its inception in 2004, Mihas has been instrumental in spearheading Malaysia’s Halal agenda, generating RM25 billion in total sales,” Reezal said.

With over 12,000 Malaysian exporters and foreign buyers benefiting from the event, Mihas has continuously contributed to Malaysia’s prominence in the global Halal market.

Meanwhile, after the soft launch, Bubbles 02 Marketing Sdn Bhd managing director, Ain Azizah Arifin, informed The Malaysian Reserve (TMR) that their oxygenated mineral water company has been participating in MIHAS since 2022.

“Joining such a large-scale showcase is extremely beneficial as it exposes us to international buyers and potential distributors,” she said

She expressed gratitude towards MIHAS for enabling them to demonstrate their capabilities and potential to both international and local markets.

Additionally, through Matrade, they received the opportunity to disseminate their company’s information and establish connections with an extensive network of distributors and buyers.

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