$510 Million in Trade Generated by Malaysia Halal Show

February 3rd, 2022

$510 Million in Trade Generated by Malaysia Halal Show articleThis included RM1.38 billion sales recorded by exhibitors and RM749.1 million from Malaysian companies who participated in the International Sourcing Programs (INSP).

Mihas was successfully conducted in a fully virtual format from September 9 until December 31, 2021 proving that the Malaysia External Trade Development Corporation (Matrade)’s iconic event is a big hit with the halal community.

According to Matrade’s Chief Executive Officer, Mohd Mustafa Abdul Aziz, Mihas 2021 The virtual INSP is a business-matching program in which Matrade’s 46 overseas-based offices match-make Malaysian exporters with potential international buyers.

Malaysian exhibitors accounted for RM562 million in total sales while foreign exhibitors also reported encouraging sales which further highlighted Mihas’s robustness as the global avenue to the ever-growing Halal economy.

For foreign exhibitors, Indonesia led with the highest sales totaling RM403.4 million, followed by the Philippines (RM199.3 million), Vietnam (RM103.8 million), Pakistan (RM36.0 million) and Brazil (RM13.2 million).  Islamic Financial Services (RM380.9 million, 27.6 per cent) recorded the highest total sales among the 12 key clusters that Mihas 2021 focused on, followed by Beverages (RM329.6 million, 23.9 per cent), Processed Food (RM150.6 million, 10.9 per cent), Pharmaceutical, Toiletries & Cosmetics (RM138.0 million, 10.0 per cent), and Agricultural Produce (RM106.7 million, 7.7 per cent).

Year 2021 witnessed Matrade’s impactful digital transformation in which the 17th Mihas edition featured the virtual participation of 549 exhibitors comprising 246 local exhibitors and 303 foreign exhibitors from 42 countries including new entrants from countries such as Mexico, Guatemala, Trinidad & Tobago and Colombia.

The top five foreign exhibiting countries are Indonesia (45 exhibitors), China (23 exhibitors), the Philippines (20 exhibitors), South Korea (18 exhibitors) and Thailand (16 exhibitors). Besides attracting 16,152 trade visitors and delegates, Mihas 2021 created opportunities for small and medium enterprises (SMEs) to strengthen their export capabilities.

Moving forward, Mustafa added “We encourage Malaysian companies to leverage Matrade’s 286 exporter development and export promotion programs planned in 2022. Matrade will continue to establish strategic collaborations with various public and private sectors in implementing export-based programs in order to create more export opportunities.”

The forward-looking market insight discussions were part of the networking and business matching sessions organized during Mihas 2021. The Knowledge Hub expounded insights on future-trending topics such as Women and Economy, Islamic Intellectual Property, Halal Considerations in Cloud Kitchens, The Pandemic Challenges & Opportunities to Modest Fashion Industry and Market Access Insights.

A testament to its success as the leading halal showcase in the region, Mihas 2021 received the Gold Award in the Best “Pandemic Pivot” or “Covid-19 Communications” campaign category at the Malaysia Public Relations Awards (MPRA) on 17 December 2021.  Themed ‘Empowering Halal, Tomorrow, Together’, various PR strategies were implemented with greater emphasis on digitalization including social media channels to optimize the brand impact and position Mihas on the world stage.

Source: Trade Arabia