Halal product showcase in Malaysia generates RM2,36b

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The 18th edition of the Malaysia International Halal Showcase (MIHAS) 2022, organised by Malaysia External Trade Development Corporation (MATRADE), delivered a record-breaking showcase, generating RM2.36 billion in sales, surpassing its original target of RM1.9 billion.

“Through MIHAS, MATRADE continues to fortify Malaysia as the heart of the global Halal hub. This year, MIHAS was indeed bigger and better thanks to our hybrid approach,” said MATRADE CEO Datuk Mohd Mustafa Abdul Aziz through a press release obtained by ANTARA in Jakarta, Thursday.

He said that MATRADE encourages the business community, especially micro, small and medium enterprises (MSME) to think regional or international, even if they are newly established.

“Businesses must realise the vast opportunities available in the international halal market and make a move to capitalise on them. MATRADE is ready to assist Malaysian exporters to tap into the opportunities of the global Islamic economy, which is estimated to reach USD2.8 trillion by 2025,” he said.

Based on data reported by MATRADE, out of total sales of RM2.3 6 billion, exhibitors’ sales recorded RM1.65 billion from the showcase, while RM714.7 million was generated from the International Sourcing Programme (INSP), comprising pre-arranged B2B meetings conducted physically and virtually in conjunction with MIHAS 2022.

Top sectors with the highest total sales recorded were financial services, agricultural produce, prepared food, beverages, as well as palm oil products.

INSP MIHAS, held in conjunction with MIHAS 2022, was organised in a hybrid approach. A total of 264 Malaysian exporters and 192 foreign buyers from 33 countries participated in the physical INSP, while 226 Malaysian exporters and 197 foreign buyers from 48 countries participated in the virtual INSP. Five premium buyers from India, Qatar, Saudi Arabia, Turkey and the USA were also brought in physically to meet with Malaysian exporters.—Antara

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